QRG Capital Management Inc. Acquires 274,067 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• QRG Capital Management increased its Huntington Bancshares stake by 191.8%, purchasing 274,067 additional shares to own 416,985 shares valued at approximately $7.4 million. Institutional investors and hedge funds collectively own 80.72% of HBAN.
• Analysts maintain a generally positive outlook, with Huntington Bancshares receiving a consensus “Moderate Buy” rating and an average price target of $19.84, despite mixed individual target revisions.
• Huntington reported quarterly earnings of $0.39 per share, matching estimates, and revenue of $2.86 billion. The bank also declared a quarterly dividend of $0.155 per share, representing a 4.0% annualized yield.

QRG Capital Management Inc. boosted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 191.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 416,985 shares of the bank's stock after purchasing an additional 274,067 shares during the quarter. QRG Capital Management Inc.'s holdings in Huntington Bancshares were worth $7,393,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in HBAN. Tortoise Investment Management LLC bought a new stake in Huntington Bancshares in the second quarter valued at $215,000. Sequoia Financial Advisors LLC increased its position in Huntington Bancshares by 12.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 638,779 shares of the bank's stock valued at $11,326,000 after buying an additional 72,920 shares in the last quarter. Tidal Investments LLC raised its stake in Huntington Bancshares by 10.8% during the 2nd quarter. Tidal Investments LLC now owns 106,991 shares of the bank's stock worth $1,897,000 after buying an additional 10,428 shares during the period. National Pension Service boosted its holdings in Huntington Bancshares by 22.2% in the second quarter. National Pension Service now owns 3,258,691 shares of the bank's stock worth $57,777,000 after acquiring an additional 590,956 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in Huntington Bancshares in the second quarter worth approximately $3,624,000. 80.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Huntington Bancshares

In related news, insider Kendall 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 transaction of $481,101.20. Following the sale, the insider directly owned 70,025 shares in the company, valued at approximately $1,204,430. This trade represents a 28.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.67% of the company's stock.

Wall Street Analysts Forecast Growth

HBAN has been the subject of several recent research reports. Morgan Stanley restated an "equal weight" rating and set a $19.00 price objective (down from $21.00) on shares of Huntington Bancshares in a report on Friday, July 24th. JPMorgan Chase & Co. increased their target price on Huntington Bancshares from $18.50 to $19.50 and gave the stock an "overweight" rating in a report on Monday, July 6th. Jefferies Financial Group decreased their price target on shares of Huntington Bancshares from $18.00 to $17.00 and set a "hold" rating for the company in a research note on Thursday. Robert W. Baird raised their price objective 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. Finally, UBS Group lifted their price objective on shares of Huntington Bancshares from $21.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $19.84.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $15.31 on Friday. The company has a fifty day moving average price of $17.05 and a 200-day moving average price of $16.68. The firm has a market cap of $30.93 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 0.90 and a beta of 0.92. 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 Incorporated has a 1 year low of $14.89 and a 1 year high of $19.45.

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 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 business had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.84 billion. 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. As a group, equities research analysts predict that Huntington Bancshares Incorporated will post 1.53 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. Stockholders of record on Thursday, September 17th will be issued a $0.1550 dividend. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.0%. Huntington Bancshares's dividend payout ratio is currently 48.06%.

About Huntington Bancshares

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company offers consumer and commercial deposit accounts, lending products, mortgage banking, wealth management, investment services, insurance, payment solutions and treasury management. Its lending activities include residential mortgages, auto loans, consumer credit, small-business financing and commercial loans.

Founded in 1866, Huntington serves customers through branches, digital banking channels and business offices across the Midwest and other selected markets.

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