# Huntington Bancshares Incorporated (HBAN)

> Source: Nexqual · https://nexqual.com/HBAN · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Huntington Bancshares Incorporated (HBAN), nexqual.com/HBAN" · informational, not investment advice.

**Price:** USD 15.66 (-0.38% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 15.72 · day 15.47–15.89 · 52w 14.82–19.46 · market cap $31.6B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $9.72B, net income $2.40B (24.7% margin) (SEC filings).
- Valuation: P/E 13.2x (avg 11.3x at the last 3 fiscal year-ends).
- 1 of 80 tracked superinvestors hold HBAN (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Analysts: Buy (mean 2.14 on a 1–5 scale) (21 analysts), mean target USD 19.07 (range 17–22.5).
- Total return with dividends: 1Y +2.5% vs S&P 500 +14.9%; 5Y +17.1% vs S&P 500 +80.3%.
- Next earnings: 2026-10-22, EPS estimate USD 0.4, revenue estimate $2.86B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $5.99B | $7.25B | $7.36B | $7.38B | $8.17B | $9.72B |
| Net income | $1.29B | $2.24B | $1.95B | $1.94B | $2.21B | $2.40B |
| EPS (diluted) | $0.90 | $1.45 | $1.24 | $1.22 | $1.39 | — |
| Free cash flow | $1.81B | $3.81B | $2.52B | $1.69B | $2.21B | $2.68B |
| Net margin | 21.6% | 30.9% | 26.5% | 26.3% | 27.1% | 24.7% |
| Revenue growth | +24.4% | +21.1% | +1.5% | +0.3% | +10.6% | — |
| Cash + short-term investments | $5.52B | $6.70B | $10.1B | $12.8B | $13.5B | — |
| Total debt | $7.44B | $11.7B | $13.0B | $16.6B | $18.5B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 13.2x · P/S 3.3x · P/FCF 11.8x · P/B 1.0x · FCF yield 8.48% · Earnings yield 7.58% · Dividend yield (paid, TTM) 3.22%
P/E at fiscal year-ends: Dec 2025 11.8x, Dec 2024 12.4x, Dec 2023 9.6x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold HBAN. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Mairs & Power | Mairs & Power Funds | <0.01% | $464K | Reduced -3.9% |

## Analysts
Consensus Buy (mean 2.14 on a 1–5 scale), 21 analysts; mean target USD 19.07 (low 17, high 22.5).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-06 | Keefe, Bruyette & Woods | Target lowered | Market Perform | $19.5 → $18 |
| 2026-10-05 | UBS | Target lowered | Buy | $22 → $19 |
| 2026-10-02 | JP Morgan | Target lowered | Overweight | $19.5 → $17.5 |
| 2026-09-23 | Truist Securities | Target lowered | Buy | $20 → $19 |
| 2026-09-21 | DA Davidson | Target lowered | Buy | $22 → $20 |
| 2026-09-18 | Evercore ISI Group | Target lowered | Outperform | $20 → $18 |
| 2026-09-16 | Wells Fargo | Target lowered | Overweight | $23 → $21 |
| 2026-08-18 | RBC Capital | Reiterated | Outperform | $21 |
| 2026-08-17 | Wells Fargo | Initiated | Overweight | $23 |
| 2026-07-28 | Evercore ISI Group | Target lowered | Outperform | $21 → $20 |
| 2026-07-28 | Truist Securities | Target raised | Buy | $19 → $20 |
| 2026-07-27 | B of A Securities | Downgrade | Buy → Neutral | $20 → $18.5 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +2.5% | +17.1% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +2.5% | +3.2% |
| Volatility (annualized) | 26.0% | 32.0% |
| Max drawdown | -21.3% (Feb 2026→Mar 2026) | -44.2% (Jan 2022→May 2023) |

## Peers (Banks - Regional)
BBD (Banco Bradesco Sa) USD 3.95 -2.47% · FITB (Fifth Third Bancorp) USD 53.23 +0.80% · DB (Deutsche Bank AG) USD 31.48 -2.39% · TFC (Truist Financial Corporation) USD 48.42 +1.45% · NWG (NatWest Group plc) USD 16.99 -2.30% · NU (Nu Holdings Ltd.) USD 14.73 -2.13%

## More
Full page: https://nexqual.com/HBAN · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in HBAN's own 10-K filed 2026-02-13 (https://www.sec.gov/Archives/edgar/data/49196/000004919626000015/hban-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Cadence Design Systems (CDNS) | "It is possible that the integration process could result in the loss of key employees, the disruption of each company's ongoing businesses or inconsistencies in standards, controls, procedures, and policies that adversel…" |
| Partner | Veritex Holdings | "Our 2025 results reflect strong growth across loans, deposits, and value-added fee services, supported by the combination of existing and new businesses, and our partnership with Veritex." |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Consumer & Regional Banking | $362.0M | 72.1% | +22.7% |
| Commercial Banking | $136.0M | 27.1% | +61.9% |
| Total revenue | $502.0M | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Payments and cash management revenue | $134.0M | 26.7% | +14.5% |
| Wealth and asset management revenue | $128.0M | 25.5% | +30.6% |
| Customer deposit and loan fees | $72.0M | 14.3% | +24.1% |
| Insurance income | $17.0M | 3.4% | -10.5% |
| Capital markets and advisory fees | $7.0M | 1.4% | +250.0% |
| Leasing revenue | $2.0M | 0.4% | — |
| Other noninterest income | $2.0M | 0.4% | +100.0% |
| Total revenue | $502.0M | 100% | — |
The lines above cover 72.1% of total revenue.

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $0.40 | $0.44 | -8.3% | $2.86B | 15 |
| Next quarter (ends 2027-03-31) | $0.40 | $0.44 | -8.2% | $2.86B | 12 |
| Current fiscal year (ends 2026-12-31) | $1.55 | $1.60 | -3.2% | $11.12B | 17 |
| Next fiscal year (ends 2027-12-31) | $1.75 | $1.89 | -7.3% | $11.89B | 15 |

## Options: expected move (Cboe, 15-min delayed)

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 24.2% | ±5.7% |
| 2026-12-18 | 56 | 23.8% | ±8.1% |
| 2027-01-15 | 84 | 27.8% | ±10.9% |
| 2027-02-19 | 119 | 26.1% | ±12.0% |
| 2027-03-19 | 147 | 28.8% | ±14.9% |
| 2027-04-16 | 175 | 25.0% | ±13.9% |
| 2027-05-21 | 210 | 24.3% | ±14.7% |
| 2027-08-20 | 301 | 29.8% | ±20.7% |