Huntington Bancshares Incorporated $HBAN Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lessened its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 92.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 298,936 shares of the bank’s stock after selling 3,462,734 shares during the period. Bank of Nova Scotia’s holdings in Huntington Bancshares were worth $4,678,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. MV Capital Management Inc. acquired a new position in shares of Huntington Bancshares in the fourth quarter valued at approximately $25,000. Palisade Asset Management LLC acquired a new stake in Huntington Bancshares during the 3rd quarter worth approximately $26,000. Centennial Bank AR purchased a new position in Huntington Bancshares in the 4th quarter valued at approximately $28,000. Johnson Financial Group Inc. boosted its position in Huntington Bancshares by 48.8% in the 1st quarter. Johnson Financial Group Inc. now owns 2,157 shares of the bank’s stock valued at $34,000 after buying an additional 707 shares during the period. Finally, DV Equities LLC acquired a new position in shares of Huntington Bancshares in the fourth quarter worth $38,000. 80.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HBAN has been the topic of a number of analyst reports. Wolfe Research reduced their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. Wall Street Zen raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Bank of America restated a “neutral” rating and issued a $18.50 price target (down from $20.00) on shares of Huntington Bancshares in a research note on Monday. Barclays cut Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Finally, Jefferies Financial Group set a $18.00 price objective on Huntington Bancshares in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.07.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 10,568 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $18.00, for a total transaction of $190,224.00. Following the transaction, the executive vice president owned 267,859 shares of the company’s stock, valued at $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 available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the company’s 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 transaction, the director directly owned 612,155 shares of the company’s stock, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have purchased 22,000 shares of company stock worth $401,219 in the last three months. Insiders own 0.67% of the company’s stock.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $17.16 on Tuesday. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45. The company has a 50-day moving average price of $17.16 and a 200 day moving average price of $16.92. The company has a market cap of $34.79 billion, a P/E ratio of 13.30, a PEG ratio of 0.78 and a beta of 0.93. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.63.

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 analysts’ consensus estimates of $0.39. The company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Huntington Bancshares had a net margin of 16.64% and a return on equity of 11.19%. During the same period last year, the company posted $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Research analysts predict that Huntington Bancshares Incorporated will post 1.62 earnings per share for the current year.

Huntington Bancshares Announces Dividend

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

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.