Rhino Investment Partners Inc Invests $13.80 Million in Huntington Bancshares Incorporated $HBAN

Rhino Investment Partners Inc bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 881,678 shares of the bank's stock, valued at approximately $13,798,000. Huntington Bancshares makes up approximately 3.8% of Rhino Investment Partners Inc's holdings, making the stock its 8th largest holding.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in shares of Huntington Bancshares by 4,265.5% during the fourth quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank's stock worth $1,215,955,000 after purchasing an additional 68,478,435 shares during the period. Norges Bank bought a new stake in Huntington Bancshares during the 4th quarter valued at $432,584,000. Vanguard Group Inc. lifted its stake in shares of Huntington Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank's stock valued at $3,319,385,000 after buying an additional 14,338,222 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Huntington Bancshares by 27.2% during the first quarter. Dimensional Fund Advisors LP now owns 23,480,601 shares of the bank's stock valued at $367,388,000 after buying an additional 5,026,894 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Huntington Bancshares by 2,458.7% during the fourth quarter. Marshall Wace LLP now owns 4,516,068 shares of the bank's stock worth $78,354,000 after acquiring an additional 4,339,571 shares in the last quarter. Institutional investors own 80.72% of the company's stock.

Huntington Bancshares Stock Performance

HBAN stock opened at $17.30 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.63. The firm has a market cap of $35.07 billion, a PE ratio of 13.41, a P/E/G ratio of 0.79 and a beta of 0.93. The business has a 50 day moving average of $17.19 and a 200-day moving average of $16.91. Huntington Bancshares Incorporated has a 12-month low of $14.89 and a 12-month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $0.39 EPS for the quarter, hitting analysts' consensus estimates of $0.39. Huntington Bancshares had a return on equity of 11.19% and a net margin of 16.64%.The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period last year, the company posted $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. As a group, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.6 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

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 paid 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 payout ratio is presently 48.06%.

Insiders Place Their Bets

In related news, Director James D. Rollins III sold 223,522 shares of the firm's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the sale, the director owned 612,155 shares in the company, valued at approximately $10,620,889.25. This trade represents a 26.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $18.00, for a total transaction 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 represents a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have bought a total of 22,000 shares of company stock worth $401,219 over the last quarter. Company insiders own 0.67% of the company's stock.

Wall Street Analyst Weigh In

HBAN has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Huntington Bancshares from $18.50 to $19.50 and gave the company an "overweight" rating in a research note on Monday, July 6th. Morgan Stanley reiterated an "equal weight" rating and set a $19.00 price target (down from $21.00) on shares of Huntington Bancshares in a report on Friday, July 24th. Wall Street Zen raised Huntington Bancshares from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Robert W. Baird raised their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. Finally, Jefferies Financial Group set a $18.00 target price on shares of Huntington Bancshares in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $20.11.

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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