First Citizens Bank & Trust Co. Acquires New Shares in Huntington Bancshares Incorporated $HBAN

First Citizens Bank & Trust Co. purchased a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 3rd quarter, HoldingsChannel reports. The firm purchased 55,235 shares of the bank’s stock, valued at approximately $843,000.

Several other hedge funds have also recently bought and sold shares of HBAN. BlackRock Inc. bought a new position in shares of Huntington Bancshares in the second quarter valued at approximately $3,134,426,000. Dimensional Fund Advisors LP lifted its position in shares of Huntington Bancshares by 27.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 23,480,601 shares of the bank’s stock worth $367,388,000 after acquiring an additional 5,026,894 shares during the period. Amundi boosted its stake in Huntington Bancshares by 30.7% during the first quarter. Amundi now owns 19,502,547 shares of the bank’s stock worth $305,215,000 after buying an additional 4,578,566 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Huntington Bancshares during the 2nd quarter valued at about $256,772,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Huntington Bancshares by 17.8% in the 1st quarter. Bank of New York Mellon Corp now owns 13,184,586 shares of the bank’s stock valued at $206,339,000 after purchasing an additional 1,993,618 shares during the period. 80.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Huntington Bancshares

In other news, insider Kendall Kowalski sold 27,971 shares of the firm’s stock in a transaction that occurred on 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 $1,204,430. This trade represents a 28.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.67% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HBAN. Keefe, Bruyette & Woods cut their target price on shares of Huntington Bancshares from $19.50 to $18.00 and set a “market perform” rating for the company in a research note on Tuesday, October 6th. DA Davidson lowered their price target on shares of Huntington Bancshares from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, September 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Huntington Bancshares in a research note on Friday, October 2nd. Wells Fargo & Company reduced their price target on shares of Huntington Bancshares from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 16th. Finally, TD Cowen assumed coverage on Huntington Bancshares in a research note on Thursday, October 8th. They set a “buy” rating and a $18.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Huntington Bancshares has a consensus rating of “Moderate Buy” and a consensus target price of $19.19.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $15.27 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market cap of $30.85 billion, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 0.98 and a beta of 0.95. The stock’s 50-day moving average is $16.34 and its 200-day moving average is $16.66. Huntington Bancshares Incorporated has a one year low of $14.82 and a one year high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $0.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.39. Huntington Bancshares had a return on equity of 11.19% and a net margin of 16.64%. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the company earned $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Equities analysts predict that Huntington Bancshares Incorporated will post 1.54 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 17th were given a dividend of $0.1550 per share. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $0.62 dividend on an annualized basis and a yield of 4.1%. Huntington Bancshares’s dividend payout ratio is 48.06%.

Huntington Bancshares Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides consumer, small-business and commercial banking services through branch offices, digital banking channels and automated teller machines.

The company offers deposit accounts, residential and commercial mortgages, home equity lending, auto loans, personal lending, credit cards and other consumer financial products. Its business banking operations provide lending, treasury management, payment processing and capital markets services, while its wealth management and insurance businesses serve individuals, families and institutions.

Founded in 1866, Huntington has developed a banking franchise across the Midwest, with a presence in states including Ohio, Michigan, Pennsylvania, Indiana, West Virginia, Kentucky, Illinois and Wisconsin.