OMERS ADMINISTRATION Corp Purchases Shares of 935,095 Huntington Bancshares Incorporated $HBAN

Key Points

• OMERS Administration Corp. initiated a position in Huntington Bancshares, purchasing 935,095 shares valued at approximately $16.6 million. Institutional investors and hedge funds collectively own 80.72% of HBAN.
• Analysts maintain a favorable outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $20.24, compared with its reported opening price of $17.03.
• Huntington reported quarterly EPS of $0.39 and revenue of $2.86 billion, while announcing a quarterly dividend of $0.155 per share, equivalent to a 3.6% annualized yield.

OMERS ADMINISTRATION Corp purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 935,095 shares of the bank's stock, valued at approximately $16,579,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Values First Advisors Inc. increased its position in Huntington Bancshares by 3.0% in the 1st quarter. Values First Advisors Inc. now owns 20,564 shares of the bank's stock valued at $322,000 after acquiring an additional 604 shares in the last quarter. MCF Advisors LLC lifted its position in shares of Huntington Bancshares by 12.6% during the fourth quarter. MCF Advisors LLC now owns 5,438 shares of the bank's stock worth $95,000 after purchasing an additional 609 shares in the last quarter. Vestor Capital LLC lifted its position in shares of Huntington Bancshares by 13.0% during the first quarter. Vestor Capital LLC now owns 5,636 shares of the bank's stock worth $88,000 after purchasing an additional 648 shares in the last quarter. Balboa Wealth Partners grew its stake in shares of Huntington Bancshares by 2.5% during the first quarter. Balboa Wealth Partners now owns 27,042 shares of the bank's stock valued at $423,000 after purchasing an additional 662 shares during the last quarter. Finally, Rehmann Capital Advisory Group lifted its holdings in Huntington Bancshares by 4.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 16,881 shares of the bank's stock worth $292,000 after buying an additional 694 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 10,568 shares of the company's stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $18.00, for a total value of $190,224.00. Following the transaction, the executive vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of Huntington Bancshares stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $17.35, for a total value of $3,878,106.70. Following the sale, the director directly owned 612,155 shares of the company's stock, valued at approximately $10,620,889.25. The trade was a 26.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have purchased 22,000 shares of company stock worth $401,219 and have sold 262,061 shares worth $4,549,432. Corporate insiders own 0.67% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on HBAN shares. Robert W. Baird raised their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. Wells Fargo & Company started coverage on shares of Huntington Bancshares in a research note on Monday, August 17th. They set an "overweight" rating and a $23.00 price target for the company. Bank of America restated 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. Truist Financial raised their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Finally, Jefferies Financial Group set a $18.00 target price on shares of Huntington Bancshares in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.24.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $17.03 on Monday. The firm has a market cap of $34.41 billion, a P/E ratio of 13.20, a PEG ratio of 0.81 and a beta of 0.94. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.91 and a current ratio of 0.92. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45. The firm's 50 day moving average price is $17.60 and its two-hundred day moving average price is $16.87.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $0.39 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.39. The business had revenue of $2.86 billion during 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 company earned $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. On average, analysts forecast that Huntington Bancshares Incorporated will post 1.61 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

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