Public Employees Retirement System of Ohio Acquires New Stake in Huntington Bancshares Incorporated $HBAN

Public Employees Retirement System of Ohio bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 958,953 shares of the bank’s stock, valued at approximately $17,002,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Huntington Bancshares during the second quarter valued at approximately $3,134,426,000. Wellington Management Group LLP increased its position in Huntington Bancshares by 4,265.5% in the fourth quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock worth $1,215,955,000 after buying an additional 68,478,435 shares in the last quarter. Norges Bank purchased a new position in shares of Huntington Bancshares during the 4th quarter valued at about $432,584,000. Bank of America Corp DE purchased a new stake in Huntington Bancshares in the 2nd quarter worth approximately $256,772,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Huntington Bancshares in the second quarter worth approximately $229,246,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Trading Up 0.4%

NASDAQ HBAN opened at $16.92 on Friday. The stock has a market cap of $34.19 billion, a PE ratio of 13.12, a PEG ratio of 0.80 and a beta of 0.94. Huntington Bancshares Incorporated has a 12 month low of $14.89 and a 12 month high of $19.45. The company’s 50-day moving average price is $17.59 and its 200-day moving average price is $16.82. 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 (NASDAQ:HBAN) last announced 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 net margin of 16.64% and a return on equity of 11.19%. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the business 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 1.61 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.7%. Huntington Bancshares’s payout ratio is 48.06%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on HBAN shares. UBS Group boosted their price objective on Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Wells Fargo & Company started coverage on shares of Huntington Bancshares in a report on Monday, August 17th. They set an “overweight” rating and a $23.00 price objective for the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $21.00 target price on shares of Huntington Bancshares in a report on Tuesday, August 18th. Morgan Stanley reaffirmed an “equal weight” rating and set a $19.00 target price (down from $21.00) on shares of Huntington Bancshares in a research note on Friday, July 24th. Finally, Robert W. Baird boosted their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus price target of $20.24.

Insiders Place Their Bets

In other news, insider Kendall A. Kowalski sold 27,971 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $17.20, for a total transaction of $481,101.20. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James D. Rollins III sold 223,522 shares of Huntington Bancshares stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $17.35, for a total value of $3,878,106.70. Following the completion of the sale, the director owned 612,155 shares of the company’s stock, valued at $10,620,889.25. The trade was a 26.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders bought 22,000 shares of company stock worth $401,219 and sold 262,061 shares worth $4,549,432. Company insiders own 0.67% of the company’s stock.

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.