97,861 Shares in Huntington Bancshares Incorporated $HBAN Purchased by Portfolio Design Labs LLC

Portfolio Design Labs LLC purchased a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 97,861 shares of the bank’s stock, valued at approximately $1,735,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HBAN. BlackRock Inc. bought a new position in shares of Huntington Bancshares during the second quarter valued at approximately $3,134,426,000. Wellington Management Group LLP lifted its stake in shares of Huntington Bancshares by 4,265.5% during the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock worth $1,215,955,000 after acquiring an additional 68,478,435 shares during the last quarter. Norges Bank bought a new stake in shares of Huntington Bancshares during the 4th quarter worth approximately $432,584,000. Vanguard Group Inc. boosted its holdings in Huntington Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock valued at $3,319,385,000 after acquiring an additional 14,338,222 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Huntington Bancshares in the 2nd quarter valued at $229,246,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Kendall A. Kowalski sold 27,971 shares of the 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 completion of the sale, the insider owned 70,025 shares of the company’s stock, valued at $1,204,430. This represents a 28.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Marcy C. Hingst sold 10,568 shares of the firm’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 transaction of $190,224.00. Following the completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders bought 22,000 shares of company stock worth $401,219 and sold 262,061 shares worth $4,549,432. 0.67% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HBAN. Morgan Stanley reiterated an “equal weight” rating and issued a $19.00 target price (down from $21.00) on shares of Huntington Bancshares in a research note on Friday, July 24th. Jefferies Financial Group set a $18.00 price target on shares of Huntington Bancshares in a report on Thursday, July 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $21.00 price target on shares of Huntington Bancshares in a research note on Tuesday. Bank of America reiterated a “neutral” rating and set a $18.50 price objective (down from $20.00) on shares of Huntington Bancshares in a report on Monday, July 27th. Finally, 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 note 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.24.

Huntington Bancshares Trading Down 0.9%

Shares of NASDAQ HBAN opened at $17.01 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.92 and a quick ratio of 0.91. The stock has a market capitalization of $34.37 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 0.81 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 business has a fifty day moving average price of $17.61 and a 200 day moving average price of $16.88.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, July 23rd. The bank reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.84 billion. Huntington Bancshares had a return on equity of 11.19% and a net margin of 16.64%.During the same quarter in the previous year, the firm earned $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Equities research analysts expect that Huntington Bancshares Incorporated will post 1.61 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 17th will be given a $0.155 dividend. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.6%. Huntington Bancshares’s 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.