332,134 Shares in Huntington Bancshares Incorporated $HBAN Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. acquired a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 332,134 shares of the bank’s stock, valued at approximately $5,919,000.

Several other hedge funds have also added to or reduced their stakes in HBAN. BlackRock Inc. bought a new position in shares of Huntington Bancshares during the second quarter valued at $3,134,426,000. Wellington Management Group LLP boosted its stake in Huntington Bancshares by 4,265.5% in the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock worth $1,215,955,000 after purchasing an additional 68,478,435 shares in the last quarter. Norges Bank purchased a new stake in Huntington Bancshares during the 4th quarter valued at about $432,584,000. Bank of America Corp DE bought a new stake in Huntington Bancshares during the 2nd quarter valued at about $256,772,000. Finally, Bank of New York Mellon Corp bought a new stake in Huntington Bancshares during the 2nd quarter valued at about $229,246,000. 80.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on HBAN shares. Weiss Ratings upgraded shares of Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, July 6th. Robert W. Baird boosted their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Evercore restated an “outperform” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a report on Monday, July 6th. Truist Financial increased their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Finally, Bank of America restated a “neutral” rating and issued a $18.50 price target (down from $20.00) on shares of Huntington Bancshares in a research note on Monday, July 27th. One investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.24.

Insiders Place Their Bets

In other news, insider Kendall A. Kowalski sold 27,971 shares of Huntington Bancshares stock in a transaction on Monday, August 3rd. The shares were 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 in the company, valued at $1,204,430. This trade represents a 28.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James D. Rollins III sold 223,522 shares of the firm’s stock in a transaction dated 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 directly owned 612,155 shares in the company, valued at $10,620,889.25. This trade represents a 26.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 22,000 shares of company stock worth $401,219 and have sold 262,061 shares worth $4,549,432. Insiders own 0.67% of the company’s stock.

Huntington Bancshares Trading Up 0.4%

Shares of NASDAQ:HBAN opened at $16.92 on Friday. The stock’s 50-day simple moving average is $17.59 and its two-hundred day simple moving average is $16.82. The stock has a market capitalization of $34.19 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 0.80 and a beta of 0.94. Huntington Bancshares Incorporated has a 52-week low of $14.89 and a 52-week high of $19.45. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.91 and a current ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates 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 prior year, the firm earned $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Analysts expect that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm 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 $0.155 dividend. The ex-dividend date is Thursday, September 17th. This represents a $0.62 annualized dividend and a yield of 3.7%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 48.06%.

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.