COLUMBUS, OH - In a recent transaction on April 23, Huntington Bancshares Inc. (NASDAQ:HBAN) CFO and Senior Executive Vice President, Zachary Jacob Wasserman, sold 30,000 shares of the company's common stock. The shares were sold at an average price of $13.66, amounting to a total value of $409,800.
The sale was publicly disclosed in a filing with the Securities and Exchange Commission. Following the transaction, Wasserman still holds a significant stake in the bank, with 305,884.217 shares remaining in his possession. It's worth noting that this total includes accrued dividend equivalents which are automatically reinvested on awards of restricted stock units.
Huntington Bancshares, headquartered in Columbus, Ohio, is a regional bank holding company providing commercial, small business, and consumer banking services. The company has been a staple in the financial industry, with a history dating back to its founding in 1866.
Investors often monitor the buying and selling activities of company insiders like CFOs for insights into the financial health and future prospects of the company. The transactions can be seen as a reflection of the executives' confidence in the firm's performance and potential.
For those holding or considering an investment in Huntington Bancshares, this recent sale by a top executive is a notable event, although the reasons behind the sale are not disclosed in the filing. The stock continues to be watched closely by market participants for any signs that might indicate the company's direction.
The bank's shares are traded on the NASDAQ stock market under the ticker symbol HBAN.
InvestingPro Insights
In light of the recent sale by Huntington Bancshares Inc. (NASDAQ:HBAN) CFO Zachary Jacob Wasserman, investors may be seeking additional context to gauge the stock's potential. According to InvestingPro data, Huntington Bancshares has a market capitalization of approximately $19.68 billion and a price-to-earnings (P/E) ratio of 12.12, reflecting a valuation that is in line with industry standards. The company's P/E ratio has remained stable with a slight adjustment to 12.11 over the last twelve months as of Q1 2024.
Despite a challenging environment with revenue growth declining by 5.77% over the last twelve months as of Q1 2024, Huntington Bancshares has demonstrated resilience. An InvestingPro Tip highlights that the company has maintained dividend payments for 54 consecutive years, showcasing its commitment to returning value to shareholders. This is further evidenced by a robust dividend yield of 4.51% as of the latest data.
Moreover, the stock has experienced a large price uptick over the last six months, with a 48.8% total return, and is trading near its 52-week high, currently at 96.52% of the peak price. This suggests a positive market sentiment and could indicate underlying strength in the company's stock performance.
Investors considering Huntington Bancshares as part of their portfolio can explore additional insights and metrics on InvestingPro. For those looking to delve deeper, there are 7 more InvestingPro Tips available, which could provide a more comprehensive understanding of the company's financial health and outlook. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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