BNP Paribas Financial Markets Acquires 658,219 Shares of Huntington Bancshares Incorporated $HBAN

BNP Paribas Financial Markets grew its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 35.6% during the fourth quarter, Holdings Channel reports. The firm owned 2,508,294 shares of the bank’s stock after purchasing an additional 658,219 shares during the period. BNP Paribas Financial Markets’ holdings in Huntington Bancshares were worth $43,519,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Huntington Bancshares in the 4th quarter worth $432,584,000. Vanguard Group Inc. raised its holdings in 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 acquiring an additional 14,338,222 shares during the period. Junto Capital Management LP bought a new position in Huntington Bancshares in the 3rd quarter worth $85,690,000. Victory Capital Management Inc. raised its holdings in 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 acquiring an additional 4,640,302 shares during the period. Finally, Munich Reinsurance Co Stock Corp in Munich bought a new position in Huntington Bancshares in the 4th quarter worth $73,333,000. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $15.93 on Thursday. The firm’s 50-day moving average is $16.10 and its 200-day moving average is $16.78. Huntington Bancshares Incorporated has a 52-week low of $14.89 and a 52-week high of $19.45. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. The company has a market cap of $32.29 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 0.74 and a beta of 0.94.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the previous year, the firm posted $0.34 EPS. Equities research analysts anticipate that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

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

Insider Activity

In other news, VP Scott D. Kleinman sold 65,530 shares of Huntington Bancshares stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $15.28, for a total transaction of $1,001,298.40. Following the sale, the vice president directly owned 481,676 shares in the company, valued at approximately $7,360,009.28. The trade was a 11.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Prashant Nateri sold 10,171 shares of Huntington Bancshares stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $15.50, for a total transaction of $157,650.50. Following the sale, the insider owned 83,819 shares in the company, valued at approximately $1,299,194.50. This trade represents a 10.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have acquired 12,712 shares of company stock worth $246,438. Corporate insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on HBAN. Barclays downgraded shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Piper Sandler upgraded shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 target price on the stock in a report on Thursday, April 23rd. Royal Bank Of Canada dropped their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. DA Davidson dropped their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, March 16th. Finally, Evercore dropped their target price on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.05.

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.