James D. Rollins III, who serves on the board of Huntington Bancshares Inc. (NASDAQ: HBAN), executed a set of purchases of the bank's preferred stock totaling $30,114 in early March 2026.
On March 6, 2026, Rollins acquired 85 shares of "Dep Shares-int in 4.50% Ser H Non-Cum Perp Pref Stk" at $17.65 per share. He followed up on March 9, 2026 with two additional buys of "Dep Shares-int in 6.875 % Ser J Non-Cum Perp Pref Stk," purchasing 1,091 shares at $25.39 per share and 36 shares at $25.38 per share.
These insider purchases were recorded while Huntington's common equity was trading at $16.12, representing a 7% decline year-to-date. Analysis from InvestingPro cited in company research finds the common shares appear undervalued relative to their Fair Value and notes a 3.85% dividend yield. The bank's dividend streak extends for 56 consecutive years, a figure highlighted in the InvestingPro Pro Research Report.
The transactions come amid material corporate developments for Huntington. The bank has completed its merger with Cadence Bank, expanding Huntington's footprint in Texas and the Southeast. As a result of the transaction, Huntington's assets have grown to approximately $279 billion, with $221 billion in deposits and $187 billion in loans. The merger added 390 branches, increasing the network to nearly 1,400 locations spanning 21 states.
Following the merger and related disclosures, several sell-side firms updated ratings and estimates. Evercore ISI initiated coverage with an Outperform rating and a $21.00 price target, citing the bank's larger scale in faster-growing markets. Morgan Stanley reiterated an Overweight rating and maintained Huntington as its Top Pick, even as the company revised earnings guidance. The bank's 2027 earnings per share guidance was adjusted to a range of $1.90-1.93, reflecting revised provisions for acquired assets and updated revenue targets. Truist Securities also reiterated a Buy rating while adjusting its EPS estimates for 2026 and 2027 to align with Huntington's updated guidance.
Collectively, the insider purchases and analyst activity highlight investor and management attention during a period of integration and guidance updates. The preference purchases themselves are limited in dollar size relative to the company's balance sheet expansion, while the analyst notes point to evolving expectations for earnings and scale following the Cadence combination.
Summary
Huntington director James D. Rollins III purchased $30,114 of preferred shares across three transactions in early March 2026 as the bank finalizes its Cadence Bank merger and several analysts refresh ratings and earnings guidance.
Key points
- Insider buying: Rollins purchased 85 Series H shares at $17.65 and 1,091 and 36 Series J shares at $25.39 and $25.38 respectively, totaling $30,114.
- M&A impact: Completion of the Cadence Bank merger increases Huntington's assets to about $279 billion and adds 390 branches, bringing the total to nearly 1,400 across 21 states.
- Analyst activity: Evercore ISI initiated Outperform with a $21.00 target; Morgan Stanley reiterated Overweight and Top Pick; Truist reiterated Buy and adjusted EPS estimates.
Risks and uncertainties
- Integration risk - The bank is integrating Cadence Bank, and execution on combining assets, deposits and loans could affect near-term performance.
- Guidance volatility - Huntington revised its 2027 EPS guidance to $1.90-1.93, indicating earnings targets and provisions for acquired assets remain subject to change.
- Market valuation - Common shares are trading below year-to-date levels and are described as appearing undervalued versus Fair Value, which may reflect market uncertainty or differing expectations among investors and analysts.