Pallas Capital Advisors LLC Invests $809,000 in Huntington Bancshares Incorporated $HBAN

Pallas Capital Advisors LLC acquired a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 45,606 shares of the bank’s stock, valued at approximately $809,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HBAN. CIBC Asset Management Inc boosted its stake in shares of Huntington Bancshares by 24.5% in the 4th 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 increased its position in Huntington Bancshares by 688.9% during the 4th 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 lifted its stake in Huntington Bancshares by 25.4% in the 4th quarter. Hsbc Holdings PLC now owns 8,161,085 shares of the bank’s stock valued at $141,625,000 after purchasing an additional 1,652,464 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Huntington Bancshares by 991.7% in the 1st quarter. International Assets Investment Management LLC now owns 67,588 shares of the bank’s stock valued at $1,073,000 after purchasing an additional 61,397 shares during the last quarter. Finally, SouthState Bank Corp boosted its position in Huntington Bancshares by 19,902.9% in the first quarter. SouthState Bank Corp now owns 131,819 shares of the bank’s stock valued at $2,063,000 after buying an additional 131,160 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Robert W. Baird upped their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Weiss Ratings upgraded Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, July 6th. 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 report on Monday, July 27th. Wall Street Zen upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Piper Sandler raised Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price objective for the company in a research note on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.24.

Huntington Bancshares Stock Down 1.6%

Shares of NASDAQ:HBAN opened at $17.66 on Wednesday. The firm has a market cap of $35.68 billion, a P/E ratio of 13.69, a P/E/G ratio of 0.85 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 Incorporated has a 12-month low of $14.89 and a 12-month high of $19.45. The business has a fifty day simple moving average of $17.60 and a 200 day simple moving average of $16.88.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, July 23rd. The bank reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate 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 business earned $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 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced 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. The ex-dividend date is Thursday, September 17th. This represents a $0.62 annualized dividend and a yield of 3.5%. Huntington Bancshares’s dividend payout ratio is presently 48.06%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 27,971 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $17.20, for a total transaction of $481,101.20. Following the sale, the insider owned 70,025 shares of the company’s stock, valued at approximately $1,204,430. This represents a 28.54% decrease in their ownership of the stock. 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 Huntington Bancshares stock in a transaction dated 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 completion of the transaction, the director directly owned 612,155 shares of the company’s stock, valued at approximately $10,620,889.25. This trade represents a 26.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have bought 22,000 shares of company stock worth $401,219 and have sold 262,061 shares worth $4,549,432. 0.67% of the stock is owned by company insiders.

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.