Azora Capital LP Buys New Stake in Huntington Bancshares Incorporated $HBAN

Key Points

• Azora Capital acquired 3.57 million Huntington Bancshares shares worth approximately $63.3 million, making HBAN its 12th-largest holding and representing about 0.18% of the bank.
• Huntington reported quarterly EPS of $0.39, in line with estimates, and revenue of $2.86 billion, slightly above forecasts. The bank also announced a quarterly dividend of $0.155 per share, equivalent to a 3.6% annualized yield.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $20.24 versus the stock’s reported price of $17.04.

Azora Capital LP purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,569,496 shares of the bank's stock, valued at approximately $63,287,000. Huntington Bancshares makes up 2.7% of Azora Capital LP's portfolio, making the stock its 12th biggest holding. Azora Capital LP owned about 0.18% of Huntington Bancshares at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HBAN. BlackRock Inc. purchased a new stake in shares of Huntington Bancshares in the 2nd quarter valued at about $3,134,426,000. Wellington Management Group LLP grew its stake in 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 buying an additional 68,478,435 shares during the last quarter. Norges Bank acquired a new position in Huntington Bancshares during the fourth quarter worth approximately $432,584,000. Bank of America Corp DE acquired a new position in Huntington Bancshares during the second quarter worth approximately $256,772,000. Finally, Vanguard Group Inc. lifted its stake in Huntington Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank's stock valued at $3,319,385,000 after buying an additional 14,338,222 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Trading Up 0.5%

Shares of HBAN stock opened at $17.04 on Thursday. The business's fifty day moving average price is $17.59 and its 200 day moving average price is $16.83. The firm has a market capitalization of $34.43 billion, a PE ratio of 13.21, a P/E/G ratio of 0.80 and a beta of 0.94. 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 Incorporated has a 1-year low of $14.89 and a 1-year high of $19.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its earnings results on Thursday, July 23rd. The bank reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.84 billion. Huntington Bancshares had a net margin of 16.64% and a return on equity of 11.19%. During the same period in the previous year, the firm earned $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. As a group, sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.61 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HBAN. JPMorgan Chase & Co. lifted their target price on shares of Huntington Bancshares from $18.50 to $19.50 and gave the company an "overweight" rating in a report on Monday, July 6th. Robert W. Baird raised their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. Stephens dropped their price objective on shares of Huntington Bancshares from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Friday, July 24th. Evercore reaffirmed an "outperform" rating and issued a $21.00 target price on shares of Huntington Bancshares in a report on Monday, July 6th. Finally, Wells Fargo & Company assumed coverage on shares of Huntington Bancshares in a research note on Monday, August 17th. They set an "overweight" rating and a $23.00 target price for the company. 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 given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $20.24.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 27,971 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $17.20, for a total transaction of $481,101.20. Following the transaction, the insider directly owned 70,025 shares in the company, valued at approximately $1,204,430. This represents a 28.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Marcy C. Hingst sold 10,568 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the transaction, the executive vice president directly owned 267,859 shares of the company's stock, valued at approximately $4,821,462. This trade represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have purchased 22,000 shares of company stock worth $401,219 and have sold 262,061 shares worth $4,549,432. 0.67% of the stock is currently owned by company insiders.

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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