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Huntington Bancshares CEO Stephen Steinour Buys 41,525 Shares

July 27, 2011 | About:
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hyperman299

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President, CEO & Chairman of Huntington Bancshares Inc. (HBAN) Stephen D. Steinour bought 41,525 shares of the company on 07/26/2011 at an average price of $6.02. The total transaction amount is $249,980.

Huntington Bancshares is a multi-state bank holding company. Huntington Bancshares Inc. has a market cap of $5.18 billion; its shares were traded at around $5.995 with a P/E ratio of 13.7 and P/S ratio of 1.6. The dividend yield of Huntington Bancshares Inc. stocks is 0.7%.

Stephen D. Steinour is the Chairman, CEO, and President of huntington Bancshares. Before his position at Huntington, he was part of the Citizens Financial Group for 16 years, where he served in various executive positions. He is also a member of the board of directors for Exelon Corp. and a trustee of Liberty Property Trust.

Huntington Bancshares recently reported 2011 second quarter net income of $145.9 million, up $19.5 million, or 15%, from $126.4 million in the 2011 first quarter. Earnings per common share in the current quarter were $0.16, up $0.02 per share, or 14%, from $0.14 per common share in the prior quarter. Net income in the year-ago quarter was $48.8 million, or $0.03 per common share.

“We are pleased that second quarter results represented our sixth consecutive quarterly increase in earnings and it shows the progress we are making on a number of fronts,” said Stephen D. Steinour, chairman, president, and chief executive officer. “This improvement reflected the benefits from a combination of factors such as our conservative view toward addressing credit quality early in the financial downturn, the increasing contribution from strategic investments, improving customer product penetration, and aspects of our ‘Fair Play’ banking philosophy that are gaining traction every day.”

George Soros bought 10,100 shares in the quarter that ended on 03/31/2011, which is 0.001% of the $6.42 billion portfolio of Soros Fund Management LLC. Arnold Schneider owns 5,154,060 shares as of 03/31/2011, which accounts for 1.88% of the $1.82 billion portfolio of Schneider Capital Management. Lee Ainslie sold out his holdings in the quarter that ended on 03/31/2011.

Director Richard W Neu bought 20,000 shares of HBAN stock on 07/25/2011 at the average price of 6.06. Richard W Neu owns at least 79,051 shares after this. The price of the stock has decreased by 1.07% since.

Huntington Bancshares has a predictability rating of 1 star.


Rating: 2.4/5 (10 votes)

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