The Manufacturers Life Insurance Company Buys New Position in Huntington Bancshares Incorporated $HBAN

The Manufacturers Life Insurance Company acquired a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the second quarter, HoldingsChannel.com reports. The fund acquired 5,337,030 shares of the bank’s stock, valued at approximately $94,626,000.

Several other hedge funds have also recently made changes to their positions in HBAN. MV Capital Management Inc. bought a new position in shares of Huntington Bancshares in the 4th quarter worth $25,000. Palisade Asset Management LLC bought a new stake in shares of Huntington Bancshares during the third quarter worth about $26,000. Centennial Bank AR bought a new position in Huntington Bancshares in the 4th quarter valued at about $28,000. Trust Co. of Vermont acquired a new position in Huntington Bancshares during the 2nd quarter valued at about $29,000. Finally, Johnson Financial Group Inc. bought a new stake in Huntington Bancshares during the 2nd quarter worth approximately $31,000. 80.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HBAN. Robert W. Baird increased their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Friday, July 24th. UBS Group increased their price objective 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. Evercore reissued an “outperform” rating and set a $21.00 target price on shares of Huntington Bancshares in a research report on Monday, July 6th. JPMorgan Chase & Co. boosted their target price on Huntington Bancshares from $18.50 to $19.50 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Finally, Wells Fargo & Company assumed coverage on Huntington Bancshares in a report on Monday, August 17th. They set an “overweight” rating and a $23.00 price target on the stock. 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $20.24.

Huntington Bancshares Stock Down 0.5%

HBAN opened at $16.95 on Wednesday. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45. The company’s 50-day moving average price is $17.58 and its two-hundred day moving average price is $16.85. The stock has a market cap of $34.25 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 0.81 and a beta of 0.94. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.63.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly 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 net margin of 16.64% and a return on equity of 11.19%. During the same quarter last year, the business posted $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. As a group, equities analysts expect that Huntington Bancshares Incorporated will post 1.61 earnings per share 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 paid a $0.155 dividend. The ex-dividend date is Thursday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.7%. Huntington Bancshares’s payout ratio is presently 48.06%.

Insider Transactions at Huntington Bancshares

In related news, insider Kendall A. Kowalski sold 27,971 shares of Huntington Bancshares stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $17.20, for a total value 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James D. Rollins III sold 223,522 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the sale, the director directly owned 612,155 shares in the company, valued at approximately $10,620,889.25. This trade represents a 26.75% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 owned by corporate insiders.

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.