Eurizon Capital SGR S.p.A. Buys New Holdings in Huntington Bancshares Incorporated $HBAN

Key Points

• Eurizon Capital SGR S.p.A. opened a new position in Huntington Bancshares, buying 2.16 million shares worth about $37.4 million in the fourth quarter.
• Huntington Bancshares recently reported better-than-expected quarterly results, with EPS of $0.37 versus $0.16 expected and revenue of $2.59 billion, and analysts now expect full-year EPS of 1.61.
• The bank announced a quarterly dividend of $0.155 per share, which annualizes to $0.62 and yields about 3.8%; meanwhile, analysts currently rate the stock a “Moderate Buy” with a consensus target price of $20.05.

Eurizon Capital SGR S.p.A. bought a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,158,194 shares of the bank's stock, valued at approximately $37,446,000. Eurizon Capital SGR S.p.A. owned approximately 0.14% of Huntington Bancshares at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Palisade Asset Management LLC acquired a new position in Huntington Bancshares during the third quarter worth $26,000. South Plains Financial Inc. raised its stake in Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank's stock worth $27,000 after acquiring an additional 826 shares in the last quarter. Accredited Wealth Management LLC raised its stake in Huntington Bancshares by 374.5% during the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank's stock worth $29,000 after acquiring an additional 1,322 shares in the last quarter. AlphaCore Capital LLC acquired a new position in Huntington Bancshares during the third quarter worth $33,000. Finally, Quest 10 Wealth Builders Inc. raised its stake in Huntington Bancshares by 403.1% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 2,611 shares of the bank's stock worth $45,000 after acquiring an additional 2,092 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Price Performance

Shares of HBAN stock opened at $16.36 on Friday. The stock has a 50-day moving average price of $16.05 and a 200 day moving average price of $16.77. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. The firm has a market cap of $33.16 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 0.75 and a beta of 0.96. Huntington Bancshares Incorporated has a 12 month low of $14.89 and a 12 month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.21. The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same period last year, the company earned $0.34 earnings per share. Research analysts expect that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Wednesday, June 17th. Huntington Bancshares's dividend payout ratio (DPR) is presently 47.69%.

Insider Buying and Selling

In related news, insider Prashant Nateri sold 10,171 shares of Huntington Bancshares stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $15.50, for a total value of $157,650.50. Following the completion of the sale, the insider directly owned 83,819 shares in the company, valued at $1,299,194.50. This trade represents a 10.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott D. Kleinman sold 65,530 shares of Huntington Bancshares stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $15.28, for a total value of $1,001,298.40. Following the completion of the sale, the vice president owned 481,676 shares of the company's stock, valued at approximately $7,360,009.28. The trade was a 11.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders bought a total of 18,127 shares of company stock worth $343,888 over the last three months. 0.67% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

HBAN has been the subject of several recent analyst reports. Piper Sandler upgraded Huntington Bancshares from a "strong sell" rating to a "hold" rating and set a $18.00 price objective for the company in a research note on Thursday, April 23rd. Wolfe Research dropped their price objective on Huntington Bancshares from $21.00 to $19.00 and set an "outperform" rating for the company in a research note on Wednesday, April 1st. JPMorgan Chase & Co. dropped their price objective on Huntington Bancshares from $19.00 to $18.50 and set an "overweight" rating for the company in a research note on Thursday, April 30th. Truist Financial dropped their price objective on Huntington Bancshares from $21.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, March 13th. Finally, National Bank Financial set a $21.00 price objective on Huntington Bancshares in a research note on Wednesday, February 4th. One equities research 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 given a Sell rating to the stock. Based on data from MarketBeat, Huntington Bancshares currently has an average 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.

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