Huntington Bancshares Incorporated (NASDAQ:HBAN) Short Interest Update

Huntington Bancshares Incorporated (NASDAQ:HBAN) saw a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 30,500,000 shares, a drop of 9.4% from the November 15th total of 33,650,000 shares. Based on an average daily trading volume, of 13,430,000 shares, the short-interest ratio is currently 2.3 days.

Insider Activity

In other news, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the transaction, the vice president now owns 496,076 shares in the company, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the transaction, the chief financial officer now owns 259,943 shares in the company, valued at $4,582,795.09. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,699 shares of company stock valued at $757,356 over the last three months. Insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

A number of hedge funds have recently bought and sold shares of the company. Arvest Bank Trust Division bought a new position in Huntington Bancshares in the third quarter valued at about $2,381,000. Heritage Wealth Management Inc. purchased a new stake in Huntington Bancshares in the 2nd quarter worth $744,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Huntington Bancshares by 5.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock valued at $12,414,000 after acquiring an additional 44,662 shares during the period. Petiole USA ltd purchased a new position in Huntington Bancshares in the 3rd quarter worth approximately $3,454,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Huntington Bancshares by 40.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 192,984 shares of the bank’s stock worth $2,837,000 after buying an additional 55,865 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on HBAN shares. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a report on Thursday, December 12th. Evercore ISI raised their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler increased their price objective on shares of Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a research report on Tuesday, December 3rd. Citigroup upped their price objective on shares of Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.41.

Huntington Bancshares Price Performance

HBAN traded down $0.40 during midday trading on Tuesday, hitting $16.86. The stock had a trading volume of 6,816,765 shares, compared to its average volume of 15,764,697. The company has a market cap of $24.49 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 3.47 and a beta of 1.06. Huntington Bancshares has a 1 year low of $12.02 and a 1 year high of $18.44. The business has a fifty day moving average of $16.70 and a 200 day moving average of $14.89. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, topping the consensus estimate 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 period in the previous year, the firm posted $0.36 earnings per share. As a group, equities analysts forecast that Huntington Bancshares will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend yield of 3.68%. Huntington Bancshares’s dividend payout ratio is currently 59.62%.

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.