Quantitative Investment Management LLC Makes New Investment in Huntington Bancshares Incorporated $HBAN

by · The Markets Daily

Quantitative Investment Management LLC acquired a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 140,673 shares of the bank’s stock, valued at approximately $2,494,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HBAN. Susquehanna Fundamental Investments LLC bought a new stake in shares of Huntington Bancshares in the second quarter valued at about $21,725,000. Moore Capital Management LP grew its position in Huntington Bancshares by 9.1% during the second quarter. Moore Capital Management LP now owns 1,186,600 shares of the bank’s stock worth $21,038,000 after buying an additional 98,600 shares in the last quarter. Two Sigma Securities LLC increased its stake in Huntington Bancshares by 94.6% during the second quarter. Two Sigma Securities LLC now owns 79,079 shares of the bank’s stock valued at $1,402,000 after acquiring an additional 38,440 shares during the period. Alyeska Investment Group L.P. bought a new position in Huntington Bancshares during the second quarter valued at about $6,954,000. Finally, Hennessy Advisors Inc. acquired a new position in Huntington Bancshares in the 2nd quarter valued at approximately $177,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Bank of America reaffirmed a “neutral” rating and issued a $18.50 target price (down from $20.00) on shares of Huntington Bancshares in a research report on Monday, July 27th. Weiss Ratings raised shares of Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, July 6th. JPMorgan Chase & Co. increased their price objective on shares of Huntington Bancshares from $18.50 to $19.50 and gave the company an “overweight” rating in a research note on Monday, July 6th. Wall Street Zen raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $19.00 target price (down from $21.00) on shares of Huntington Bancshares in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.24.

Check Out Our Latest Research Report on HBAN

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 10,568 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the transaction, the executive vice president directly owned 267,859 shares in the company, valued at $4,821,462. The trade was a 3.80% decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the sale, the director directly owned 612,155 shares in the company, valued at $10,620,889.25. This represents a 26.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have bought 22,000 shares of company stock valued at $401,219 and have sold 262,061 shares valued at $4,549,432. 0.67% of the stock is owned by insiders.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $16.92 on Monday. The business has a 50 day simple moving average of $17.59 and a 200 day simple moving average of $16.80. 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 company has a market capitalization of $34.19 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 0.80 and a beta of 0.94. Huntington Bancshares Incorporated has a one year low of $14.89 and a one year high of $19.45.

Huntington Bancshares (NASDAQ:HBAN – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the prior year, the business posted $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. On average, sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.61 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 17th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.7%. Huntington Bancshares’s dividend payout ratio is presently 48.06%.

Huntington Bancshares Profile

(Free Report)

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.

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