Jupiter Topco LLC Buys Shares of 204,512 Huntington Bancshares Incorporated $HBAN

Key Points

• Jupiter Topco LLC opened a new Huntington Bancshares position, purchasing 204,512 shares valued at approximately $3.63 million. Institutional investors collectively own 80.72% of HBAN’s outstanding stock.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $20.24, above the stock’s reported $16.42 opening price.
• Huntington Bancshares reported quarterly EPS of $0.39 and revenue of $2.86 billion, while declaring a quarterly dividend of $0.155 per share, equivalent to a 3.8% annualized yield.

Jupiter Topco LLC purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 204,512 shares of the bank's stock, valued at approximately $3,627,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. MV Capital Management Inc. acquired a new stake in Huntington Bancshares in the fourth quarter worth about $25,000. Palisade Asset Management LLC bought a new position in Huntington Bancshares in the 3rd quarter valued at about $26,000. Centennial Bank AR acquired a new position in Huntington Bancshares during the 4th quarter valued at about $28,000. Trust Co. of Vermont acquired a new position in Huntington Bancshares during the 2nd quarter valued at about $29,000. Finally, Johnson Financial Group Inc. bought a new stake in shares of Huntington Bancshares during the 2nd quarter worth about $31,000. Institutional investors own 80.72% of the company's stock.

Insider Buying and Selling

In related news, insider Kendall A. Kowalski sold 27,971 shares of Huntington Bancshares stock in a transaction on Monday, August 3rd. The stock was 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 in the company, valued at $1,204,430. The trade was a 28.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Marcy C. Hingst sold 10,568 shares of the company's stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the sale, the executive vice president directly owned 267,859 shares of the company's stock, valued at approximately $4,821,462. This represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 262,061 shares of company stock worth $4,549,432 in the last three months. 0.67% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HBAN. Bank of America reiterated a "neutral" rating and issued a $18.50 price objective (down from $20.00) on shares of Huntington Bancshares in a report on Monday, July 27th. Evercore reissued an "outperform" rating and set a $21.00 target price on shares of Huntington Bancshares in a report on Monday, July 6th. Wells Fargo & Company assumed coverage on Huntington Bancshares in a research report on Monday, August 17th. They issued an "overweight" rating and a $23.00 target price for the company. Truist Financial lifted their price target on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $21.00 price objective 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 given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.24.

Huntington Bancshares Stock Down 1.6%

HBAN stock opened at $16.42 on Wednesday. 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 PE ratio of 12.73, a P/E/G ratio of 0.79 and a beta of 0.92. The firm has a 50 day simple moving average of $17.56 and a 200 day simple moving average of $16.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.92 and a quick ratio of 0.91.

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

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders 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 3.8%. Huntington Bancshares's dividend payout ratio (DPR) is currently 48.06%.

Huntington Bancshares Company 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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