Huntington Bancshares (NASDAQ:HBAN) Reaches New 1-Year Low – Should You Sell?

Huntington Bancshares Incorporated (NASDAQ:HBAN) shares hit a new 52-week low on Monday . The stock traded as low as $11.92 and last traded at $12.03, with a volume of 2201219 shares traded. The stock had previously closed at $12.60.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Citigroup dropped their price objective on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, March 24th. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. Royal Bank of Canada restated an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Robert W. Baird upgraded Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price target for the company in a report on Friday, March 7th. Finally, Piper Sandler lowered their price target on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.94.

Huntington Bancshares Price Performance

The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The stock’s fifty day moving average is $15.79 and its 200-day moving average is $16.15. The stock has a market capitalization of $18.36 billion, a PE ratio of 10.27, a P/E/G ratio of 1.33 and a beta of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter in the prior year, the business posted $0.27 earnings per share. As a group, equities analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.155 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.62 annualized dividend and a yield of 4.93%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.41%.

Insider Transactions at Huntington Bancshares

In related news, VP Brendan A. Lawlor sold 3,521 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the sale, the vice president now owns 47,950 shares of the company’s stock, valued at approximately $731,237.50. This represents a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total transaction of $552,925.38. Following the completion of the sale, the chief financial officer now directly owns 335,538 shares of the company’s stock, valued at approximately $4,825,036.44. This trade represents a 10.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,781 shares of company stock valued at $1,631,151. Corporate insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Several hedge funds have recently modified their holdings of HBAN. Creative Capital Management Investments LLC raised its position in Huntington Bancshares by 17,533.3% in the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,578 shares in the last quarter. Y.D. More Investments Ltd lifted its stake in Huntington Bancshares by 126.8% in the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock worth $30,000 after acquiring an additional 1,023 shares during the last quarter. Midwest Capital Advisors LLC acquired a new position in Huntington Bancshares during the 4th quarter worth approximately $37,000. Transce3nd LLC purchased a new stake in shares of Huntington Bancshares in the 4th quarter valued at approximately $48,000. Finally, Asset Dedication LLC raised its holdings in shares of Huntington Bancshares by 70.0% in the 4th quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock valued at $50,000 after purchasing an additional 1,260 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Company Profile

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.