Insider Selling: Huntington Bancshares Incorporated (NASDAQ:HBAN) CFO Sells $152,393.72 in Stock

Huntington Bancshares Incorporated (NASDAQ:HBAN) CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the transaction, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at $4,582,795.09. The trade was a 3.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Huntington Bancshares Trading Up 0.9 %

Shares of HBAN opened at $17.69 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average price of $15.38 and a 200 day moving average price of $14.34. Huntington Bancshares Incorporated has a 12-month low of $10.73 and a 12-month high of $17.97. The firm has a market capitalization of $25.70 billion, a P/E ratio of 17.01, a P/E/G ratio of 3.53 and a beta of 1.03.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the firm earned $0.36 EPS. Sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be given a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.50%. Huntington Bancshares’s dividend payout ratio is currently 59.62%.

Hedge Funds Weigh In On Huntington Bancshares

A number of hedge funds have recently modified their holdings of HBAN. Lazard Asset Management LLC lifted its position in Huntington Bancshares by 251,152.2% in the first quarter. Lazard Asset Management LLC now owns 173,364 shares of the bank’s stock valued at $2,417,000 after buying an additional 173,295 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Huntington Bancshares by 53.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 1,617,730 shares of the bank’s stock worth $22,577,000 after acquiring an additional 564,729 shares during the last quarter. Heritage Wealth Management Inc. purchased a new position in shares of Huntington Bancshares during the 2nd quarter worth approximately $744,000. Robeco Institutional Asset Management B.V. increased its holdings in Huntington Bancshares by 40.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 192,984 shares of the bank’s stock valued at $2,837,000 after purchasing an additional 55,865 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Huntington Bancshares by 531.0% in the second quarter. SG Americas Securities LLC now owns 1,150,690 shares of the bank’s stock valued at $15,166,000 after purchasing an additional 968,331 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HBAN has been the subject of several research analyst reports. Baird R W downgraded Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Barclays increased their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Argus boosted their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Citigroup raised their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, DA Davidson boosted their price objective on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.09.

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.