Huntington Bancshares (NASDAQ:HBAN) Shares Gap Down to $11.13

Huntington Bancshares Incorporated (NASDAQ:HBANGet Rating)’s share price gapped down prior to trading on Friday . The stock had previously closed at $11.13, but opened at $10.62. Huntington Bancshares shares last traded at $10.50, with a volume of 5,820,492 shares trading hands.

Analyst Upgrades and Downgrades

HBAN has been the subject of a number of recent research reports. Piper Sandler reduced their target price on shares of Huntington Bancshares from $15.00 to $14.50 in a research report on Friday, March 10th. Royal Bank of Canada reduced their target price on shares of Huntington Bancshares from $18.00 to $16.00 and set an “outperform” rating for the company in a research report on Tuesday, March 14th. Wolfe Research boosted their target price on shares of Huntington Bancshares from $13.00 to $14.00 in a research report on Thursday, December 1st. Morgan Stanley reduced their target price on shares of Huntington Bancshares from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, January 23rd. Finally, JPMorgan Chase & Co. cut shares of Huntington Bancshares from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $15.50 to $14.50 in a research report on Tuesday, December 13th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $15.47.

Huntington Bancshares Stock Performance

The firm has a market cap of $14.99 billion, a price-to-earnings ratio of 7.13, a P/E/G ratio of 5.45 and a beta of 1.11. The stock has a 50 day moving average of $14.51 and a 200 day moving average of $14.33. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.62.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 20th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 6.00%. The ex-dividend date is Friday, March 17th. Huntington Bancshares’s payout ratio is 42.76%.

Insiders Place Their Bets

In other Huntington Bancshares news, Director David L. Porteous sold 80,000 shares of the business’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $15.01, for a total transaction of $1,200,800.00. Following the completion of the transaction, the director now owns 62,845 shares of the company’s stock, valued at $943,303.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. CI Investments Inc. increased its stake in shares of Huntington Bancshares by 994.3% in the third quarter. CI Investments Inc. now owns 1,904 shares of the bank’s stock valued at $25,000 after buying an additional 1,730 shares during the period. Allworth Financial LP increased its stake in shares of Huntington Bancshares by 91.9% in the third quarter. Allworth Financial LP now owns 1,998 shares of the bank’s stock valued at $26,000 after buying an additional 957 shares during the period. Archer Investment Corp acquired a new position in shares of Huntington Bancshares in the fourth quarter valued at approximately $27,000. Retirement Financial Solutions LLC acquired a new position in shares of Huntington Bancshares in the fourth quarter valued at approximately $28,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Huntington Bancshares by 149.8% in the third quarter. EverSource Wealth Advisors LLC now owns 2,573 shares of the bank’s stock valued at $34,000 after buying an additional 1,543 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

About Huntington Bancshares

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Huntington Bancshares, Inc operates as a bank holding company. It provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, other financial products and services.

Further Reading

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