BW Gestao de Investimentos Ltda. Invests $17.70 Million in Huntington Bancshares Incorporated $HBAN

BW Gestao de Investimentos Ltda. bought a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,020,000 shares of the bank’s stock, valued at approximately $17,697,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Huntington Bancshares by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after purchasing an additional 14,338,222 shares during the last quarter. Boston Partners increased its position in shares of Huntington Bancshares by 3.9% in the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock worth $1,091,615,000 after purchasing an additional 2,363,905 shares during the last quarter. Invesco Ltd. increased its position in shares of Huntington Bancshares by 1.5% in the 3rd quarter. Invesco Ltd. now owns 59,062,922 shares of the bank’s stock worth $1,020,017,000 after purchasing an additional 861,263 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Huntington Bancshares by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 43,171,993 shares of the bank’s stock worth $746,257,000 after purchasing an additional 3,074,673 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Huntington Bancshares by 15.7% in the 3rd quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock worth $594,054,000 after purchasing an additional 4,640,302 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, Director James D. Rollins III bought 3,029 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was acquired at an average cost of $21.05 per share, with a total value of $63,760.45. Following the completion of the purchase, the director directly owned 9,500 shares in the company, valued at approximately $199,975. This trade represents a 46.81% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Prashant Nateri sold 10,171 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $15.50, for a total transaction of $157,650.50. Following the completion of the sale, the insider owned 83,819 shares of the company’s stock, valued at approximately $1,299,194.50. This trade represents a 10.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders acquired a total of 12,712 shares of company stock valued at $246,438 over the last ninety days. Insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

HBAN has been the subject of a number of recent research reports. Wolfe Research lowered their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Evercore lowered their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Monday, April 6th. Piper Sandler raised shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price objective for the company in a research report on Thursday, April 23rd. Barclays downgraded shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Finally, The Goldman Sachs Group lowered their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.05.

Huntington Bancshares Trading Down 3.2%

Shares of NASDAQ:HBAN opened at $15.83 on Tuesday. The company has a 50 day moving average of $16.06 and a 200-day moving average of $16.77. The firm has a market cap of $32.09 billion, a P/E ratio of 12.18, a P/E/G ratio of 0.75 and a beta of 0.94. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period in the prior year, the business earned $0.34 earnings per share. As a group, analysts anticipate that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.9%. Huntington Bancshares’s dividend payout ratio is currently 47.69%.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.