Huntington Bancshares (NASDAQ:HBAN) Reaches New 52-Week Low - Should You Sell?

Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report)'s share price reached a new 52-week low during trading 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.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HBAN. Barclays upped their price target on Huntington Bancshares from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. Morgan Stanley dropped their target price on shares of Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Truist Financial upped their price objective on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Royal Bank of Canada reiterated an "outperform" rating and issued a $20.00 target price on shares of Huntington Bancshares in a research note on Tuesday, January 21st. Finally, Baird R W raised Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.94.

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Huntington Bancshares Price Performance

The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The company has a market cap of $18.83 billion, a P/E ratio of 10.48, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The firm's 50 day moving average price is $15.21 and its 200-day moving average price is $16.05.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter last year, the firm posted $0.27 earnings per share. As a group, equities research analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.81%. The ex-dividend date was Tuesday, March 18th. Huntington Bancshares's payout ratio is 50.41%.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, VP Brendan A. Lawlor sold 3,521 shares of Huntington Bancshares stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.25, for a total transaction of $53,695.25. Following the transaction, the vice president now directly owns 47,950 shares in the company, valued at approximately $731,237.50. The trade was a 6.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Scott D. Kleinman sold 69,088 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the completion of the sale, the vice president now owns 453,129 shares of the company's stock, valued at $6,647,402.43. This trade represents a 13.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,781 shares of company stock worth $1,631,151. 0.89% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Carlson Capital Management boosted its stake in Huntington Bancshares by 0.4% in the 4th quarter. Carlson Capital Management now owns 163,575 shares of the bank's stock worth $2,661,000 after purchasing an additional 692 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Huntington Bancshares by 6.0% during the fourth quarter. Farther Finance Advisors LLC now owns 12,317 shares of the bank's stock worth $200,000 after buying an additional 699 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of Huntington Bancshares by 27.2% during the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank's stock worth $53,000 after buying an additional 702 shares in the last quarter. CreativeOne Wealth LLC lifted its stake in Huntington Bancshares by 4.0% in the 4th quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank's stock valued at $326,000 after acquiring an additional 762 shares in the last quarter. Finally, Lantz Financial LLC boosted its position in Huntington Bancshares by 6.1% during the 4th quarter. Lantz Financial LLC now owns 13,766 shares of the bank's stock worth $224,000 after acquiring an additional 790 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.

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.