Huntington Bancshares Incorporated $HBAN Stake Increased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Huntington Bancshares stake by 565% in the third quarter, acquiring 7.58 million additional shares and bringing its total holdings to 8.93 million shares valued at approximately $136.2 million.
• Analysts maintain a generally positive outlook, with Huntington receiving a consensus “Moderate Buy” rating and an average price target of $19.19, despite several recent target reductions.
• Huntington’s shares opened at $15.27, while the company reported quarterly EPS of $0.39 and maintains a quarterly dividend of $0.155 per share, equivalent to a 4.1% annualized yield.

Assenagon Asset Management S.A. grew its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 565.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,926,745 shares of the bank's stock after acquiring an additional 7,584,294 shares during the quarter. Assenagon Asset Management S.A. owned about 0.44% of Huntington Bancshares worth $136,222,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of HBAN. MV Capital Management Inc. purchased a new stake in shares of Huntington Bancshares in the 4th quarter valued at approximately $25,000. Trust Co. of Vermont acquired a new position in Huntington Bancshares in the second quarter valued at approximately $29,000. Johnson Financial Group Inc. acquired a new position in Huntington Bancshares in the second quarter valued at approximately $31,000. Annis Gardner Whiting Capital Advisors LLC grew its position in Huntington Bancshares by 80.7% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,226 shares of the bank's stock worth $35,000 after acquiring an additional 994 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new position in Huntington Bancshares in the second quarter worth approximately $35,000. Hedge funds and other institutional investors own 80.72% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on HBAN shares. Truist Financial cut their price objective on Huntington Bancshares from $20.00 to $19.00 and set a "buy" rating for the company in a research report on Wednesday, September 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $21.00 target price on shares of Huntington Bancshares in a research report on Tuesday, August 18th. Stephens decreased their target price on shares of Huntington Bancshares from $19.00 to $18.00 in a research report on Tuesday, September 22nd. Robert W. Baird increased their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Finally, DA Davidson dropped their price target on shares of Huntington Bancshares from $22.00 to $20.00 and set a "buy" rating for the company in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $19.19.

Huntington Bancshares Stock Down 0.5%

HBAN opened at $15.27 on Friday. Huntington Bancshares Incorporated has a 52 week low of $14.82 and a 52 week high of $19.45. The business has a 50 day moving average price of $16.34 and a two-hundred day moving average price of $16.66. 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 company has a market cap of $30.85 billion, a PE ratio of 11.84, a P/E/G ratio of 0.98 and a beta of 0.95.

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. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate 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 business posted $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. As a group, research analysts anticipate that Huntington Bancshares Incorporated will post 1.54 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 17th were given a $0.1550 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Thursday, September 17th. Huntington Bancshares's dividend payout ratio (DPR) is 48.06%.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Kendall Kowalski sold 27,971 shares of the business'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 transaction, the insider directly owned 70,025 shares of the company's stock, valued at approximately $1,204,430. The trade was a 28.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.67% of the stock is currently owned by company insiders.

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 consumer, small-business and commercial banking services through branch offices, digital banking channels and automated teller machines.

The company offers deposit accounts, residential and commercial mortgages, home equity lending, auto loans, personal lending, credit cards and other consumer financial products. Its business banking operations provide lending, treasury management, payment processing and capital markets services, while its wealth management and insurance businesses serve individuals, families and institutions.

Founded in 1866, Huntington has developed a banking franchise across the Midwest, with a presence in states including Ohio, Michigan, Pennsylvania, Indiana, West Virginia, Kentucky, Illinois and Wisconsin.

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