Mitsubishi UFJ Asset Management Co. Ltd. Invests $88.85 Million in Huntington Bancshares Incorporated $HBAN

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the second quarter, HoldingsChannel reports. The fund purchased 5,011,473 shares of the bank’s stock, valued at approximately $88,853,000.

Other hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC raised its holdings in Huntington Bancshares by 5.0% during the first quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock worth $434,000 after purchasing an additional 1,366 shares during the last quarter. Woodline Partners LP grew its holdings in Huntington Bancshares by 40.8% in the first quarter. Woodline Partners LP now owns 122,821 shares of the bank’s stock valued at $1,844,000 after purchasing an additional 35,574 shares during the last quarter. Brown Advisory Inc. grew its holdings in Huntington Bancshares by 8.3% in the second quarter. Brown Advisory Inc. now owns 39,490 shares of the bank’s stock valued at $662,000 after purchasing an additional 3,023 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Huntington Bancshares by 6.2% in the second quarter. Daiwa Securities Group Inc. now owns 219,185 shares of the bank’s stock valued at $3,674,000 after buying an additional 12,865 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of Huntington Bancshares by 6.2% in the second quarter. Sei Investments Co. now owns 707,605 shares of the bank’s stock valued at $11,859,000 after buying an additional 41,156 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Kendall A. Kowalski sold 27,971 shares of Huntington Bancshares 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 sale, the insider directly owned 70,025 shares in the company, valued at $1,204,430. The trade was a 28.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James D. Rollins III sold 223,522 shares of the business’s stock in a transaction that occurred on 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 completion of 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. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have bought 22,000 shares of company stock valued at $401,219 and have sold 262,061 shares valued at $4,549,432. 0.67% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on HBAN shares. 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 research report on Friday, July 24th. UBS Group raised their target price on shares of Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Truist Financial lifted their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Wells Fargo & Company initiated coverage on shares of Huntington Bancshares in a report on Monday. They issued an “overweight” rating and a $23.00 price target on the stock. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned 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 presently has a consensus rating of “Moderate Buy” and an average target price of $20.24.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $17.66 on Wednesday. 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 Incorporated has a fifty-two week low of $14.89 and a fifty-two week high of $19.45. The business has a fifty day moving average of $17.60 and a 200-day moving average of $16.88. The stock has a market cap of $35.68 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 0.85 and a beta of 0.94.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates 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 quarter last year, the company earned $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. As a group, analysts predict that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 17th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Thursday, September 17th. Huntington Bancshares’s dividend payout ratio is 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.