Huntington Bancshares Incorporated (NASDAQ:HBAN) Short Interest Up 8.4% in December

Huntington Bancshares Incorporated (NASDAQ:HBAN) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 30,170,000 shares, a growth of 8.4% from the December 15th total of 27,820,000 shares. Currently, 3.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 7,810,000 shares, the short-interest ratio is presently 3.9 days.

A number of equities research analysts have recently issued reports on the stock. ValuEngine cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, December 11th. DA Davidson reaffirmed a “neutral” rating on shares of Huntington Bancshares in a research note on Monday, November 18th. UBS Group cut shares of Huntington Bancshares from a “buy” rating to a “neutral” rating and set a $15.50 price objective for the company. in a research note on Friday, December 13th. Bank of America cut shares of Huntington Bancshares from a “buy” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research note on Friday, October 25th. Finally, BidaskClub cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $15.33.

HBAN traded up $0.09 during trading on Thursday, hitting $14.67. 334,676 shares of the stock traded hands, compared to its average volume of 7,672,887. The firm has a market capitalization of $15.08 billion, a P/E ratio of 12.24, a price-to-earnings-growth ratio of 1.92 and a beta of 1.46. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.91 and a quick ratio of 0.90. The firm has a 50-day moving average of $14.98 and a 200 day moving average of $14.21. Huntington Bancshares has a 12-month low of $12.15 and a 12-month high of $15.63.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Huntington Bancshares had a net margin of 25.24% and a return on equity of 13.83%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.33 EPS. As a group, equities analysts predict that Huntington Bancshares will post 1.29 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, December 17th. This represents a $0.60 annualized dividend and a yield of 4.09%. Huntington Bancshares’s payout ratio is currently 50.00%.

In other news, EVP Paul G. Heller sold 7,144 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $14.76, for a total value of $105,445.44. Also, EVP Rajeev Syal sold 25,167 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $14.50, for a total transaction of $364,921.50. Following the completion of the sale, the executive vice president now directly owns 182,143 shares of the company’s stock, valued at approximately $2,641,073.50. The disclosure for this sale can be found here. Insiders sold a total of 93,108 shares of company stock worth $1,352,544 in the last three months. Insiders own 1.22% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. National Pension Service boosted its position in Huntington Bancshares by 5.4% during the 3rd quarter. National Pension Service now owns 1,520,927 shares of the bank’s stock valued at $21,704,000 after buying an additional 78,030 shares during the period. Grove Bank & Trust lifted its position in shares of Huntington Bancshares by 7.5% in the 3rd quarter. Grove Bank & Trust now owns 31,659 shares of the bank’s stock worth $452,000 after purchasing an additional 2,217 shares during the period. Aspiriant LLC lifted its position in shares of Huntington Bancshares by 212.1% in the 3rd quarter. Aspiriant LLC now owns 35,658 shares of the bank’s stock worth $509,000 after purchasing an additional 24,233 shares during the period. Voloridge Investment Management LLC purchased a new stake in shares of Huntington Bancshares in the 3rd quarter worth about $913,000. Finally, Parallel Advisors LLC lifted its position in shares of Huntington Bancshares by 146.3% in the 3rd quarter. Parallel Advisors LLC now owns 4,773 shares of the bank’s stock worth $68,000 after purchasing an additional 2,835 shares during the period. 74.84% of the stock is owned by institutional investors and hedge funds.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).

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