SummitTX Capital L.P. Invests $1.70 Million in Huntington Bancshares Incorporated $HBAN

SummitTX Capital L.P. acquired a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 108,732 shares of the bank’s stock, valued at approximately $1,702,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised 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 buying an additional 14,338,222 shares in the last quarter. State Street Corp lifted its holdings in shares of 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 buying an additional 3,438,501 shares during the period. Wellington Management Group LLP boosted its stake in shares of Huntington Bancshares by 4,265.5% in the fourth 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 in the last quarter. 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 acquiring an additional 2,363,905 shares during the period. Finally, Invesco Ltd. grew its holdings 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 acquiring an additional 3,908,927 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

HBAN opened at $16.84 on Thursday. Huntington Bancshares Incorporated has a 1 year low of $14.89 and a 1 year high of $19.45. The company’s 50 day simple moving average is $17.21 and its 200 day simple moving average is $16.90. The stock has a market capitalization of $34.14 billion, a PE ratio of 13.05, a P/E/G ratio of 0.82 and a beta of 0.93. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.91 and a current ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, July 23rd. The bank reported $0.39 earnings per share for the quarter, hitting the consensus estimate of $0.39. The business 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 period last year, the company posted $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. As a group, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.6 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Thursday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.7%. Huntington Bancshares’s payout ratio is presently 48.06%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Robert W. Baird raised 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. Barclays cut shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. raised their price objective on shares of Huntington Bancshares from $18.50 to $19.50 and gave the company an “overweight” rating in a research note on Monday, July 6th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $19.00 price objective (down from $21.00) on shares of Huntington Bancshares in a research note on Friday, July 24th. Finally, Bank of America reiterated a “neutral” rating and issued a $18.50 price target (down from $20.00) on shares of Huntington Bancshares in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus price target of $20.11.

Insider Transactions at Huntington Bancshares

In other 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 completion of the sale, the director owned 612,155 shares of the company’s stock, valued at $10,620,889.25. This represents a 26.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Marcy C. Hingst sold 10,568 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have acquired 22,000 shares of company stock worth $401,219. 0.67% of the stock is currently owned by insiders.

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.