Man Group plc Takes $29.01 Million Position in Huntington Bancshares Incorporated $HBAN

Man Group plc purchased a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,636,270 shares of the bank’s stock, valued at approximately $29,011,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Bancorp Inc ME bought a new position in shares of Huntington Bancshares during the 2nd quarter worth approximately $389,000. Jupiter Topco LLC bought a new position in shares of Huntington Bancshares in the second quarter valued at approximately $3,627,000. Canada Pension Plan Investment Board purchased a new stake in shares of Huntington Bancshares during the second quarter valued at approximately $553,000. Legal & General Group Plc purchased a new stake in shares of Huntington Bancshares during the second quarter valued at approximately $213,096,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Huntington Bancshares during the second quarter worth $94,626,000. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, 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 transaction, the director owned 612,155 shares in the company, valued at $10,620,889.25. This trade represents a 26.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kendall A. Kowalski sold 27,971 shares of Huntington Bancshares stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $17.20, for a total transaction of $481,101.20. Following the completion of the transaction, the insider owned 70,025 shares of the company’s stock, valued at $1,204,430. The trade was a 28.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have bought 22,000 shares of company stock worth $401,219 and have sold 262,061 shares worth $4,549,432. 0.67% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on HBAN shares. UBS Group boosted their price objective on Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. lifted their target price on Huntington Bancshares from $18.50 to $19.50 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Wall Street Zen raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings upgraded shares of Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, July 6th. Finally, Jefferies Financial Group set a $18.00 price objective on shares of Huntington Bancshares in a report on Thursday, July 23rd. 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 assigned a Sell rating to the company. According to data from MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $20.24.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $17.04 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $17.59 and a two-hundred day simple moving average of $16.83. Huntington Bancshares Incorporated has a 1-year low of $14.89 and a 1-year high of $19.45. The firm has a market cap of $34.43 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 0.80 and a beta of 0.94.

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 the consensus estimate of $0.39. Huntington Bancshares had a return on equity of 11.19% and a net margin of 16.64%.The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period in the previous year, the company posted $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Analysts anticipate that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current 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 $0.155 dividend. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $0.62 annualized dividend and a yield of 3.6%. Huntington Bancshares’s dividend payout ratio (DPR) is 48.06%.

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.