Huntington Bancshares Incorporated $HBAN Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its Huntington Bancshares stake by 0.9% in the first quarter, selling 170,696 shares and retaining 18.08 million shares valued at approximately $283 million. Institutional investors and hedge funds collectively own 80.72% of HBAN.
• Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and an average price target of $20.11. Recent target changes ranged from $18.00 to $21.00.
• Huntington reported quarterly EPS of $0.39, matching estimates, and revenue of $2.86 billion, slightly exceeding expectations. The company also declared a $0.155 quarterly dividend, equating to a 3.6% yield.

Bank of America Corp DE trimmed its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,084,552 shares of the bank's stock after selling 170,696 shares during the quarter. Bank of America Corp DE owned about 0.89% of Huntington Bancshares worth $283,023,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of HBAN. MV Capital Management Inc. acquired a new position in Huntington Bancshares in the 4th quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new stake in shares of Huntington Bancshares in the third quarter worth $26,000. Centennial Bank AR purchased a new position in shares of Huntington Bancshares during the fourth quarter worth $28,000. Johnson Financial Group Inc. lifted its position in Huntington Bancshares by 48.8% during the first quarter. Johnson Financial Group Inc. now owns 2,157 shares of the bank's stock valued at $34,000 after purchasing an additional 707 shares during the period. Finally, DV Equities LLC purchased a new stake in Huntington Bancshares in the fourth quarter valued at $38,000. Institutional investors and hedge funds own 80.72% of the company's stock.

Analyst Upgrades and Downgrades

HBAN has been the subject of a number of recent research reports. Piper Sandler upgraded Huntington Bancshares from a "strong sell" rating to a "hold" rating and set a $18.00 price objective for the company in a research note on Thursday, April 23rd. The Goldman Sachs Group lowered their target price on Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Royal Bank Of Canada raised their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. Morgan Stanley reiterated an "equal weight" rating and set a $19.00 price target (down from $21.00) on shares of Huntington Bancshares in a research report on Friday, July 24th. Finally, Truist Financial boosted their price target on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $20.11.

Insiders Place Their Bets

In related news, Director James D. Rollins III sold 223,522 shares of the firm's 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 transaction, the director directly owned 612,155 shares of the company's stock, valued at approximately $10,620,889.25. This trade represents a 26.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction dated Thursday, June 25th. The stock was 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 owned 267,859 shares in the company, valued at approximately $4,821,462. The trade was a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have acquired 22,000 shares of company stock valued at $401,219 over the last 90 days. 0.67% of the stock is currently owned by company insiders.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $17.36 on Tuesday. The stock has a market capitalization of $35.07 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 0.81 and a beta of 0.94. The stock has a 50-day moving average of $17.29 and a 200 day moving average of $16.89. 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 Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued 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 company 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 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.6 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Thursday, September 17th. Huntington Bancshares's payout ratio 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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