Saudi Central Bank Has $2.53 Million Stock Holdings in Huntington Bancshares Incorporated $HBAN

Key Points

• Saudi Central Bank increased its Huntington Bancshares stake by 90.6% in the second quarter, adding 67,777 shares for a total of 142,599 shares valued at approximately $2.53 million. Institutional investors collectively own 80.72% of HBAN.
• Huntington Bancshares reported quarterly EPS of $0.39, matching analyst estimates, while revenue of $2.86 billion exceeded expectations. The company declared a quarterly dividend of $0.155 per share, representing a 3.6% annualized yield.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $20.24, compared with a recent share price of $17.03.

Saudi Central Bank raised its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 90.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,599 shares of the bank's stock after buying an additional 67,777 shares during the period. Saudi Central Bank's holdings in Huntington Bancshares were worth $2,528,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MV Capital Management Inc. bought a new position in shares of Huntington Bancshares in the 4th quarter valued at $25,000. Palisade Asset Management LLC bought a new stake in Huntington Bancshares during the 3rd quarter worth $26,000. Centennial Bank AR acquired a new position in Huntington Bancshares in the 4th quarter worth about $28,000. Trust Co. of Vermont bought a new position in Huntington Bancshares in the second quarter valued at about $29,000. Finally, Johnson Financial Group Inc. bought a new position in Huntington Bancshares in the second quarter valued at about $31,000. Institutional investors own 80.72% of the company's stock.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $17.03 on Tuesday. The business's 50 day simple moving average is $17.50 and its 200 day simple moving average is $16.77. Huntington Bancshares Incorporated has a one year low of $14.89 and a one year high of $19.45. The stock has a market capitalization of $34.41 billion, a PE ratio of 13.20, a PEG ratio of 0.93 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 (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $0.39 earnings per share (EPS) 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 firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the business earned $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. As a group, research analysts forecast that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 17th will be given 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 yield of 3.6%. Huntington Bancshares's dividend payout ratio is 48.06%.

Insiders Place Their Bets

In other Huntington Bancshares news, 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 completion of the sale, the director directly owned 612,155 shares in the company, valued at approximately $10,620,889.25. The trade was a 26.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Marcy C. Hingst sold 10,568 shares of the business's stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the transaction, the executive vice president directly owned 267,859 shares in the company, valued at approximately $4,821,462. This trade represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 262,061 shares of company stock worth $4,549,432. Company insiders own 0.67% of the company's stock.

Wall Street Analysts Forecast Growth

HBAN has been the topic of several research reports. Robert W. Baird boosted their price target on Huntington Bancshares from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Morgan Stanley reiterated an "equal weight" rating and set a $19.00 target price (down from $21.00) on shares of Huntington Bancshares in a research report on Friday, July 24th. Jefferies Financial Group set a $18.00 target price on shares of Huntington Bancshares in a report on Thursday, July 23rd. Stephens decreased their price target on shares of Huntington Bancshares from $20.00 to $19.00 and set an "equal weight" rating for the company in a research report on Friday, July 24th. Finally, Truist Financial raised their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Huntington Bancshares presently has an average rating of "Moderate Buy" and an average price target of $20.24.

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.

Want to see what other hedge funds are holding HBAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.