Stoneridge Investment Partners LLC Purchases Shares of 61,054 Huntington Bancshares Incorporated $HBAN

Key Points

• Stoneridge Investment Partners acquired 61,054 Huntington Bancshares shares worth approximately $1.04 million, while institutional investors collectively own 80.72% of the bank.
• Huntington reported quarterly EPS of $0.39, in line with estimates, and revenue of $2.86 billion, slightly above expectations. The company’s shares recently traded at $17.91, with analysts assigning a “Moderate Buy” consensus rating and a $20.11 target price.
• Huntington declared a quarterly dividend of $0.155 per share, equivalent to $0.62 annually and a 3.5% yield. Recent insider activity was net negative, with insiders selling substantially more shares than they purchased over the past 90 days.

Stoneridge Investment Partners LLC acquired a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 61,054 shares of the bank's stock, valued at approximately $1,040,000.

Other hedge funds also recently made changes to their positions in the company. Values First Advisors Inc. raised its holdings in shares of Huntington Bancshares by 3.0% in the 1st quarter. Values First Advisors Inc. now owns 20,564 shares of the bank's stock worth $322,000 after purchasing an additional 604 shares in the last quarter. MCF Advisors LLC boosted its holdings in 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 buying an additional 609 shares in the last quarter. Vestor Capital LLC boosted its holdings in 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 buying an additional 648 shares in the last quarter. Balboa Wealth Partners increased its holdings in shares of Huntington Bancshares by 2.5% in the first quarter. Balboa Wealth Partners now owns 27,042 shares of the bank's stock valued at $423,000 after buying an additional 662 shares in the last quarter. Finally, Rehmann Capital Advisory Group lifted its position in shares of Huntington Bancshares by 4.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 16,881 shares of the bank's stock valued at $292,000 after acquiring an additional 694 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company's stock.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $17.91 on Friday. The company has a market capitalization of $36.19 billion, a price-to-earnings ratio of 13.88, a P/E/G ratio of 0.85 and a beta of 0.94. Huntington Bancshares Incorporated has a 1-year low of $14.89 and a 1-year high of $19.45. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.63. The stock's fifty day simple moving average is $17.56 and its 200-day simple moving average is $16.88.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings data 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 return on equity of 11.19% and a net margin of 16.64%.The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the prior year, the business earned $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. On average, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.61 earnings per share 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 $0.155 dividend. The ex-dividend date is Thursday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. Huntington Bancshares's dividend payout ratio is currently 48.06%.

Insider Activity

In related news, insider Kendall A. Kowalski sold 27,971 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $17.20, for a total transaction of $481,101.20. Following the transaction, the insider directly owned 70,025 shares of the company's stock, valued at approximately $1,204,430. The trade was a 28.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James D. Rollins III sold 223,522 shares of the company's stock in a transaction that occurred on 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 transaction, the director owned 612,155 shares in the company, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have acquired 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.

Analyst Upgrades and Downgrades

HBAN has been the subject of several analyst reports. Piper Sandler raised Huntington Bancshares from a "strong sell" rating to a "hold" rating and set a $18.00 target price for the company in a report on Thursday, April 23rd. Truist Financial lifted their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Robert W. Baird raised their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Stephens dropped their target price on shares of Huntington Bancshares from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Friday, July 24th. Finally, Wall Street Zen upgraded shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. One 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. Based on data from MarketBeat, Huntington Bancshares presently has an average rating of "Moderate Buy" and a consensus target price of $20.11.

Huntington Bancshares Company 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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