Huntington: CIO Sold at $17.20, Institutions Buy at $16.42
Three institutional investors disclosed new Huntington Bancshares positions within three days at $16.42, a price below the $17.20 level at which the bank's own CIO exited $474,204 in open-market share
Institutions Pile Into HBAN at 8.7x as NPLs Rise
NEW YORK, September 1 —
Huntington Bancshares Incorporated (HBAN) drew three institutional buyers in three days at a price its own Chief Information Officer had already abandoned. CIO Kendall Kowalski sold $474,204 in open-market shares at $17.20 on August 3; the stock now trades at $16.42, with rising non-performing loans explaining the gap and an 8.7x forward P/E supplying the bulls' case.
- Equitable Holdings disclosed a $1.09M position; Quantitative Investment Management bought 140,673 shares, both within the past three days.
- HBAN's trailing-twelve-month revenue grew 47.6% to $9.18 billion; the stock trades at 8.7x forward earnings against a $20.30 analyst target.
- The insider ledger shows $481,102 in open-market sales and $0 in purchases over the 90-day window.
Institutions See a Regional Bank on Sale
Equitable Holdings and Quantitative Investment Management both disclosed new HBAN positions this week. The value case: a $33.18 billion regional bank with $9.18 billion in trailing revenue, $3.06 billion in operating cash flow, and 47.6% revenue growth year-over-year, priced at just that multiple forward earnings against a $20.30 analyst consensus. The Huntington National Bank serves middle-market and commercial customers through equipment financing, asset-based lending, capital markets, and a consumer suite including 24-Hour Grace overdraft relief and Standby Cash. Three beats in four quarters back the thesis; a DCF calculator applied to trailing cash flows confirms the discount.
The Insider Ledger Tells a Different Story
The counter-argument sits in the Form 4 filings. CIO Kendall Kowalski sold 27,570 shares at $17.20 on August 3, an open-market exit that generated $474,204 and landed above where the stock now trades. No insider has bought a single share in the 90-day window; the ledger shows $481,102 in sales against $0 in purchases. That asymmetry alone does not define the company's credit outlook, but it sits alongside a separate bearish credit picture driven by rising non-performing loans. Institutions buying below $17.20 are implicitly arguing the CIO was wrong about the exit level, or wrong about the timing.
| Ticker | Mkt cap | Fwd P/E | 52-wk |
|---|---|---|---|
| HBAN | $33.2B | 8.7x | -5.6% |
| FITB | $48.1B | 10.7x | +18.0% |
| KEY | $22.6B | 9.9x | +14.0% |
| RF | $25.0B | 10.3x | +11.1% |
| PNC | $94.7B | 11.1x | +16.7% |
| ZION | $9.7B | 9.8x | +16.4% |
Non-Performing Loans Are the Swing Factor
The institutional buyers are arguing that non-performing loan deterioration is already reflected in HBAN's valuation. That bet resolves in Q3 results: if NPL ratios stabilize or improve, the $20.30 analyst target looks reachable from $16.42; if they worsen, the CIO's August 3 exit reads less like routine portfolio management and more like informed caution. Huntington's $16.61 billion cash position against $22.61 billion in total debt gives the balance sheet room to absorb moderate deterioration, but the key number to watch is the NPL trend, not headline EPS. Run the free Huntington Bancshares Incorporated deep-dive → for updated credit metrics.
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Frequently Asked Questions
Why are institutions buying Huntington Bancshares stock?
Equitable Holdings and Quantitative Investment Management both disclosed new Huntington Bancshares positions within the past three days, drawn to an 8.7x forward earnings multiple against a $20.30 analyst consensus. The $33.18 billion regional bank generated $3.06 billion in operating cash flow and grew trailing-twelve-month revenue 47.6% to $9.18 billion. Three earnings beats in four quarters supply an additional consistency argument.
Why did the Huntington Bancshares CIO sell shares?
CIO Kendall Kowalski sold 27,570 shares at $17.20 on August 3 in an open-market exit that generated $474,204, above the current share price of $16.42. The 90-day insider ledger shows $481,102 in total open-market sales and $0 in purchases. No insider has bought a single share in that window.
What is Huntington Bancshares' forward P/E ratio?
Huntington Bancshares trades at 8.7x forward earnings, with a current share price of $16.42 against a $20.30 analyst consensus price target. Trailing-twelve-month revenue grew 47.6% to $9.18 billion. The bank generated $3.06 billion in operating cash flow on a trailing basis.
What are Huntington Bancshares' non-performing loan risks?
Rising non-performing loans are the key bearish credit narrative sitting alongside the insider selling signal. Institutional buyers are betting that NPL deterioration is already reflected in the $16.42 share price. Q3 results are the primary test: if NPL ratios stabilize or improve, the $20.30 analyst target looks reachable from the current level.
What is Huntington Bancshares' cash and debt position?
Huntington Bancshares holds $16.61 billion in cash against $22.61 billion in total debt. The bank generates $3.06 billion in operating cash flow. That cash position provides balance sheet capacity to absorb moderate credit deterioration.
Three institutional investors disclosed new or expanded positions in Huntington Bancshares within the past three days, buying into a regional bank priced at 8.7x forward earnings with analysts pointing to $20.30 — yet non-performing loans are rising and the company's own CIO sold $481K in shares above the current price just four weeks ago. The institutions and the insider are on opposite sides of the trade.