BW Gestao de Investimentos Ltda. Acquires Shares of 1,020,000 Huntington Bancshares Incorporated $HBAN

Key Points

• BW Gestao de Investimentos Ltda. disclosed a new fourth-quarter stake in Huntington Bancshares, buying 1,020,000 shares valued at about $17.7 million.
• Institutional ownership in HBAN remains very high, with hedge funds and other investors holding 80.72% of the stock; several large firms, including Vanguard and Norges Bank, also recently adjusted their positions.
• Huntington Bancshares posted better-than-expected quarterly earnings of $0.37 per share versus $0.16 expected, and it also announced a quarterly dividend of $0.155 per share, implying a 3.9% annualized yield.

BW Gestao de Investimentos Ltda. acquired a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,020,000 shares of the bank's stock, valued at approximately $17,697,000. BW Gestao de Investimentos Ltda. owned about 0.06% of Huntington Bancshares as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank acquired a new position in shares of Huntington Bancshares during the 4th quarter worth approximately $432,584,000. Vanguard Group Inc. boosted its holdings in shares of Huntington Bancshares by 8.1% during 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. Junto Capital Management LP acquired a new position in shares of Huntington Bancshares during the 3rd quarter worth approximately $85,690,000. Victory Capital Management Inc. boosted its holdings in shares of Huntington Bancshares by 15.7% during 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. Finally, Munich Reinsurance Co Stock Corp in Munich acquired a new position in shares of Huntington Bancshares during the 4th quarter worth approximately $73,333,000. Hedge funds and other institutional investors own 80.72% of the company's stock.

Insider Activity at Huntington Bancshares

In related news, insider Prashant Nateri sold 10,171 shares of Huntington Bancshares stock in a transaction 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 transaction, the insider owned 83,819 shares in the company, valued at approximately $1,299,194.50. The trade was a 10.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Scott D. Kleinman sold 65,530 shares of the business's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $15.28, for a total transaction of $1,001,298.40. Following the completion of the transaction, the vice president owned 481,676 shares in the company, valued at $7,360,009.28. This represents a 11.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have bought 12,712 shares of company stock worth $246,438. 0.67% of the stock is owned by insiders.

Huntington Bancshares Trading Down 3.2%

Shares of HBAN opened at $15.83 on Tuesday. The stock has a market cap of $32.09 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 0.75 and a beta of 0.94. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. Huntington Bancshares Incorporated has a 1-year low of $14.89 and a 1-year high of $19.45. The firm has a 50 day simple moving average of $16.06 and a 200-day simple moving average of $16.77.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $2.57 billion. During the same quarter last year, the business earned $0.34 EPS. Equities analysts forecast that Huntington Bancshares Incorporated will post 1.61 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.9%. Huntington Bancshares's dividend payout ratio (DPR) is presently 47.69%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Truist Financial decreased their price objective on Huntington Bancshares from $21.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, March 13th. Jefferies Financial Group boosted their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Morgan Stanley cut their target price on Huntington Bancshares from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Friday, April 24th. National Bank Financial set a $21.00 target price on Huntington Bancshares in a research report on Wednesday, February 4th. Finally, UBS Group set a $21.00 target price on Huntington Bancshares in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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