Northwestern Mutual Wealth Management Co. Purchases New Position in Huntington Bancshares Incorporated $HBAN

Key Points

• Northwestern Mutual Wealth Management acquired 153,593 Huntington Bancshares shares worth approximately $2.7 million during the second quarter. Institutional investors now own 80.72% of HBAN’s outstanding shares.
• Huntington Bancshares reported quarterly earnings of $0.39 per share, in line with analyst expectations, while revenue of $2.86 billion exceeded estimates. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $20.24.
• The bank declared a quarterly dividend of $0.155 per share, equivalent to an annualized dividend of $0.62 and a 3.6% yield. Recent insider activity was predominantly selling, with insiders selling about $4.55 million in shares over the last quarter.

Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 153,593 shares of the bank's stock, valued at approximately $2,723,000.

Other institutional investors have also modified their holdings of the company. Academy Capital Management purchased a new position in Huntington Bancshares in the 2nd quarter worth about $919,000. CFO4Life Group LLC purchased a new stake in Huntington Bancshares in the 2nd quarter valued at about $313,000. Evolve Private Wealth LLC bought a new position in Huntington Bancshares in the 2nd quarter worth about $181,000. Farringdon Capital Ltd. purchased a new position in shares of Huntington Bancshares during the second quarter worth approximately $271,000. Finally, Westpac Banking Corp purchased a new position in shares of Huntington Bancshares during the second quarter worth approximately $150,000. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Stock Up 0.1%

Huntington Bancshares stock opened at $17.04 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.92 and a quick ratio of 0.91. The stock has a market capitalization of $34.43 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 0.81 and a beta of 0.94. Huntington Bancshares Incorporated has a 1-year low of $14.89 and a 1-year high of $19.45. The business has a fifty day moving average price of $17.59 and a 200-day moving average price of $16.86.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $0.39 earnings per share for the quarter, meeting analysts' consensus estimates of $0.39. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates 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 in the previous year, the company earned $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 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 17th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.6%. Huntington Bancshares's payout ratio is presently 48.06%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HBAN shares. Stephens lowered their price target on Huntington Bancshares from $20.00 to $19.00 and set an "equal weight" rating for the company in a report on Friday, July 24th. UBS Group raised their price objective on Huntington Bancshares from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Jefferies Financial Group set a $18.00 target price on Huntington Bancshares in a research report on Thursday, July 23rd. Weiss Ratings upgraded Huntington Bancshares from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, July 6th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $21.00 price target on shares of Huntington Bancshares in a research report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Huntington Bancshares currently has a consensus rating of "Moderate Buy" and an average target price of $20.24.

Insider Buying and Selling at Huntington Bancshares

In related news, insider Kendall A. Kowalski sold 27,971 shares of the company's stock in a transaction dated 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 transaction, the insider owned 70,025 shares in the company, valued at $1,204,430. This represents a 28.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James D. Rollins III sold 223,522 shares of the stock in a transaction that occurred on 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 $10,620,889.25. The trade was a 26.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders bought 22,000 shares of company stock valued at $401,219 and sold 262,061 shares valued at $4,549,432. 0.67% of the stock is owned by corporate insiders.

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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