Empowered Funds LLC Invests $3.08 Million in Huntington Bancshares Incorporated $HBAN

Key Points

• Empowered Funds LLC acquired 173,524 shares of Huntington Bancshares worth approximately $3.08 million in the second quarter. Institutional investors collectively own 80.72% of the bank’s stock.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $20.24, above its reported trading price of $16.42.
• Huntington Bancshares reported quarterly earnings of $0.39 per share, in line with estimates, and declared a quarterly dividend of $0.155 per share, representing an annualized yield of about 3.8%; insiders sold roughly $4.55 million of stock over the past 90 days.

Empowered Funds LLC acquired a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 173,524 shares of the bank's stock, valued at approximately $3,077,000.

Several other hedge funds also recently bought and sold shares of HBAN. BlackRock Inc. bought a new position in Huntington Bancshares in the 2nd quarter valued at $3,134,426,000. Wellington Management Group LLP increased its holdings in shares of Huntington Bancshares by 4,265.5% in the fourth quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank's stock worth $1,215,955,000 after purchasing an additional 68,478,435 shares during the period. Norges Bank bought a new position in shares of Huntington Bancshares in the fourth quarter worth $432,584,000. Bank of America Corp DE purchased a new stake in shares of Huntington Bancshares in the second quarter worth $256,772,000. Finally, Bank of New York Mellon Corp bought a new stake in Huntington Bancshares during the second quarter valued at $229,246,000. Hedge funds and other institutional investors own 80.72% of the company's stock.

Insider Buying and Selling at Huntington Bancshares

In other news, 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 value of $481,101.20. Following the completion of the sale, the insider owned 70,025 shares of the company's stock, valued at approximately $1,204,430. This represents a 28.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James D. Rollins III sold 223,522 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the transaction, the director directly owned 612,155 shares in the company, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 262,061 shares of company stock worth $4,549,432 over the last ninety days. Insiders own 0.67% of the company's stock.

Wall Street Analyst Weigh In

HBAN has been the subject of several recent analyst reports. Jefferies Financial Group set a $18.00 target price on Huntington Bancshares in a research report on Thursday, July 23rd. Robert W. Baird lifted their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. UBS Group boosted their price objective on Huntington Bancshares from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. upped their price objective on shares of Huntington Bancshares from $18.50 to $19.50 and gave the stock an "overweight" rating in a research report on Monday, July 6th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $21.00 target price on shares of Huntington Bancshares in a research note on Tuesday, August 18th. One investment 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 issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $20.24.

Huntington Bancshares Trading Down 1.6%

Shares of HBAN stock opened at $16.42 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $17.56 and a two-hundred day moving average price of $16.78. Huntington Bancshares Incorporated has a 12-month low of $14.89 and a 12-month high of $19.45. The firm has a market cap of $33.18 billion, a P/E ratio of 12.73, a price-to-earnings-growth ratio of 0.79 and a beta of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings data 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 period in the prior year, the company earned $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Equities analysts anticipate that Huntington Bancshares Incorporated will post 1.61 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 17th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Thursday, September 17th. Huntington Bancshares's dividend payout ratio (DPR) is presently 48.06%.

About Huntington Bancshares

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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