California State Teachers Retirement System Boosts Stock Position in Huntington Bancshares Incorporated $HBAN

Key Points

• California State Teachers Retirement System increased its Huntington Bancshares stake by 1,901.5% in the second quarter, adding nearly 48.3 million shares. It now owns approximately 50.8 million shares, or 2.52% of HBAN, valued at about $901.4 million.
• Huntington Bancshares reported quarterly EPS of $0.39, matching estimates, while revenue of $2.86 billion exceeded expectations. The company also declared a quarterly dividend of $0.155 per share, representing a 3.7% yield.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $20.24. HBAN recently traded at $16.86, within a 12-month range of $14.89 to $19.45.

California State Teachers Retirement System increased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 1,901.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,838,045 shares of the bank's stock after acquiring an additional 48,297,988 shares during the period. California State Teachers Retirement System owned about 2.52% of Huntington Bancshares worth $901,359,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HBAN. MV Capital Management Inc. acquired a new stake in shares of Huntington Bancshares during the fourth quarter worth about $25,000. Palisade Asset Management LLC acquired a new position in shares of Huntington Bancshares in the third quarter valued at approximately $26,000. Centennial Bank AR purchased a new stake in Huntington Bancshares during the 4th quarter worth approximately $28,000. Trust Co. of Vermont purchased a new stake in Huntington Bancshares during the 2nd quarter worth approximately $29,000. Finally, Johnson Financial Group Inc. acquired a new stake in Huntington Bancshares during the 2nd quarter worth approximately $31,000. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Huntington Bancshares

In related news, 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 value of $190,224.00. Following the completion of the sale, the executive vice president directly owned 267,859 shares of the company's stock, valued at $4,821,462. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kendall A. Kowalski sold 27,971 shares of the company's 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 represents a 28.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.67% of the company's stock.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $16.86 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.63. The company has a fifty day simple moving average of $17.41 and a 200-day simple moving average of $16.74. The stock has a market cap of $34.06 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 0.92 and a beta of 0.92. Huntington Bancshares Incorporated has a 12-month low of $14.89 and a 12-month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its earnings results on Thursday, July 23rd. The bank reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.84 billion. Huntington Bancshares had a return on equity of 11.19% and a net margin of 16.64%.During the same quarter in the prior year, the company posted $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Equities analysts expect 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. Stockholders of record on Thursday, September 17th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Thursday, September 17th. Huntington Bancshares's payout ratio is currently 48.06%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Stephens dropped their price target on shares of Huntington Bancshares from $20.00 to $19.00 and set an "equal weight" rating for the company in a research note on Friday, July 24th. Bank of America reiterated a "neutral" rating and issued a $18.50 target price (down from $20.00) on shares of Huntington Bancshares in a report on Monday, July 27th. Wells Fargo & Company initiated coverage on Huntington Bancshares in a research note on Monday, August 17th. They set an "overweight" rating and a $23.00 target price for the company. JPMorgan Chase & Co. upped their price target on Huntington Bancshares from $18.50 to $19.50 and gave the stock an "overweight" rating in a report on Monday, July 6th. Finally, Jefferies Financial Group set a $18.00 price target on Huntington Bancshares in a research report on Thursday, July 23rd. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $20.24.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company offers consumer and commercial deposit accounts, lending products, mortgage banking, wealth management, investment services, insurance, payment solutions and treasury management. Its lending activities include residential mortgages, auto loans, consumer credit, small-business financing and commercial loans.

Founded in 1866, Huntington serves customers through branches, digital banking channels and business offices across the Midwest and other selected markets.

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