Legal & General Group Plc Buys New Stake in Huntington Bancshares Incorporated $HBAN

Legal & General Group Plc bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,018,977 shares of the bank’s stock, valued at approximately $213,096,000. Legal & General Group Plc owned 0.59% of Huntington Bancshares as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in HBAN. BlackRock Inc. purchased a new stake in shares of Huntington Bancshares in the 2nd quarter valued at $3,134,426,000. Wellington Management Group LLP lifted its stake in 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 in the last quarter. Norges Bank purchased a new position in Huntington Bancshares during the 4th quarter valued at about $432,584,000. Vanguard Group Inc. grew its position in 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 acquiring an additional 14,338,222 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Huntington Bancshares during the second quarter worth about $229,246,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on HBAN. Bank of America reiterated a “neutral” rating and issued a $18.50 price objective (down from $20.00) on shares of Huntington Bancshares in a report on Monday, July 27th. Robert W. Baird increased their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Wall Street Zen raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. UBS Group boosted their price target on Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. increased their price objective on Huntington Bancshares from $18.50 to $19.50 and gave the stock an “overweight” rating in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.24.

Insider Buying and Selling at Huntington Bancshares

In related news, Director James D. Rollins III sold 223,522 shares of Huntington Bancshares stock in a transaction on Friday, June 12th. The stock was sold at an average price of $17.35, for a total value of $3,878,106.70. Following the transaction, the director owned 612,155 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marcy C. Hingst sold 10,568 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was 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 $4,821,462. The trade was 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 90 days, insiders acquired 22,000 shares of company stock worth $401,219 and sold 262,061 shares worth $4,549,432. 0.67% of the stock is owned by company insiders.

Huntington Bancshares Stock Up 0.5%

Huntington Bancshares stock opened at $17.04 on Thursday. Huntington Bancshares Incorporated has a fifty-two week low of $14.89 and a fifty-two week high of $19.45. The firm has a market capitalization of $34.43 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 0.80 and a beta of 0.94. The stock’s fifty day moving average is $17.59 and its two-hundred day moving average is $16.83. 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) last issued 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 previous year, the firm posted $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Analysts predict that Huntington Bancshares Incorporated will post 1.61 EPS 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 paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Thursday, September 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 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.