Huntington Bancshares Incorporated (HBAN) Set To Acquire Units of Janney Montgomery Scott: Report

Huntington Bancshares Incorporated (NASDAQ:HBAN) is among the 13 Most Undervalued Stocks Under $20 to Buy. According to a Bloomberg report from November 7, the regional bank is set to acquire certain units of Janney Montgomery Scott, a wealth management and investment banking firm owned by KKR & Co.

While the financial aspects of the agreement were not disclosed, the report said that the company will be buying out Janney’s public finance group, M&A advisory business, and fixed-income sales and trading business.

People familiar with the matter said that the agreement was part of the bank’s quest to venture into new regions and businesses through acquisitions. The purchase of Janney’s units is anticipated to bolster Huntington Bancshares Incorporated (NASDAQ:HBAN)’s capital markets operations.

In related news, on October 27, Huntington Bancshares announced that it had reached an agreement to acquire Cadence Bank. This, coupled with the merger with Veritex Holdings Inc. earlier in the month, marked a major milestone for the company, helping it further expand its strategic presence in the South, most notably in Texas and Mississippi.

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a regional bank holding company headquartered in Columbus, Ohio, with a market capitalization of over $24 billion. It is the parent company of the Huntington National Bank.

While we acknowledge the potential of HBAN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: ChatGPT Stock Advice: Top 8 Defense Stocks and 10 Largest Defense Stocks in 2025.

Disclosure: None.