Great Lakes Advisors LLC Invests $4.59 Million in Huntington Bancshares Incorporated $HBAN

Key Points

• Great Lakes Advisors acquired 112,924 Huntington Bancshares shares worth approximately $4.59 million in the second quarter. Institutional investors collectively own 80.72% of HBAN.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus rating and an average price target of $20.24, compared with the stock’s reported opening price of $17.17.
• Huntington reported quarterly EPS of $0.39, matching estimates, and announced a quarterly dividend of $0.155 per share, equating to a 3.6% annualized yield. Insider activity was net negative over the past three months, with substantially more shares sold than purchased.

Great Lakes Advisors LLC purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 112,924 shares of the bank's stock, valued at approximately $4,590,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC lifted its stake in Huntington Bancshares by 5.0% during the 1st quarter. Empowered Funds LLC now owns 28,888 shares of the bank's stock valued at $434,000 after acquiring an additional 1,366 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Huntington Bancshares by 40.8% in the first quarter. Woodline Partners LP now owns 122,821 shares of the bank's stock valued at $1,844,000 after purchasing an additional 35,574 shares during the last quarter. Brown Advisory Inc. raised its holdings in shares of Huntington Bancshares by 8.3% in the second quarter. Brown Advisory Inc. now owns 39,490 shares of the bank's stock valued at $662,000 after purchasing an additional 3,023 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Huntington Bancshares by 6.2% during the second quarter. Daiwa Securities Group Inc. now owns 219,185 shares of the bank's stock valued at $3,674,000 after purchasing an additional 12,865 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Huntington Bancshares by 6.2% during the second quarter. Sei Investments Co. now owns 707,605 shares of the bank's stock worth $11,859,000 after purchasing an additional 41,156 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 transaction of $481,101.20. Following the completion of the sale, the insider directly owned 70,025 shares in the company, valued at $1,204,430. This represents a 28.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 sale, the director directly owned 612,155 shares of the company's stock, valued at $10,620,889.25. The trade was a 26.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have bought 22,000 shares of company stock valued at $401,219 and have sold 262,061 shares valued at $4,549,432. 0.67% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Bank of America reaffirmed 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. Evercore restated an "outperform" rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research note on Monday, July 6th. Robert W. Baird increased their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. Wall Street Zen raised shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $21.00 price objective on shares of Huntington Bancshares in a research note on Tuesday. 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $20.24.

Huntington Bancshares Trading Down 2.8%

NASDAQ HBAN opened at $17.17 on Thursday. The firm has a market cap of $34.69 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 0.84 and a beta of 0.94. Huntington Bancshares Incorporated has a 1-year low of $14.89 and a 1-year high of $19.45. The stock has a 50-day moving average of $17.61 and a 200-day moving average of $16.88. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.63.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $0.39 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.39. The business 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 last year, the company 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 year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 17th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend 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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