Smith Group Asset Management LLC Has $33.71 Million Stock Holdings in Huntington Bancshares Incorporated $HBAN

Smith Group Asset Management LLC grew its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & 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 comprises about 1.7% of Smith Group Asset Management LLC’s holdings, making the stock its 29th biggest holding. Smith Group Asset Management LLC owned 0.11% of Huntington Bancshares worth $33,706,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of HBAN. MV Capital Management Inc. acquired a new stake in Huntington Bancshares during the 4th quarter worth about $25,000. Palisade Asset Management LLC acquired a new position in shares of Huntington Bancshares in the third quarter worth about $26,000. Centennial Bank AR purchased a new position in shares of Huntington Bancshares in the fourth quarter worth approximately $28,000. Johnson Financial Group Inc. increased its position in shares of Huntington Bancshares by 48.8% in the first quarter. Johnson Financial Group Inc. now owns 2,157 shares of the bank’s stock worth $34,000 after acquiring an additional 707 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of 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 valued at $35,000 after acquiring an additional 994 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on HBAN shares. Robert W. Baird raised their price objective 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. Morgan Stanley reissued 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. UBS Group increased their target price on Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Stephens lowered their price target on Huntington Bancshares from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. upped their price target on Huntington Bancshares from $18.50 to $19.50 and gave the company an “overweight” rating in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and an average target price of $20.11.

Huntington Bancshares Stock Up 0.8%

Huntington Bancshares stock opened at $17.30 on Wednesday. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month 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. The firm has a market cap of $35.07 billion, a PE ratio of 13.41, a P/E/G ratio of 0.79 and a beta of 0.93. The firm’s 50 day moving average price is $17.19 and its two-hundred day moving average price is $16.91.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, July 23rd. The bank reported $0.39 earnings per share (EPS) 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. On average, research analysts predict that Huntington Bancshares Incorporated will post 1.6 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed 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. This represents a $0.62 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Thursday, September 17th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 48.06%.

Insiders Place Their Bets

In other Huntington Bancshares news, Director James D. Rollins III sold 223,522 shares of the company’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 transaction, the director directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Marcy C. Hingst sold 10,568 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was 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 of the company’s stock, valued at $4,821,462. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have purchased 22,000 shares of company stock valued at $401,219. 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.