Huntington Bancshares Incorporated (NASDAQ:HBAN) Director Richard W. Neu purchased 2,450 shares of Huntington Bancshares stock in a transaction dated Friday, July 28th. The shares were purchased at an average cost of $13.10 per share, with a total value of $32,095.00. Following the acquisition, the director now owns 184,596 shares of the company’s stock, valued at approximately $2,418,207.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) opened at 13.17 on Friday. The firm has a 50-day moving average of $13.38 and a 200 day moving average of $13.33. Huntington Bancshares Incorporated has a 12 month low of $9.21 and a 12 month high of $14.74. The company has a market capitalization of $14.36 billion, a PE ratio of 18.24 and a beta of 1.37.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, July 21st. The bank reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.03. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Huntington Bancshares had a return on equity of 11.39% and a net margin of 18.41%. During the same quarter last year, the firm posted $0.19 earnings per share. On average, equities research analysts expect that Huntington Bancshares Incorporated will post $0.92 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 18th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.43%. Huntington Bancshares’s payout ratio is presently 46.38%.
Huntington Bancshares declared that its board has authorized a share buyback plan on Wednesday, June 28th that authorizes the company to repurchase $308.00 million in shares. This repurchase authorization authorizes the bank to purchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Quadrature Capital Ltd bought a new position in Huntington Bancshares during the fourth quarter worth $3,787,000. Wealthfront Inc. increased its position in shares of Huntington Bancshares by 23.5% in the fourth quarter. Wealthfront Inc. now owns 18,945 shares of the bank’s stock valued at $250,000 after buying an additional 3,609 shares in the last quarter. USA Financial Portformulas Corp acquired a new position in shares of Huntington Bancshares during the fourth quarter valued at approximately $614,000. Pegasus Partners Ltd. increased its position in shares of Huntington Bancshares by 13.2% in the fourth quarter. Pegasus Partners Ltd. now owns 64,531 shares of the bank’s stock valued at $853,000 after buying an additional 7,541 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Huntington Bancshares by 22.4% in the fourth quarter. Teachers Advisors LLC now owns 4,069,528 shares of the bank’s stock valued at $53,799,000 after buying an additional 745,818 shares in the last quarter. Hedge funds and other institutional investors own 75.51% of the company’s stock.
HBAN has been the subject of several analyst reports. Deutsche Bank AG reissued a “buy” rating on shares of Huntington Bancshares in a report on Monday, July 3rd. BidaskClub downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Piper Jaffray Companies reissued a “neutral” rating and set a $14.00 price target (down previously from $14.50) on shares of Huntington Bancshares in a report on Saturday, April 22nd. Zacks Investment Research raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Tuesday, April 11th. Finally, Keefe, Bruyette & Woods set a $14.00 price target on shares of Huntington Bancshares and gave the company a “hold” rating in a report on Monday, April 3rd. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $14.90.
About Huntington Bancshares
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
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