Huntington Bancshares Incorporated (NASDAQ:HBAN) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 19,240,885 shares, a growth of 61.9% from the May 31st total of 11,885,402 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average daily volume of 8,673,201 shares, the days-to-cover ratio is currently 2.2 days.
A number of analysts recently commented on HBAN shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $17.00 target price on shares of Huntington Bancshares in a report on Tuesday, February 27th. BidaskClub downgraded shares of Huntington Bancshares from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 1st. ValuEngine upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. UBS Group started coverage on shares of Huntington Bancshares in a report on Wednesday, March 21st. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Thursday, March 29th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Huntington Bancshares presently has a consensus rating of “Buy” and an average target price of $16.98.
In related news, Director David L. Porteous sold 62,000 shares of the business’s stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $15.06, for a total value of $933,720.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Paul G. Heller sold 28,251 shares of the business’s stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $15.28, for a total transaction of $431,675.28. Following the completion of the sale, the executive vice president now owns 463,412 shares in the company, valued at $7,080,935.36. The disclosure for this sale can be found here. Insiders sold a total of 117,387 shares of company stock worth $1,774,808 over the last quarter. Insiders own 1.05% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in HBAN. Macquarie Group Ltd. grew its position in Huntington Bancshares by 18.7% during the fourth quarter. Macquarie Group Ltd. now owns 847,190 shares of the bank’s stock valued at $13,892,000 after purchasing an additional 133,654 shares in the last quarter. Mackenzie Financial Corp purchased a new position in Huntington Bancshares during the fourth quarter valued at approximately $20,189,000. Deutsche Bank AG grew its position in Huntington Bancshares by 123.8% during the fourth quarter. Deutsche Bank AG now owns 3,140,256 shares of the bank’s stock valued at $45,718,000 after purchasing an additional 1,737,095 shares in the last quarter. BB&T Securities LLC grew its position in Huntington Bancshares by 34.8% during the fourth quarter. BB&T Securities LLC now owns 397,094 shares of the bank’s stock valued at $5,781,000 after purchasing an additional 102,414 shares in the last quarter. Finally, Bowen Hanes & Co. Inc. grew its position in Huntington Bancshares by 16.9% during the fourth quarter. Bowen Hanes & Co. Inc. now owns 185,690 shares of the bank’s stock valued at $2,704,000 after purchasing an additional 26,900 shares in the last quarter. Institutional investors and hedge funds own 74.50% of the company’s stock.
HBAN stock opened at $15.05 on Wednesday. Huntington Bancshares has a 52-week low of $12.14 and a 52-week high of $16.60. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.85. The company has a market cap of $16.91 billion, a PE ratio of 15.36, a PEG ratio of 1.07 and a beta of 1.32.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Tuesday, April 24th. The bank reported $0.28 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.28. Huntington Bancshares had a net margin of 26.97% and a return on equity of 12.64%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the business earned $0.21 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. equities research analysts anticipate that Huntington Bancshares will post 1.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Monday, June 18th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, June 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.92%. Huntington Bancshares’s dividend payout ratio is currently 44.90%.
About Huntington Bancshares
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company's Consumer and Business Banking segment offers financial products and services, such as checking accounts, savings accounts, money market accounts, certificates of deposit, consumer loans, and small business loans; and investments, mortgages, insurance, interest rate risk protection, and foreign exchange and treasury management services.
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