Maverick Capital Ltd. Invests $1.30 Million in Huntington Bancshares Incorporated $HBAN

Maverick Capital Ltd. purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 1st quarter, Holdings Channel.com reports. The fund purchased 83,182 shares of the bank’s stock, valued at approximately $1,302,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. MV Capital Management Inc. purchased a new position in shares of Huntington Bancshares in the 4th quarter valued at approximately $25,000. Palisade Asset Management LLC purchased a new position in Huntington Bancshares in the 3rd quarter valued at $26,000. Centennial Bank AR purchased a new position in Huntington Bancshares in the 4th quarter valued at $28,000. Johnson Financial Group Inc. increased its stake in Huntington Bancshares by 48.8% in the 1st quarter. Johnson Financial Group Inc. now owns 2,157 shares of the bank’s stock valued at $34,000 after buying an additional 707 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC increased its stake in Huntington Bancshares by 80.7% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,226 shares of the bank’s stock valued at $35,000 after buying an additional 994 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

HBAN opened at $17.16 on Tuesday. Huntington Bancshares Incorporated has a 1-year low of $14.89 and a 1-year high of $19.45. The stock has a market cap of $34.79 billion, a P/E ratio of 13.30, a P/E/G ratio of 0.78 and a beta of 0.93. The stock’s 50 day simple moving average is $17.16 and its 200 day simple moving average is $16.92. 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 (NASDAQ:HBAN) last issued 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 firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations 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 firm posted $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. As a group, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.62 EPS 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. Stockholders 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 dividend yield of 3.6%. The ex-dividend date of this dividend is Thursday, September 17th. Huntington Bancshares’s payout ratio is 48.06%.

Insider Activity

In related news, EVP Marcy C. Hingst sold 10,568 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the sale, the executive vice president directly owned 267,859 shares in the company, valued at $4,821,462. The trade was a 3.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the sale, the director directly owned 612,155 shares in the company, valued at approximately $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. Insiders purchased a total of 22,000 shares of company stock worth $401,219 over the last quarter. Insiders own 0.67% of the company’s stock.

Analysts Set New Price Targets

HBAN has been the topic of several analyst reports. Jefferies Financial Group set a $18.00 target price on shares of Huntington Bancshares in a report on Thursday. The Goldman Sachs Group reduced their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Barclays cut Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Evercore reissued an “outperform” rating and issued a $21.00 price target on shares of Huntington Bancshares in a report on Monday, July 6th. Finally, Robert W. Baird upped their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.07.

Huntington Bancshares 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.