Saranac Partners Ltd Buys New Position in Huntington Bancshares Incorporated $HBAN

Saranac Partners Ltd bought a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 404,420 shares of the bank’s stock, valued at approximately $7,175,000. Huntington Bancshares accounts for about 2.1% of Saranac Partners Ltd’s investment portfolio, making the stock its 19th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its position in shares of Huntington Bancshares by 24.5% in the 4th quarter. CIBC Asset Management Inc now owns 533,005 shares of the bank’s stock worth $9,248,000 after acquiring an additional 104,965 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in shares of Huntington Bancshares by 688.9% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 86,478 shares of the bank’s stock worth $1,500,000 after buying an additional 75,516 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Huntington Bancshares by 25.4% during the 4th quarter. Hsbc Holdings PLC now owns 8,161,085 shares of the bank’s stock worth $141,625,000 after buying an additional 1,652,464 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Huntington Bancshares by 991.7% during the 1st quarter. International Assets Investment Management LLC now owns 67,588 shares of the bank’s stock worth $1,073,000 after buying an additional 61,397 shares during the period. Finally, SouthState Bank Corp increased its stake in shares of Huntington Bancshares by 19,902.9% in the 1st quarter. SouthState Bank Corp now owns 131,819 shares of the bank’s stock valued at $2,063,000 after acquiring an additional 131,160 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Analysts Set New Price Targets

HBAN has been the topic of a number of research reports. 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. Jefferies Financial Group set a $18.00 price target on shares of Huntington Bancshares in a research note on Thursday, July 23rd. Wells Fargo & Company started coverage on shares of Huntington Bancshares in a research report on Monday, August 17th. They set an “overweight” rating and a $23.00 price objective on the stock. Stephens reduced their price target on shares of Huntington Bancshares from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Friday, July 24th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, August 18th. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.24.

Insider Activity at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 10,568 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $18.00, for a total transaction of $190,224.00. Following the sale, the executive vice president owned 267,859 shares of the company’s stock, valued at approximately $4,821,462. This represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kendall A. Kowalski sold 27,971 shares of the firm’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 approximately $1,204,430. This represents a 28.54% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, 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 currently owned by corporate insiders.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $17.03 on Monday. The firm has a market cap of $34.41 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 0.81 and a beta of 0.94. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.63. The company’s 50 day moving average is $17.60 and its 200-day moving average is $16.87. Huntington Bancshares Incorporated has a 12-month low of $14.89 and a 12-month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $0.39 earnings per share 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 business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period in the previous year, the business earned $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Sell-side analysts predict that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 17th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Thursday, September 17th. Huntington Bancshares’s payout ratio is presently 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.