Basswood Capital Management L.L.C. Takes $26.36 Million Position in Huntington Bancshares Incorporated $HBAN

Basswood Capital Management L.L.C. bought a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,486,699 shares of the bank’s stock, valued at approximately $26,359,000. Basswood Capital Management L.L.C. owned about 0.07% of Huntington Bancshares as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Empowered Funds LLC increased its holdings in shares of Huntington Bancshares by 5.0% in the first quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock worth $434,000 after purchasing an additional 1,366 shares during the last quarter. Woodline Partners LP boosted its stake in Huntington Bancshares by 40.8% during the first quarter. Woodline Partners LP now owns 122,821 shares of the bank’s stock valued at $1,844,000 after buying an additional 35,574 shares during the last quarter. Brown Advisory Inc. increased its stake in Huntington Bancshares by 8.3% in the 2nd quarter. Brown Advisory Inc. now owns 39,490 shares of the bank’s stock worth $662,000 after acquiring an additional 3,023 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Huntington Bancshares by 6.2% during the second quarter. Daiwa Securities Group Inc. now owns 219,185 shares of the bank’s stock valued at $3,674,000 after purchasing an additional 12,865 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Huntington Bancshares by 6.2% during the second quarter. Sei Investments Co. now owns 707,605 shares of the bank’s stock worth $11,859,000 after acquiring an additional 41,156 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Trading Up 0.5%

Shares of NASDAQ:HBAN opened at $17.04 on Thursday. The company has a market capitalization of $34.43 billion, a PE ratio of 13.21, a P/E/G ratio of 0.80 and a beta of 0.94. The company has a current ratio of 0.92, a quick ratio of 0.91 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’s fifty day simple moving average is $17.59 and its 200-day simple moving average is $16.83.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $0.39 earnings per share for the quarter, hitting 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 analysts’ expectations of $2.84 billion. During the same period in the prior 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 research analysts predict that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current fiscal 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 given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Thursday, September 17th. Huntington Bancshares’s dividend payout ratio is presently 48.06%.

Wall Street Analyst Weigh In

A number of research firms recently commented on HBAN. JPMorgan Chase & Co. lifted their price target 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 increased their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Wells Fargo & Company assumed coverage on shares of Huntington Bancshares in a research note on Monday, August 17th. They issued an “overweight” rating and a $23.00 price objective for the company. 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 report on Friday, July 24th. Finally, Wall Street Zen raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and a consensus price target of $20.24.

Insider Activity

In other news, insider Kendall A. Kowalski sold 27,971 shares of the firm’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 sale, the insider directly owned 70,025 shares in the company, valued at approximately $1,204,430. This trade represents a 28.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the transaction, the executive vice president directly owned 267,859 shares in the company, valued at approximately $4,821,462. The trade was a 3.80% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have bought 22,000 shares of company stock worth $401,219 and have sold 262,061 shares worth $4,549,432. Company insiders own 0.67% of the company’s stock.

About Huntington Bancshares

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.