Bank of New York Mellon Corp Invests $229.25 Million in Huntington Bancshares Incorporated $HBAN

Key Points

• Bank of New York Mellon acquired 12.93 million Huntington Bancshares shares worth approximately $229.25 million, giving it a 0.64% stake. Institutional investors and hedge funds collectively own 80.72% of HBAN.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $20.24, compared with shares opening at $17.03.
• Huntington reported quarterly earnings of $0.39 per share, matching estimates, and announced a quarterly dividend of $0.155 per share, equating to a 3.6% annualized yield.

Bank of New York Mellon Corp acquired a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,929,862 shares of the bank's stock, valued at approximately $229,246,000. Bank of New York Mellon Corp owned about 0.64% of Huntington Bancshares as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Focus Partners Advisor Solutions LLC bought a new position in shares of Huntington Bancshares in the second quarter worth about $1,694,000. State of Wyoming acquired a new position in Huntington Bancshares during the 2nd quarter worth approximately $223,000. Stoneridge Investment Partners LLC acquired a new position in Huntington Bancshares during the 2nd quarter worth approximately $1,040,000. One Wealth Advisors LLC bought a new position in Huntington Bancshares in the 2nd quarter valued at approximately $319,000. Finally, Hardy Reed LLC bought a new stake in shares of Huntington Bancshares during the second quarter worth $9,510,000. 80.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Huntington Bancshares

In related news, insider Kendall A. Kowalski sold 27,971 shares of Huntington Bancshares stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $17.20, for a total transaction of $481,101.20. Following the completion of the transaction, the insider 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marcy C. Hingst sold 10,568 shares of the business's stock in a transaction on 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 owned 267,859 shares in the company, valued at approximately $4,821,462. The trade was a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders bought 22,000 shares of company stock worth $401,219 and sold 262,061 shares worth $4,549,432. 0.67% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HBAN. Morgan Stanley reiterated an "equal weight" rating and issued a $19.00 price target (down from $21.00) on shares of Huntington Bancshares in a research note on Friday, July 24th. Wells Fargo & Company initiated coverage on Huntington Bancshares in a research report on Monday, August 17th. They issued an "overweight" rating and a $23.00 target price for the company. Evercore reissued an "outperform" rating and set a $21.00 price target on shares of Huntington Bancshares in a research note on Monday, July 6th. Robert W. Baird upped their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. Finally, Wall Street Zen upgraded shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $20.24.

Huntington Bancshares Price Performance

Shares of HBAN opened at $17.03 on Friday. Huntington Bancshares Incorporated has a 1 year low of $14.89 and a 1 year 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. The company has a market capitalization of $34.41 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 0.81 and a beta of 0.94. The business has a 50-day moving average of $17.60 and a 200-day moving average of $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 the consensus estimate of $0.39. Huntington Bancshares had a return on equity of 11.19% and a net margin of 16.64%.The business had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.84 billion. During the same period in the prior year, the business posted $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. As a group, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 17th will be paid a $0.155 dividend. 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 dividend payout ratio is currently 48.06%.

Huntington Bancshares 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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