Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 47,260,000 shares, a growth of 12.5% from the November 30th total of 42,020,000 shares. Based on an average daily volume of 18,280,000 shares, the short-interest ratio is presently 2.6 days.
Wall Street Analysts Forecast Growth
HBAN has been the topic of a number of research analyst reports. Stephens cut Huntington Bancshares from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $15.00 to $16.00 in a research note on Monday, October 24th. Morgan Stanley upgraded shares of Huntington Bancshares from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $16.00 to $19.00 in a research note on Monday, December 5th. The Goldman Sachs Group upped their price target on shares of Huntington Bancshares to $17.50 in a research note on Wednesday, November 16th. Royal Bank of Canada raised their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, November 11th. Finally, Raymond James upped their target price on Huntington Bancshares from $17.00 to $18.00 and gave the company a “strong-buy” rating in a research report on Monday, October 24th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Hold” and a consensus target price of $16.00.
Insider Activity at Huntington Bancshares
In related news, Director Gary Torgow acquired 16,835 shares of the business’s stock in a transaction dated Tuesday, October 25th. The stock was bought at an average price of $14.75 per share, with a total value of $248,316.25. Following the acquisition, the director now owns 910,136 shares in the company, valued at approximately $13,424,506. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Gary Torgow acquired 16,835 shares of the stock in a transaction dated Tuesday, October 25th. The shares were bought at an average cost of $14.75 per share, for a total transaction of $248,316.25. Following the purchase, the director now directly owns 910,136 shares of the company’s stock, valued at $13,424,506. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael Scott Jones sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, November 29th. The shares were sold at an average price of $15.25, for a total transaction of $762,500.00. Following the completion of the sale, the vice president now owns 52,647 shares of the company’s stock, valued at $802,866.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 87,804 shares of company stock valued at $1,346,779. Insiders own 0.72% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of HBAN. Vanguard Group Inc. boosted its stake in shares of Huntington Bancshares by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 167,706,810 shares of the bank’s stock valued at $2,210,376,000 after purchasing an additional 1,780,935 shares in the last quarter. BlackRock Inc. boosted its position in Huntington Bancshares by 1.9% in the third quarter. BlackRock Inc. now owns 140,041,365 shares of the bank’s stock valued at $1,845,745,000 after buying an additional 2,554,894 shares in the last quarter. State Street Corp grew its stake in shares of Huntington Bancshares by 3.1% during the third quarter. State Street Corp now owns 76,435,572 shares of the bank’s stock worth $1,018,994,000 after buying an additional 2,266,557 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Huntington Bancshares by 4.4% during the third quarter. Price T Rowe Associates Inc. MD now owns 72,288,893 shares of the bank’s stock worth $952,769,000 after buying an additional 3,025,509 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Huntington Bancshares by 4.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 39,384,881 shares of the bank’s stock worth $575,807,000 after buying an additional 1,736,566 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.
Huntington Bancshares Price Performance
Huntington Bancshares stock traded down $0.04 during trading hours on Monday, reaching $14.10. 572,860 shares of the stock were exchanged, compared to its average volume of 14,463,064. The stock has a 50 day moving average of $14.74 and a two-hundred day moving average of $13.77. The company has a market cap of $20.34 billion, a P/E ratio of 10.93, a price-to-earnings-growth ratio of 0.45 and a beta of 1.12. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.68. Huntington Bancshares has a twelve month low of $11.67 and a twelve month high of $17.79.
Huntington Bancshares (NASDAQ:HBAN – Get Rating) last posted its quarterly earnings results on Friday, October 21st. The bank reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. Huntington Bancshares had a net margin of 27.34% and a return on equity of 13.76%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the business posted $0.35 EPS. Equities analysts expect that Huntington Bancshares will post 1.47 EPS for the current fiscal year.
Huntington Bancshares Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Monday, December 19th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.40%. The ex-dividend date is Friday, December 16th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 48.06%.
Huntington Bancshares Company Profile
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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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).
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