Advisors Capital Management LLC bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,676,679 shares of the bank's stock, valued at approximately $29,728,000. Advisors Capital Management LLC owned approximately 0.08% of Huntington Bancshares at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Huntington Bancshares during the second quarter worth $3,134,426,000. Wellington Management Group LLP lifted its holdings in shares of Huntington Bancshares by 4,265.5% during the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank's stock worth $1,215,955,000 after acquiring an additional 68,478,435 shares during the period. Norges Bank acquired a new stake in shares of Huntington Bancshares in the fourth quarter worth approximately $432,584,000. Vanguard Group Inc. boosted its position in shares of Huntington Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank's stock worth $3,319,385,000 after acquiring an additional 14,338,222 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Huntington Bancshares in the second quarter valued at approximately $229,246,000. 80.72% of the stock is owned by institutional investors and hedge funds.
Huntington Bancshares Trading Down 0.9%
NASDAQ:HBAN opened at $17.01 on Friday. The business's 50-day moving average is $17.61 and its two-hundred day moving average is $16.88. The firm has a market capitalization of $34.37 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 0.81 and a beta of 0.94. Huntington Bancshares Incorporated has a 12 month low of $14.89 and a 12 month high of $19.45. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.92 and a quick ratio of 0.91.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its earnings results on Thursday, July 23rd. The bank reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.84 billion. Huntington Bancshares had a return on equity of 11.19% and a net margin of 16.64%.During the same period last year, the business posted $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Research analysts predict that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current fiscal year.
Huntington Bancshares Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 17th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Thursday, September 17th. Huntington Bancshares's payout ratio is presently 48.06%.
Insider Transactions at Huntington Bancshares
In other news, EVP Marcy C. Hingst sold 10,568 shares of the company's stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the transaction, the executive vice president directly owned 267,859 shares in the company, valued at approximately $4,821,462. This represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the firm's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the sale, the director directly owned 612,155 shares of the company's stock, valued at approximately $10,620,889.25. The trade was a 26.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have bought 22,000 shares of company stock valued at $401,219 and have sold 262,061 shares valued at $4,549,432. Corporate insiders own 0.67% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages recently commented on HBAN. Wells Fargo & Company started coverage on shares of Huntington Bancshares in a research report on Monday. They set an "overweight" rating and a $23.00 price target for the company. Piper Sandler raised shares of Huntington Bancshares from a "strong sell" rating to a "hold" rating and set a $18.00 price objective for the company in a research note on Thursday, April 23rd. Truist Financial upped their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Weiss Ratings raised Huntington Bancshares from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, July 6th. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $19.00 target price (down from $21.00) on shares of Huntington Bancshares in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $20.24.
Get Our Latest Stock Analysis on Huntington Bancshares
Huntington Bancshares Profile
(
Free Report)
Huntington Bancshares Incorporated NASDAQ: HBAN is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company's operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.
Huntington's product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.
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