Alyeska Investment Group L.P. acquired a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 392,202 shares of the bank's stock, valued at approximately $6,954,000.
Other institutional investors and hedge funds have also modified their holdings of the company. MV Capital Management Inc. acquired a new position in Huntington Bancshares in the fourth quarter valued at approximately $25,000. Palisade Asset Management LLC purchased a new stake in Huntington Bancshares in the 3rd quarter worth approximately $26,000. Centennial Bank AR acquired a new stake in shares of Huntington Bancshares during the 4th quarter worth approximately $28,000. Trust Co. of Vermont acquired a new stake in shares of Huntington Bancshares during the 2nd quarter worth approximately $29,000. Finally, Johnson Financial Group Inc. purchased a new position in shares of Huntington Bancshares during the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 80.72% of the company's stock.
Insider Activity at Huntington Bancshares
In related news, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $18.00, for a total transaction of $190,224.00. Following the transaction, the executive vice president owned 267,859 shares in the company, valued at approximately $4,821,462. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kendall A. Kowalski sold 27,971 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $17.20, for a total value of $481,101.20. Following the completion of the sale, the insider directly owned 70,025 shares of the company's stock, valued at $1,204,430. This trade represents a 28.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 262,061 shares of company stock valued at $4,549,432. Corporate insiders own 0.67% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently issued reports on HBAN. Wells Fargo & Company began coverage on shares of Huntington Bancshares in a report on Monday, August 17th. They set an "overweight" rating and a $23.00 price target on the stock. Bank of America reaffirmed a "neutral" rating and issued a $18.50 price objective (down from $20.00) on shares of Huntington Bancshares in a report on Monday, July 27th. Weiss Ratings upgraded shares of Huntington Bancshares from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, July 6th. Wall Street Zen raised shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, Robert W. Baird raised their target price on Huntington Bancshares from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $20.24.
Get Our Latest Research Report on Huntington Bancshares
Huntington Bancshares Trading Down 1.6%
Shares of Huntington Bancshares stock opened at $16.42 on Wednesday. The firm has a market capitalization of $33.18 billion, a PE ratio of 12.73, a P/E/G ratio of 0.79 and a beta of 0.92. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45. The firm's 50-day moving average price is $17.56 and its 200 day moving average price is $16.78. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.63.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. Huntington Bancshares had a return on equity of 11.19% and a net margin of 16.64%.The firm had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.84 billion. During the same period in the previous year, the business earned $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. On average, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.61 EPS for the current fiscal year.
Huntington Bancshares Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 17th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Thursday, September 17th. Huntington Bancshares's dividend payout ratio is currently 48.06%.
About Huntington Bancshares
(
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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