Great Lakes Advisors LLC Invests $4.59 Million 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, Holdings Channel reports. The fund bought 112,924 shares of the bank’s stock, valued at approximately $4,590,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HBAN. CIBC Asset Management Inc boosted its position in shares of Huntington Bancshares by 24.5% during the fourth quarter. CIBC Asset Management Inc now owns 533,005 shares of the bank’s stock valued at $9,248,000 after purchasing an additional 104,965 shares in the last quarter. Creative Financial Designs Inc. ADV raised its holdings in Huntington Bancshares by 688.9% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 86,478 shares of the bank’s stock worth $1,500,000 after purchasing an additional 75,516 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Huntington Bancshares by 25.4% in the fourth quarter. Hsbc Holdings PLC now owns 8,161,085 shares of the bank’s stock worth $141,625,000 after purchasing an additional 1,652,464 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Huntington Bancshares by 991.7% in the 1st quarter. International Assets Investment Management LLC now owns 67,588 shares of the bank’s stock worth $1,073,000 after acquiring an additional 61,397 shares in the last quarter. Finally, SouthState Bank Corp lifted its position in Huntington Bancshares by 19,902.9% during the 1st quarter. SouthState Bank Corp now owns 131,819 shares of the bank’s stock valued at $2,063,000 after acquiring an additional 131,160 shares during the period. Institutional investors own 80.72% of the company’s stock.

Insider Buying and Selling

In related news, Director James D. Rollins III sold 223,522 shares of the company’s stock in a transaction that occurred 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 directly owned 612,155 shares of the company’s stock, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Marcy C. Hingst sold 10,568 shares of the 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 sale, the executive vice president owned 267,859 shares in the company, valued at approximately $4,821,462. This represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, 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 owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on HBAN. JPMorgan Chase & Co. boosted their price objective on shares of Huntington Bancshares from $18.50 to $19.50 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Truist Financial lifted their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Royal Bank Of Canada reissued an “outperform” rating and issued a $21.00 price target on shares of Huntington Bancshares in a research report on Tuesday. Weiss Ratings upgraded Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, July 6th. Finally, Wells Fargo & Company initiated coverage on Huntington Bancshares in a research report on Monday. They set an “overweight” rating and a $23.00 price objective for the company. One 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $20.24.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $17.17 on Thursday. The company has a market capitalization of $34.69 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 0.84 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 is $17.61 and its 200 day moving average is $16.88.

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, hitting the consensus estimate of $0.39. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Huntington Bancshares had a net margin of 16.64% and a return on equity of 11.19%. During the same period in the previous year, the company earned $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Sell-side 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. Investors of record on Thursday, September 17th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Thursday, September 17th. Huntington Bancshares’s payout ratio is presently 48.06%.

Huntington Bancshares Company 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.