Smith Group Asset Management LLC Acquires 99,863 Shares of Huntington Bancshares Incorporated $HBAN

Smith Group Asset Management LLC lifted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,153,755 shares of the bank’s stock after purchasing an additional 99,863 shares during the period. Huntington Bancshares accounts for about 1.7% of Smith Group Asset Management LLC’s investment portfolio, making the stock its 29th biggest holding. Smith Group Asset Management LLC’s holdings in Huntington Bancshares were worth $33,706,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. MV Capital Management Inc. bought a new position in Huntington Bancshares during the fourth quarter valued at about $25,000. Palisade Asset Management LLC acquired a new position in shares of Huntington Bancshares during the 3rd quarter valued at about $26,000. Centennial Bank AR bought a new position in shares of Huntington Bancshares in the 4th quarter valued at approximately $28,000. Johnson Financial Group Inc. lifted its holdings in Huntington Bancshares by 48.8% in the 1st quarter. Johnson Financial Group Inc. now owns 2,157 shares of the bank’s stock worth $34,000 after purchasing an additional 707 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its position in Huntington Bancshares by 80.7% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,226 shares of the bank’s stock worth $35,000 after purchasing an additional 994 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Insider Activity

In other Huntington Bancshares news, Director James D. Rollins III sold 223,522 shares of the company’s stock in a transaction that occurred on 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 owned 612,155 shares of the company’s stock, valued at $10,620,889.25. This represents a 26.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Marcy C. Hingst sold 10,568 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the sale, the executive vice president owned 267,859 shares of the company’s stock, valued at $4,821,462. This represents 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. Insiders have purchased 22,000 shares of company stock worth $401,219 over the last 90 days. Corporate insiders own 0.67% of the company’s stock.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $17.30 on Wednesday. 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 firm has a market capitalization of $35.07 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 0.79 and a beta of 0.93. The company’s fifty day moving average is $17.19 and its two-hundred day moving average is $16.91. Huntington Bancshares Incorporated has a 52-week low of $14.89 and a 52-week high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Equities research analysts forecast that Huntington Bancshares Incorporated will post 1.6 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 17th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.6%. The ex-dividend date is Thursday, September 17th. Huntington Bancshares’s payout ratio is currently 48.06%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HBAN. Stephens dropped their price target on shares of Huntington Bancshares from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Friday, July 24th. Robert W. Baird boosted their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Bank of America restated a “neutral” rating and set a $18.50 price target (down from $20.00) on shares of Huntington Bancshares in a report on Monday. Evercore reissued an “outperform” rating and set a $21.00 price objective on shares of Huntington Bancshares in a research report on Monday, July 6th. Finally, Truist Financial raised their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.11.

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.