Great Lakes Advisors LLC Purchases New Position in Huntington Bancshares Incorporated $HBAN

Great Lakes Advisors LLC bought a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 142,630 shares of the bank’s stock, valued at approximately $2,529,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. MV Capital Management Inc. purchased a new stake in shares of Huntington Bancshares in the fourth quarter valued at about $25,000. Palisade Asset Management LLC purchased a new stake in Huntington Bancshares in the 3rd quarter valued at about $26,000. Centennial Bank AR bought a new position in shares of Huntington Bancshares during the 4th quarter worth approximately $28,000. Trust Co. of Vermont bought a new position in shares of Huntington Bancshares during the 2nd quarter worth approximately $29,000. Finally, Johnson Financial Group Inc. boosted its stake in shares of Huntington Bancshares by 48.8% in the 1st quarter. Johnson Financial Group Inc. now owns 2,157 shares of the bank’s stock worth $34,000 after buying an additional 707 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on HBAN shares. Wells Fargo & Company began coverage on Huntington Bancshares in a research report on Monday. They set an “overweight” rating and a $23.00 price target for the company. UBS Group upped their price objective on Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Robert W. Baird raised their target price on Huntington Bancshares from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Evercore reissued an “outperform” rating and issued a $21.00 price target on shares of Huntington Bancshares in a report on Monday, July 6th. Finally, Stephens reduced 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. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $20.24.

Insiders Place Their Bets

In related news, insider Kendall A. Kowalski sold 27,971 shares of Huntington Bancshares stock in a transaction on 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 sale, the insider owned 70,025 shares of the company’s stock, valued at approximately $1,204,430. This trade represents a 28.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares 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 sale, the executive vice president 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have bought 22,000 shares of company stock worth $401,219 and have sold 262,061 shares worth $4,549,432. Corporate insiders own 0.67% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $17.03 on Friday. The firm’s 50 day moving average is $17.60 and its 200 day moving average is $16.88. The stock has a market capitalization of $34.41 billion, a P/E ratio of 13.20, a PEG ratio of 0.80 and a beta of 0.94. Huntington Bancshares Incorporated has a 12 month low of $14.89 and a 12 month 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.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results 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 business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the firm posted $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. On average, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 17th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $0.62 annualized dividend and a yield of 3.6%. Huntington Bancshares’s payout ratio is currently 48.06%.

About Huntington Bancshares

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.