The Manufacturers Life Insurance Company Makes New $94.63 Million Investment in Huntington Bancshares Incorporated $HBAN

Key Points

• The Manufacturers Life Insurance Company bought 5.34 million Huntington Bancshares shares worth approximately $94.6 million, acquiring a 0.26% stake. Institutional investors collectively own 80.72% of HBAN.
• Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $20.24. Recent targets range from $18.50 to $22.00.
• Huntington reported quarterly earnings of $0.39 per share, matching estimates, and revenue of $2.86 billion. The company also declared a quarterly dividend of $0.155 per share, implying a 3.7% annualized yield.

The Manufacturers Life Insurance Company bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,337,030 shares of the bank's stock, valued at approximately $94,626,000. The Manufacturers Life Insurance Company owned about 0.26% of Huntington Bancshares at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Huntington Bancshares by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank's stock valued at $3,319,385,000 after purchasing an additional 14,338,222 shares during the period. BlackRock Inc. bought a new stake in shares of Huntington Bancshares in the 2nd quarter valued at about $3,134,426,000. State Street Corp raised its position in shares of Huntington Bancshares by 4.7% in the 4th quarter. State Street Corp now owns 77,228,656 shares of the bank's stock valued at $1,351,806,000 after acquiring an additional 3,438,501 shares during the period. Wellington Management Group LLP grew its holdings in 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 valued at $1,215,955,000 after purchasing an additional 68,478,435 shares during the period. Finally, Boston Partners increased its stake in Huntington Bancshares by 3.9% in the third quarter. Boston Partners now owns 63,302,953 shares of the bank's stock valued at $1,091,615,000 after purchasing an additional 2,363,905 shares in the last quarter. 80.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on HBAN shares. Bank of America restated a "neutral" rating and issued a $18.50 price objective (down from $20.00) on shares of Huntington Bancshares in a research report on Monday, July 27th. JPMorgan Chase & Co. increased their price target on Huntington Bancshares from $18.50 to $19.50 and gave the stock an "overweight" rating in a report on Monday, July 6th. Morgan Stanley reiterated an "equal weight" rating and issued a $19.00 price objective (down from $21.00) on shares of Huntington Bancshares in a research report on Friday, July 24th. UBS Group raised their target price on shares of Huntington Bancshares from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. 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 research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Huntington Bancshares presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.24.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 27,971 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $17.20, for a total transaction 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. The trade was a 28.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James D. Rollins III sold 223,522 shares of the 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 directly owned 612,155 shares of the company's stock, valued at approximately $10,620,889.25. The trade was a 26.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders acquired 22,000 shares of company stock valued at $401,219 and sold 262,061 shares valued at $4,549,432. 0.67% of the stock is owned by insiders.

Huntington Bancshares Trading Down 0.5%

Shares of Huntington Bancshares stock opened at $16.95 on Wednesday. The firm has a 50-day moving average of $17.58 and a 200-day moving average of $16.85. Huntington Bancshares Incorporated has a 52-week low of $14.89 and a 52-week high of $19.45. The stock has a market cap of $34.25 billion, a PE ratio of 13.14, a PEG ratio of 0.81 and a beta of 0.94. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.91 and a current ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its 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 return on equity of 11.19% and a net margin of 16.64%.The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period in the prior year, the firm posted $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. As a group, sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 17th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Thursday, September 17th. Huntington Bancshares's dividend payout ratio (DPR) is currently 48.06%.

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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