Pallas Capital Advisors LLC Takes Position in Huntington Bancshares Incorporated $HBAN

Pallas Capital Advisors LLC acquired a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 45,606 shares of the bank’s stock, valued at approximately $809,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Huntington Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after purchasing an additional 14,338,222 shares during the last quarter. State Street Corp lifted its stake in Huntington Bancshares by 4.7% in the 4th quarter. State Street Corp now owns 77,228,656 shares of the bank’s stock valued at $1,351,806,000 after purchasing an additional 3,438,501 shares during the last quarter. Wellington Management Group LLP grew its holdings in Huntington Bancshares by 4,265.5% during the fourth 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 during the period. Boston Partners grew its holdings in Huntington Bancshares by 3.9% during the third quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock worth $1,091,615,000 after purchasing an additional 2,363,905 shares during the period. Finally, Invesco Ltd. increased its position in Huntington Bancshares by 6.6% during the fourth quarter. Invesco Ltd. now owns 62,971,849 shares of the bank’s stock worth $1,092,562,000 after buying an additional 3,908,927 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $17.66 on Wednesday. The company has a market capitalization of $35.68 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 0.85 and a beta of 0.94. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.63. Huntington Bancshares Incorporated has a 12 month low of $14.89 and a 12 month high of $19.45. The stock’s 50 day moving average is $17.60 and its 200-day moving average is $16.88.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $0.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.39. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.84 billion. Huntington Bancshares had a return on equity of 11.19% and a net margin of 16.64%.During the same quarter in the prior year, the business posted $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Equities research analysts expect that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders 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 3.5%. The ex-dividend date of this dividend is Thursday, September 17th. Huntington Bancshares’s dividend payout ratio is 48.06%.

Insider Buying and Selling

In related news, insider Kendall A. Kowalski sold 27,971 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $17.20, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James D. Rollins III sold 223,522 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the sale, the director owned 612,155 shares in the company, valued at $10,620,889.25. The trade was a 26.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have purchased 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 owned by company insiders.

Analysts Set New Price Targets

HBAN has been the topic of several research analyst reports. UBS Group upped their price objective on Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Evercore restated an “outperform” rating and issued a $21.00 price target on shares of Huntington Bancshares in a research note on Monday, July 6th. Truist Financial raised their price target on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Piper Sandler raised shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price objective for the company in a research report on Thursday, April 23rd. Finally, Stephens decreased their price objective on shares of Huntington Bancshares from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average price target of $20.24.

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.