Insider Selling: Huntington Bancshares Incorporated (NASDAQ:HBAN) VP Sells $368,350.15 in Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) VP Rajeev Syal sold 27,265 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $13.51, for a total transaction of $368,350.15. Following the completion of the sale, the vice president now owns 397,173 shares in the company, valued at approximately $5,365,807.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Rajeev Syal also recently made the following trade(s):

• On Wednesday, May 1st, Rajeev Syal sold 11,627 shares of Huntington Bancshares stock. The stock was sold at an average price of $13.67, for a total transaction of $158,941.09.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $13.80 on Friday. The firm has a market capitalization of $19.98 billion, a P/E ratio of 12.43, a PEG ratio of 2.52 and a beta of 1.09. Huntington Bancshares Incorporated has a 1 year low of $9.13 and a 1 year high of $14.07. The business has a 50-day moving average of $13.42 and a 200-day moving average of $12.35. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same period in the previous year, the company earned $0.38 EPS. On average, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a $0.155 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.62 annualized dividend and a dividend yield of 4.49%. Huntington Bancshares’s dividend payout ratio is presently 55.86%.

Hedge Funds Weigh In On Huntington Bancshares

Several institutional investors and hedge funds have recently modified their holdings of HBAN. Future Financial Wealth Managment LLC bought a new stake in Huntington Bancshares in the 1st quarter valued at approximately $29,000. YHB Investment Advisors Inc. acquired a new position in shares of Huntington Bancshares during the 1st quarter worth approximately $30,000. Wetzel Investment Advisors Inc. acquired a new position in Huntington Bancshares in the 4th quarter valued at $29,000. Nemes Rush Group LLC grew its holdings in Huntington Bancshares by 140.9% in the 4th quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock valued at $30,000 after buying an additional 1,391 shares in the last quarter. Finally, Planned Solutions Inc. acquired a new position in Huntington Bancshares in the 4th quarter valued at $33,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Stephens restated an “equal weight” rating and issued a $15.00 price objective on shares of Huntington Bancshares in a research note on Monday, April 22nd. Keefe, Bruyette & Woods raised their target price on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Jefferies Financial Group raised Huntington Bancshares from a “hold” rating to a “buy” rating and raised their target price for the stock from $14.00 to $16.00 in a research report on Monday, April 8th. Royal Bank of Canada raised their target price on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Finally, Bank of America raised Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their target price for the stock from $14.00 to $16.00 in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average target price of $15.17.

About Huntington Bancshares

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.