Saranac Partners Ltd Purchases Shares of 404,420 Huntington Bancshares Incorporated $HBAN

Saranac Partners Ltd purchased a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the second quarter, HoldingsChannel reports. The institutional investor purchased 404,420 shares of the bank’s stock, valued at approximately $7,175,000. Huntington Bancshares comprises about 2.1% of Saranac Partners Ltd’s investment portfolio, making the stock its 19th largest position.

Several other institutional investors also recently modified their holdings of the stock. MV Capital Management Inc. bought a new stake in Huntington Bancshares during the fourth quarter valued at approximately $25,000. Palisade Asset Management LLC bought a new position in shares of Huntington Bancshares in the 3rd quarter worth $26,000. Centennial Bank AR purchased a new stake in shares of Huntington Bancshares during the 4th quarter valued at $28,000. Trust Co. of Vermont bought a new stake in shares of Huntington Bancshares during the 2nd quarter worth $29,000. Finally, Johnson Financial Group Inc. bought a new stake in shares of Huntington Bancshares during the 2nd quarter worth $31,000. 80.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 27,971 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $17.20, for a total value of $481,101.20. Following the transaction, the insider owned 70,025 shares in the company, valued at approximately $1,204,430. The trade was a 28.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marcy C. Hingst sold 10,568 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the transaction, the executive vice president directly owned 267,859 shares of the company’s stock, valued at approximately $4,821,462. This trade 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 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. Insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on HBAN shares. Robert W. Baird increased 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. Wells Fargo & Company initiated coverage on Huntington Bancshares in a report on Monday, August 17th. They issued an “overweight” rating and a $23.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on Huntington Bancshares from $18.50 to $19.50 and gave the company an “overweight” rating in a research report on Monday, July 6th. Morgan Stanley reissued an “equal weight” rating and set a $19.00 price objective (down from $21.00) on shares of Huntington Bancshares in a report on Friday, July 24th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $21.00 target price on shares of Huntington Bancshares in a research report on Tuesday, August 18th. One 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 given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.24.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock opened at $17.03 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.92 and a quick ratio of 0.91. Huntington Bancshares Incorporated has a one year low of $14.89 and a one year high of $19.45. The business’s 50 day simple moving average is $17.60 and its two-hundred day simple moving average is $16.87. The stock has a market capitalization of $34.41 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 0.81 and a beta of 0.94.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Analysts forecast that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Announces Dividend

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