108,732 Shares in Huntington Bancshares Incorporated $HBAN Acquired by SummitTX Capital L.P.

SummitTX Capital L.P. purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 108,732 shares of the bank’s stock, valued at approximately $1,702,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. MV Capital Management Inc. acquired a new stake in Huntington Bancshares during the fourth quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new position in shares of Huntington Bancshares in the 3rd quarter valued at $26,000. Centennial Bank AR acquired a new position in shares of Huntington Bancshares in the 4th quarter valued at $28,000. Johnson Financial Group Inc. grew its position in shares of 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 last quarter. Finally, DV Equities LLC acquired a new stake in Huntington Bancshares during the 4th quarter worth $38,000. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Down 2.7%

Shares of NASDAQ:HBAN opened at $16.84 on Thursday. The stock has a market cap of $34.14 billion, a P/E ratio of 13.05, a P/E/G ratio of 0.82 and a beta of 0.93. The firm has a fifty day moving average price of $17.21 and a 200 day moving average price of $16.90. 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 Incorporated has a 1-year low of $14.89 and a 1-year high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. The company had revenue of $2.86 billion for 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 period in the previous year, the business posted $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Sell-side analysts predict that Huntington Bancshares Incorporated will post 1.6 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 17th will be issued 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 dividend yield of 3.7%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 48.06%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on HBAN shares. JPMorgan Chase & Co. boosted their price target on shares of Huntington Bancshares from $18.50 to $19.50 and gave the company an “overweight” rating in a research report on Monday, July 6th. Truist Financial raised their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday. Royal Bank Of Canada lifted their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Morgan Stanley reissued an “equal weight” rating and issued 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 Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One equities 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 given a Sell rating to the stock. According to data from MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and a consensus target price of $20.11.

Insider Activity

In other Huntington Bancshares news, 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 value of $190,224.00. Following the transaction, the executive vice president directly owned 267,859 shares in the company, valued at approximately $4,821,462. This trade represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 business’s stock in a transaction that occurred on 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 transaction, 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 position. The disclosure for this sale is available in the SEC filing. Insiders purchased a total of 22,000 shares of company stock worth $401,219 in the last 90 days. 0.67% of the stock is currently owned by insiders.

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.