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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 risk and potential of HBAN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HBAN and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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

Disclosure: None.

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Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

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  • 140 Metas
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  • 65 Microsofts
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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
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