Huntington Bancshares Incorporated $HBAN Shares Bought by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC increased its Huntington Bancshares stake by 6.3% in the second quarter, acquiring 156,331 shares and holding 2.62 million shares valued at approximately $46.5 million. Institutional investors collectively own 80.72% of HBAN.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $20.24; recent targets range from $18.50 to $23.00.
• Huntington reported quarterly EPS of $0.39, in line with estimates, and revenue of $2.86 billion, slightly above expectations. The company also declared a quarterly dividend of $0.155 per share, representing a 3.7% annualized yield.

Squarepoint Ops LLC grew its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 6.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,622,421 shares of the bank's stock after acquiring an additional 156,331 shares during the quarter. Squarepoint Ops LLC owned about 0.13% of Huntington Bancshares worth $46,496,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. MV Capital Management Inc. purchased a new stake in Huntington Bancshares during the 4th quarter valued at approximately $25,000. Palisade Asset Management LLC purchased a new position in shares of Huntington Bancshares in the 3rd quarter valued at approximately $26,000. Centennial Bank AR acquired a new position in shares of Huntington Bancshares in the fourth quarter valued at approximately $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. acquired a new stake in shares of Huntington Bancshares during the second quarter worth $31,000. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Kendall Kowalski sold 27,971 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $17.20, for a total transaction of $481,101.20. Following the sale, the insider owned 70,025 shares in the company, valued at $1,204,430. This trade represents a 28.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James Rollins, III sold 223,522 shares of Huntington Bancshares stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $17.35, for a total value of $3,878,106.70. Following the completion of the sale, the director owned 612,155 shares of the company's stock, valued at $10,620,889.25. This trade represents a 26.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 262,061 shares of company stock worth $4,549,432. 0.67% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Huntington Bancshares from $18.50 to $19.50 and gave the stock an "overweight" rating in a research note on Monday, July 6th. Royal Bank Of Canada reissued an "outperform" rating and set a $21.00 price target on shares of Huntington Bancshares in a report on Tuesday, August 18th. Wells Fargo & Company began coverage on Huntington Bancshares in a report on Monday, August 17th. They issued an "overweight" rating and a $23.00 price objective on the stock. Robert W. Baird boosted 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. Finally, Bank of America reissued a "neutral" rating and set a $18.50 target price (down from $20.00) on shares of Huntington Bancshares in a research note on Monday, July 27th. 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 assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $20.24.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $16.76 on Wednesday. Huntington Bancshares Incorporated has a 12-month low of $14.89 and a 12-month high of $19.45. The stock has a market cap of $33.86 billion, a P/E ratio of 12.99, a PEG ratio of 0.93 and a beta of 0.92. 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 50-day moving average of $17.48 and a two-hundred day moving average of $16.76.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its earnings results on Thursday, July 23rd. The bank reported $0.39 earnings per share for the quarter, meeting the consensus estimate of $0.39. Huntington Bancshares had a net margin of 16.64% and a return on equity of 11.19%. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the previous year, the company posted $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. As a group, research analysts predict that Huntington Bancshares Incorporated will post 1.61 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 17th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.7%. Huntington Bancshares's dividend 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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