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Snatch This Bargain Even Cheaper Than Sr EVP of Principal Sub Benhase Did

By Dividend Channel Staff, Monday, May 21, 9:59 AM ET
Play Video: One Reason For Insiders to Buy


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There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on May 10, Huntington Bancshares, Inc's Sr EVP of Principal Sub, Daniel B. Benhase, invested $64,996.00 into 10,000 shares of HBAN, for a cost per share of $6.50. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

In trading on Monday, bargain hunters could buy shares of Huntington Bancshares, Inc (NASDAQ:HBAN) and achieve a cost basis 5.2% cheaper than Benhase, with shares changing hands as low as $6.16 per share. Huntington Bancshares, Inc shares are currently trading up about 0.2% on the day. The chart below shows the one year performance of HBAN shares, versus its 200 day moving average:

Huntington Bancshares, Inc Chart

Looking at the chart above, HBAN's low point in its 52 week range is $4.46 per share, with $6.83 as the 52 week high point that compares with a last trade of $6.18. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
04/20/2012 Daniel B. Benhase Sr EVP of Principal Sub 5,000 $6.51 $32,550.00
04/23/2012 James E. Dunlap Regional Banking Group Pres. 3,000 $6.44 $19,320.00
04/23/2012 Stephen D. Steinour President, CEO & Chairman 18,150 $6.48 $117,689.35
05/10/2012 Daniel B. Benhase Sr EVP of Principal Sub 10,000 $6.50 $64,996.00

The current annualized dividend paid by Huntington Bancshares, Inc is $0.16/share, currently paid in quarterly installments, and its most recent dividend has an upcoming ex-date of 06/14/2012. Below is a long-term dividend history chart for HBAN, which can be of good help in judging whether the most recent dividend with approx. 2.6% annualized yield is likely to continue.

HBAN makes up 4.85% of the KBW Bank Portfolio ETF (AMEX:KBWB)


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This Article's Word Cloud:   Bancshares   Benhase   Daniel   HBAN   Huntington   Portfolio   Principal   Share   Value   about   afterLeftLabels   annualized   bargain   below   buying   changing   chart   chartBackgroundColor   cost   currently   date   dividend   earned   escape   expect   fillColor   history   hunters   insider   judging   last   makes   many   most   movingAverages   only   paid   point   reason   recent   share   shares   stock   that   their   this   trading   week   which   with

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