Huntington Bancshares (NASDAQ:HBAN) Sees Unusually-High Trading Volume

Huntington Bancshares Incorporated (NASDAQ:HBAN) saw strong trading volume on Friday . 6,814,982 shares traded hands during trading, a decline of 61% from the previous session’s volume of 17,384,248 shares.The stock last traded at $13.10 and had previously closed at $13.18.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Stephens reissued an “equal weight” rating and set a $15.00 price target on shares of Huntington Bancshares in a research report on Monday, April 1st. UBS Group raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price target for the stock from $14.00 to $15.00 in a research report on Wednesday, February 14th. Evercore ISI raised their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. JPMorgan Chase & Co. raised their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Finally, Citigroup raised their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.97.

Huntington Bancshares Stock Performance

The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.87. The firm’s 50 day simple moving average is $13.25 and its 200-day simple moving average is $12.11. The company has a market cap of $19.33 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 2.44 and a beta of 1.11.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, January 19th. The bank reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.15. Huntington Bancshares had a net margin of 18.00% and a return on equity of 12.96%. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the previous year, the company posted $0.43 EPS. On average, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Insiders Place Their Bets

In other news, insider Helga Houston sold 28,700 shares of Huntington Bancshares stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total transaction of $377,979.00. Following the transaction, the insider now owns 568,222 shares in the company, valued at approximately $7,483,483.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Julie C. Tutkovics sold 15,541 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total value of $197,059.88. Following the completion of the sale, the vice president now owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Helga Houston sold 28,700 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $13.17, for a total transaction of $377,979.00. Following the completion of the sale, the insider now directly owns 568,222 shares of the company’s stock, valued at approximately $7,483,483.74. The disclosure for this sale can be found here. Insiders have sold a total of 102,241 shares of company stock valued at $1,360,359 in the last 90 days. 0.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Huntington Bancshares

A number of hedge funds have recently modified their holdings of the company. American Century Companies Inc. lifted its position in Huntington Bancshares by 11.8% in the first quarter. American Century Companies Inc. now owns 189,174 shares of the bank’s stock valued at $2,765,000 after buying an additional 19,959 shares during the last quarter. D.A. Davidson & CO. acquired a new position in Huntington Bancshares in the first quarter valued at about $315,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Huntington Bancshares by 309.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 10,001 shares of the bank’s stock valued at $146,000 after buying an additional 7,558 shares during the last quarter. Panagora Asset Management Inc. lifted its position in Huntington Bancshares by 40.9% in the first quarter. Panagora Asset Management Inc. now owns 104,361 shares of the bank’s stock valued at $1,526,000 after buying an additional 30,296 shares during the last quarter. Finally, Aviva PLC lifted its position in Huntington Bancshares by 58.2% in the first quarter. Aviva PLC now owns 798,754 shares of the bank’s stock valued at $11,678,000 after buying an additional 293,944 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.