Elevation Point Wealth Partners LLC Purchases New Position in Huntington Bancshares Incorporated $HBAN

Elevation Point Wealth Partners LLC acquired a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 67,933 shares of the bank’s stock, valued at approximately $1,208,000.

A number of other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Huntington Bancshares in the 2nd quarter worth approximately $3,134,426,000. Wellington Management Group LLP increased its holdings 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 valued at $1,215,955,000 after purchasing an additional 68,478,435 shares in the last quarter. Norges Bank bought a new position in Huntington Bancshares in the 4th quarter valued at $432,584,000. Vanguard Group Inc. raised 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 purchasing an additional 14,338,222 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Huntington Bancshares in the second quarter worth $229,246,000. Institutional investors own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 10,568 shares of the business’s stock in a transaction on 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the firm’s 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 sale, the director directly owned 612,155 shares in the company, valued at $10,620,889.25. The trade was a 26.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have bought 22,000 shares of company stock valued at $401,219 and have sold 262,061 shares valued at $4,549,432. Insiders own 0.67% of the company’s stock.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $17.03 on Monday. The stock has a 50-day simple moving average of $17.60 and a 200 day simple moving average of $16.87. The company has a market capitalization of $34.41 billion, a PE ratio of 13.20, a P/E/G ratio of 0.81 and a beta of 0.94. 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 Incorporated has a 12 month low of $14.89 and a 12 month high of $19.45.

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, hitting the consensus estimate of $0.39. The company had revenue of $2.86 billion during 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 period in the previous year, the company earned $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Research analysts forecast that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Announces Dividend

The company 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. The ex-dividend date is Thursday, September 17th. This represents a $0.62 annualized dividend and a yield of 3.6%. Huntington Bancshares’s dividend payout ratio (DPR) is 48.06%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HBAN. 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 note on Friday, July 24th. Stephens decreased their price objective on shares of Huntington Bancshares from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Friday, July 24th. Evercore restated an “outperform” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research report on Monday, July 6th. Morgan Stanley reaffirmed 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. Finally, UBS Group increased their price target on shares of Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. One equities 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.24.

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.