UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stake in Huntington Bancshares Incorporated $HBAN

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 5.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,403,947 shares of the bank's stock after selling 969,204 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.76% of Huntington Bancshares worth $273,112,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Huntington Bancshares in the 2nd quarter worth approximately $3,134,426,000. Wellington Management Group LLP boosted its stake 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 buying an additional 68,478,435 shares during the period. Norges Bank purchased a new position in Huntington Bancshares during the fourth quarter worth about $432,584,000. Bank of America Corp DE purchased a new stake in shares of Huntington Bancshares in the 2nd quarter valued at about $256,772,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Huntington Bancshares during the 2nd quarter valued at about $229,246,000. Hedge funds and other institutional investors own 80.72% of the company's stock.

Analyst Ratings Changes

HBAN has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Wells Fargo & Company initiated coverage on shares of Huntington Bancshares in a report on Monday, August 17th. They issued an "overweight" rating and a $23.00 price target on the stock. Truist Financial raised their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. UBS Group lifted their price objective 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, Royal Bank Of Canada reiterated an "outperform" rating and issued a $21.00 target price on shares of Huntington Bancshares in a research report on Tuesday, August 18th. One 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 issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $20.24.

Insider Buying and Selling at Huntington Bancshares

In other news, Director James D. Rollins III sold 223,522 shares of the firm's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the transaction, the director directly owned 612,155 shares of the company's stock, valued at approximately $10,620,889.25. This trade represents a 26.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Marcy C. Hingst sold 10,568 shares of the business's stock in a transaction dated 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 sale, the executive vice president directly owned 267,859 shares of the company's stock, valued at approximately $4,821,462. This trade 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 sold a total of 262,061 shares of company stock worth $4,549,432 over the last three months. Company insiders own 0.67% of the company's stock.

Huntington Bancshares Trading Down 1.4%

HBAN stock opened at $16.68 on Tuesday. The company has a market capitalization of $33.70 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 0.80 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 Incorporated has a one year low of $14.89 and a one year high of $19.45. The company's 50 day moving average price is $17.58 and its two-hundred day moving average price is $16.79.

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, meeting analysts' consensus estimates of $0.39. Huntington Bancshares had a net margin of 16.64% and a return on equity of 11.19%. The company had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.84 billion. During the same quarter in the prior year, the company earned $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. As a group, 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 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. This represents a $0.62 annualized dividend and a yield of 3.7%. The ex-dividend date is Thursday, September 17th. Huntington Bancshares's dividend payout ratio is presently 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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