Algebris UK Ltd. Invests $38.45 Million in Huntington Bancshares Incorporated $HBAN

Key Points

• Algebris UK Ltd. acquired 2.18 million Huntington Bancshares shares worth approximately $38.5 million during the second quarter, making HBAN 2.5% of its portfolio. Institutional investors collectively own 80.72% of the stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $20.24, compared with shares trading near $17.17.
• Huntington reported quarterly EPS of $0.39, in line with estimates, and revenue of $2.86 billion, slightly above expectations. The bank also declared a quarterly dividend of $0.155 per share, equivalent to a 3.6% annualized yield.

Algebris UK Ltd. acquired a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,175,752 shares of the bank's stock, valued at approximately $38,455,000. Huntington Bancshares comprises 2.5% of Algebris UK Ltd.'s investment portfolio, making the stock its 18th largest holding. Algebris UK Ltd. owned 0.11% of Huntington Bancshares at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HBAN. MV Capital Management Inc. bought a new position in shares of Huntington Bancshares during the fourth quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new position in shares of Huntington Bancshares during the 3rd quarter worth approximately $26,000. Centennial Bank AR acquired a new position in shares of Huntington Bancshares during the 4th quarter worth approximately $28,000. Trust Co. of Vermont bought a new position in shares of Huntington Bancshares during the second quarter worth approximately $29,000. Finally, Johnson Financial Group Inc. bought a new stake in shares of Huntington Bancshares in the second quarter valued at approximately $31,000. 80.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on HBAN shares. Evercore reaffirmed an "outperform" rating and issued a $21.00 price objective on shares of Huntington Bancshares in a report on Monday, July 6th. Morgan Stanley restated an "equal weight" rating and issued a $19.00 target price (down from $21.00) on shares of Huntington Bancshares in a research report on Friday, July 24th. Robert W. Baird upped their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Jefferies Financial Group set a $18.00 target price on Huntington Bancshares in a research report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. increased their price target on Huntington Bancshares from $18.50 to $19.50 and gave the company an "overweight" rating in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $20.24.

Insider Activity at Huntington Bancshares

In other news, insider Kendall A. Kowalski sold 27,971 shares of the firm's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $17.20, for a total value of $481,101.20. Following the completion of the sale, the insider owned 70,025 shares in the company, valued at approximately $1,204,430. This trade represents a 28.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James D. Rollins III sold 223,522 shares of the firm's stock in a transaction dated 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 transaction, the director directly owned 612,155 shares in the company, valued at $10,620,889.25. This trade represents a 26.75% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders acquired 22,000 shares of company stock valued at $401,219 and sold 262,061 shares valued at $4,549,432. 0.67% of the stock is owned by insiders.

Huntington Bancshares Trading Down 2.8%

Shares of HBAN stock opened at $17.17 on Thursday. The company has a market capitalization of $34.69 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 0.84 and a beta of 0.94. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.91 and a current ratio of 0.92. Huntington Bancshares Incorporated has a 52-week low of $14.89 and a 52-week high of $19.45. The business's fifty day moving average is $17.61 and its 200 day moving average is $16.88.

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 analysts' consensus estimates of $0.39. Huntington Bancshares had a return on equity of 11.19% and a net margin of 16.64%.The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the prior year, the company earned $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. On average, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.61 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 17th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Thursday, September 17th. Huntington Bancshares's payout ratio is currently 48.06%.

Huntington Bancshares Company Profile

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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