Rakuten Investment Management Inc. Makes New $5.92 Million Investment in Huntington Bancshares Incorporated $HBAN

Key Points

• Rakuten Investment Management acquired 332,134 Huntington Bancshares shares in the second quarter, valued at approximately $5.92 million. Institutional investors collectively own 80.72% of HBAN’s outstanding stock.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $20.24; Robert W. Baird recently raised its target to $21.00.
• Huntington Bancshares matched quarterly earnings expectations at $0.39 per share and reported $2.86 billion in revenue. The bank also declared a quarterly dividend of $0.155 per share, representing a 3.7% annualized yield.

Rakuten Investment Management Inc. bought a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund bought 332,134 shares of the bank's stock, valued at approximately $5,919,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Bancorp Inc ME purchased a new position in Huntington Bancshares in the second quarter valued at about $389,000. MV Capital Management Inc. purchased a new stake in shares of Huntington Bancshares during the 4th quarter worth approximately $25,000. Palisade Asset Management LLC bought a new stake in shares of Huntington Bancshares in the 3rd quarter worth approximately $26,000. Centennial Bank AR purchased a new position in Huntington Bancshares in the fourth quarter valued at approximately $28,000. Finally, Trust Co. of Vermont bought a new position in Huntington Bancshares during the second quarter valued at $29,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HBAN. Robert W. Baird increased their price target on Huntington Bancshares from $20.00 to $21.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Evercore restated an "outperform" rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research note on Monday, July 6th. Wall Street Zen raised shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. JPMorgan Chase & Co. lifted their target price on shares of Huntington Bancshares from $18.50 to $19.50 and gave the stock an "overweight" rating in a research note on Monday, July 6th. Finally, Weiss Ratings raised shares of Huntington Bancshares from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, July 6th. One investment 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.24.

Huntington Bancshares Stock Up 0.4%

Shares of HBAN opened at $16.92 on Friday. The firm has a market cap of $34.19 billion, a P/E ratio of 13.12, a P/E/G ratio of 0.80 and a beta of 0.94. The stock has a 50 day simple moving average of $17.59 and a two-hundred day simple moving average of $16.82. 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 posted 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 during the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the previous year, the firm posted $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 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business 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 is Thursday, September 17th. This represents a $0.62 annualized dividend and a yield of 3.7%. Huntington Bancshares's dividend payout ratio is currently 48.06%.

Insider Buying and Selling

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares 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 directly owned 267,859 shares of the company's stock, valued at $4,821,462. The trade was a 3.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kendall A. Kowalski sold 27,971 shares of the 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 completion of the transaction, the insider owned 70,025 shares of the company's stock, valued at approximately $1,204,430. This trade represents a 28.54% decrease in their position. The SEC filing for this sale provides additional information. In 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. 0.67% of the stock is owned by corporate insiders.

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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