Northwestern Mutual Wealth Management Co. Acquires New Stake in Huntington Bancshares Incorporated $HBAN

Northwestern Mutual Wealth Management Co. purchased a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 153,593 shares of the bank’s stock, valued at approximately $2,723,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its stake in 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 in the last quarter. BlackRock Inc. acquired a new stake in Huntington Bancshares in the 2nd quarter valued at about $3,134,426,000. State Street Corp raised its position 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 in the last quarter. Wellington Management Group LLP boosted its stake in shares of Huntington Bancshares by 4,265.5% in the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock valued at $1,215,955,000 after buying an additional 68,478,435 shares during the period. Finally, Boston Partners grew its position in shares of 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 buying an additional 2,363,905 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Marcy C. Hingst sold 10,568 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the transaction, the executive vice president owned 267,859 shares in the company, valued at $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 is available 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 stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $17.20, for a total transaction of $481,101.20. Following the completion of the transaction, the insider directly owned 70,025 shares of the company’s stock, valued at approximately $1,204,430. This trade represents a 28.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders acquired 22,000 shares of company stock worth $401,219 and sold 262,061 shares worth $4,549,432. 0.67% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HBAN shares. Stephens decreased 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 note on Friday, July 24th. Weiss Ratings upgraded shares of Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, July 6th. Wells Fargo & Company assumed coverage on shares of Huntington Bancshares in a report on Monday, August 17th. They issued an “overweight” rating and a $23.00 price objective on the stock. Jefferies Financial Group set a $18.00 price objective on shares of Huntington Bancshares in a research report on Thursday, July 23rd. Finally, Robert W. Baird increased their target price on Huntington Bancshares from $20.00 to $21.00 and gave the company an “outperform” rating 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 given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.24.

Huntington Bancshares Stock Up 0.1%

HBAN stock opened at $17.04 on Tuesday. The company has a fifty day moving average price of $17.59 and a 200 day moving average price of $16.86. Huntington Bancshares Incorporated has a 12 month low of $14.89 and a 12 month high of $19.45. The company has a market cap of $34.43 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 0.81 and a beta of 0.94. 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 (NASDAQ:HBAN) last released 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 firm had revenue of $2.86 billion for the quarter, compared to analyst estimates 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 last year, the company posted $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Sell-side analysts expect that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 17th will be given a $0.155 dividend. The ex-dividend date is Thursday, September 17th. This represents a $0.62 annualized dividend and a yield of 3.6%. Huntington Bancshares’s dividend payout ratio is presently 48.06%.

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.