BlackRock Inc. Acquires New Stake in Huntington Bancshares Incorporated $HBAN

Key Points

• BlackRock acquired 176.8 million Huntington Bancshares shares worth approximately $3.13 billion, giving it an 8.75% stake. Institutional investors collectively own 80.72% of HBAN.
• Analysts maintain a generally positive view, with Huntington receiving a “Moderate Buy” consensus rating and an average price target of $20.24. Recent targets range from $18.00 to $22.00.
• Huntington reported quarterly EPS of $0.39, in line with estimates, and revenue of $2.86 billion, ahead of expectations. The bank also declared a quarterly dividend of $0.155 per share, representing a 3.5% annualized yield.

BlackRock Inc. acquired a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 176,786,560 shares of the bank's stock, valued at approximately $3,134,426,000. BlackRock Inc. owned 8.75% of Huntington Bancshares as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. MV Capital Management Inc. purchased a new position in Huntington Bancshares in the 4th quarter valued at approximately $25,000. Palisade Asset Management LLC purchased a new stake in shares of Huntington Bancshares during the third quarter worth about $26,000. Centennial Bank AR purchased a new stake in shares of Huntington Bancshares during the fourth quarter worth about $28,000. Trust Co. of Vermont acquired a new position in shares of Huntington Bancshares in the second quarter valued at approximately $29,000. Finally, Johnson Financial Group Inc. grew its stake in Huntington Bancshares by 48.8% in the 1st quarter. Johnson Financial Group Inc. now owns 2,157 shares of the bank's stock worth $34,000 after acquiring an additional 707 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 27,971 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $17.20, for a total transaction of $481,101.20. Following the completion of the sale, the insider directly owned 70,025 shares in the company, valued at approximately $1,204,430. This trade represents a 28.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Marcy C. Hingst sold 10,568 shares of the firm's 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 sale, the executive vice president owned 267,859 shares of the company's stock, valued at approximately $4,821,462. This represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders bought 22,000 shares of company stock valued at $401,219 and sold 262,061 shares valued at $4,549,432. Insiders own 0.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on HBAN shares. Bank of America restated a "neutral" rating and set a $18.50 price objective (down from $20.00) on shares of Huntington Bancshares in a report on Monday, July 27th. UBS Group increased their target price on Huntington Bancshares from $21.00 to $22.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Stephens reduced 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. Jefferies Financial Group set a $18.00 price objective on shares of Huntington Bancshares in a report on Thursday, July 23rd. Finally, Evercore reiterated an "outperform" rating and issued a $21.00 target price on shares of Huntington Bancshares in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Huntington Bancshares presently has an average rating of "Moderate Buy" and an average price target of $20.24.

Huntington Bancshares Stock Performance

HBAN stock opened at $17.66 on Wednesday. The company has a 50-day simple moving average of $17.60 and a 200 day simple moving average of $16.88. The company has a market capitalization of $35.68 billion, a P/E ratio of 13.69, a PEG ratio of 0.85 and a beta of 0.94. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.63. Huntington Bancshares Incorporated has a fifty-two week low of $14.89 and a fifty-two week high of $19.45.

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, 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 for the quarter, compared to analysts' expectations of $2.84 billion. During the same quarter in the previous year, the company earned $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Sell-side analysts predict that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 17th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.5%. The ex-dividend date is Thursday, September 17th. Huntington Bancshares's payout ratio is presently 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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