Korea Investment CORP Makes New $106.45 Million Investment in Huntington Bancshares Incorporated $HBAN

Key Points

• Korea Investment CORP acquired 6.0 million Huntington Bancshares shares worth approximately $106.45 million, representing about 0.30% of the company. Institutional investors collectively own 80.72% of HBAN.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $20.24; individual targets range from $19.00 to $23.00.
• Huntington reported quarterly EPS of $0.39, matching estimates, and revenue of $2.86 billion. The bank also declared a quarterly dividend of $0.155 per share, implying a 3.6% annual yield.

Korea Investment CORP bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 6,004,068 shares of the bank's stock, valued at approximately $106,452,000. Korea Investment CORP owned approximately 0.30% of Huntington Bancshares as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. EP Wealth Advisors LLC acquired a new position in shares of Huntington Bancshares during the 2nd quarter worth $859,000. Ieq Capital LLC acquired a new stake in Huntington Bancshares in the second quarter valued at about $471,000. Burnham & Co LLC acquired a new stake in Huntington Bancshares in the second quarter valued at about $94,000. Callan Family Office LLC bought a new position in Huntington Bancshares in the second quarter valued at about $1,429,000. Finally, Fund Advisors of America Inc FL bought a new position in Huntington Bancshares in the second quarter valued at about $227,000. Institutional investors own 80.72% of the company's stock.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 10,568 shares of the firm'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 completion of the sale, the executive vice president directly owned 267,859 shares in the company, valued at approximately $4,821,462. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kendall A. Kowalski sold 27,971 shares of Huntington Bancshares 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 of the company's stock, valued at approximately $1,204,430. This trade represents a 28.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders purchased 22,000 shares of company stock valued at $401,219 and sold 262,061 shares valued at $4,549,432. Insiders own 0.67% of the company's stock.

Analysts Set New Price Targets

HBAN has been the subject of a number of research reports. Morgan Stanley reissued an "equal weight" rating and issued a $19.00 target price (down from $21.00) on shares of Huntington Bancshares in a report on Friday, July 24th. JPMorgan Chase & Co. lifted their price target on shares of Huntington Bancshares from $18.50 to $19.50 and gave the company an "overweight" rating in a report on Monday, July 6th. Evercore reissued an "outperform" rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research note on Monday, July 6th. Stephens cut their target price on shares of Huntington Bancshares from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Friday, July 24th. Finally, Wells Fargo & Company initiated coverage on shares of Huntington Bancshares in a research note on Monday. They set an "overweight" rating and a $23.00 target price on the stock. 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.24.

Huntington Bancshares Price Performance

Shares of HBAN opened at $17.03 on Friday. The business has a 50-day moving average of $17.60 and a 200-day moving average of $16.88. Huntington Bancshares Incorporated has a 1 year low of $14.89 and a 1 year high of $19.45. The company has a market capitalization of $34.41 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 0.80 and a beta of 0.94. 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 released 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. 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 analyst estimates of $2.84 billion. During the same quarter last year, the business earned $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. As a group, equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 17th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Thursday, September 17th. 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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