Huntington Bancshares Incorporated (NASDAQ:HBAN) Sees Significant Growth in Short Interest

Huntington Bancshares Incorporated (NASDAQ:HBAN) saw a significant increase in short interest in May. As of May 15th, there was short interest totalling 32,380,000 shares, an increase of 8.7% from the April 30th total of 29,790,000 shares. Based on an average trading volume of 14,210,000 shares, the short-interest ratio is currently 2.3 days. Approximately 3.2% of the company’s shares are short sold.

Shares of HBAN stock traded down $0.07 during trading hours on Friday, reaching $8.10. 4,907,187 shares of the company’s stock were exchanged, compared to its average volume of 10,691,125. The stock’s 50 day moving average is $8.16 and its 200-day moving average is $12.15. The company has a market cap of $8.29 billion, a price-to-earnings ratio of 8.26, a P/E/G ratio of 3.61 and a beta of 1.55. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.93. Huntington Bancshares has a fifty-two week low of $6.82 and a fifty-two week high of $15.63.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.09). The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. Huntington Bancshares had a return on equity of 10.40% and a net margin of 19.65%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 earnings per share. Equities analysts anticipate that Huntington Bancshares will post 0.46 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 7.41%. The ex-dividend date is Tuesday, June 16th. Huntington Bancshares’s payout ratio is 47.24%.

Several research analysts have issued reports on HBAN shares. Morgan Stanley dropped their target price on Huntington Bancshares from $13.00 to $10.50 and set an “equal weight” rating for the company in a research report on Tuesday, April 7th. Barclays restated a “hold” rating and set a $12.00 target price on shares of Huntington Bancshares in a research report on Thursday, April 9th. Cfra dropped their target price on Huntington Bancshares from $15.00 to $9.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Royal Bank of Canada dropped their target price on Huntington Bancshares from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, April 24th. Finally, BMO Capital Markets upgraded Huntington Bancshares from an “underperform” rating to a “market perform” rating and set a $15.00 target price for the company in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $10.69.

In related news, EVP Mark E. Thompson sold 11,464 shares of Huntington Bancshares stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $8.68, for a total value of $99,507.52. Following the completion of the transaction, the executive vice president now owns 644,809 shares in the company, valued at $5,596,942.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.70% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CFM Wealth Partners LLC acquired a new position in shares of Huntington Bancshares in the 4th quarter valued at $25,000. Ballast Advisors LLC acquired a new position in shares of Huntington Bancshares in the 1st quarter valued at $25,000. Golden State Wealth Management LLC acquired a new position in shares of Huntington Bancshares in the 1st quarter valued at $25,000. Litman Gregory Asset Management LLC acquired a new position in shares of Huntington Bancshares in the 4th quarter valued at $26,000. Finally, TFG Advisers LLC acquired a new position in shares of Huntington Bancshares in the 4th quarter valued at $29,000. 75.32% of the stock is currently owned by hedge funds and other institutional investors.

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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