Huntington Bancshares Incorporated $HBAN Stake Lifted by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets boosted its Huntington Bancshares stake by 35.6% in the fourth quarter, ending with 2.51 million shares worth about $43.5 million.
• Huntington Bancshares beat Wall Street expectations in its latest quarterly results, reporting EPS of $0.37 versus $0.16 expected and revenue of $2.59 billion versus $2.57 billion expected.
• The bank also announced a quarterly dividend of $0.155 per share, implying an annualized yield of 3.9%; meanwhile, analysts broadly remain constructive with an average rating of Moderate Buy and a $20.05 price target.

BNP Paribas Financial Markets increased its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 35.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,508,294 shares of the bank's stock after acquiring an additional 658,219 shares during the period. BNP Paribas Financial Markets owned approximately 0.16% of Huntington Bancshares worth $43,519,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Palisade Asset Management LLC bought a new stake in Huntington Bancshares during the third quarter worth approximately $26,000. South Plains Financial Inc. boosted its holdings 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 buying an additional 826 shares in the last quarter. Accredited Wealth Management LLC boosted its holdings 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 buying an additional 1,322 shares in the last quarter. AlphaCore Capital LLC bought a new stake in Huntington Bancshares during the third quarter worth approximately $33,000. Finally, Quest 10 Wealth Builders Inc. boosted its holdings 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 buying an additional 2,092 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HBAN. The Goldman Sachs Group reduced their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating for the company in a report on Monday, April 6th. Evercore reduced their target price on shares of Huntington Bancshares from $21.00 to $19.00 and set an "outperform" rating for the company in a report on Monday, April 6th. Royal Bank Of Canada decreased their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set an "outperform" rating for the company in a research note on Tuesday, April 7th. Wolfe Research decreased 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 note on Wednesday, April 1st. Finally, Truist Financial decreased their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $20.05.

Huntington Bancshares Trading Down 1.8%

Shares of NASDAQ:HBAN opened at $15.93 on Thursday. The firm has a fifty day moving average of $16.10 and a two-hundred day moving average of $16.78. The firm has a market capitalization of $32.29 billion, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 0.74 and a beta of 0.94. Huntington Bancshares Incorporated has a 12-month low of $14.89 and a 12-month high of $19.45. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73.

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

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.9%. Huntington Bancshares's dividend payout ratio (DPR) is 47.69%.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares 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 completion of the sale, the insider owned 83,819 shares of the company's stock, valued at $1,299,194.50. This trade represents a 10.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James D. Rollins III bought 3,029 shares of the firm's stock in a transaction on Tuesday, April 28th. The shares were bought at an average cost of $21.05 per share, with a total value of $63,760.45. Following 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 disclosure for this purchase is available in the SEC filing. Insiders purchased 12,712 shares of company stock valued at $246,438 in the last quarter. Company insiders own 0.67% of the company's stock.

About Huntington Bancshares

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.