BNP Paribas Financial Markets Buys 1,176,306 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

BNP Paribas Financial Markets grew its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 58.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,198,776 shares of the bank’s stock after acquiring an additional 1,176,306 shares during the period. BNP Paribas Financial Markets’ holdings in Huntington Bancshares were worth $47,022,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC increased its holdings in Huntington Bancshares by 16.8% during the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after acquiring an additional 3,410,597 shares during the period. Victory Capital Management Inc. grew its position in shares of Huntington Bancshares by 13.2% during the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after purchasing an additional 2,363,988 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Huntington Bancshares by 194.8% in the second quarter. Point72 Asset Management L.P. now owns 3,203,789 shares of the bank’s stock worth $42,226,000 after purchasing an additional 2,116,839 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Huntington Bancshares by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock valued at $921,778,000 after buying an additional 1,522,767 shares during the period. Finally, SG Americas Securities LLC grew its position in Huntington Bancshares by 531.0% during the second quarter. SG Americas Securities LLC now owns 1,150,690 shares of the bank’s stock worth $15,166,000 after buying an additional 968,331 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock opened at $18.00 on Friday. The firm has a market cap of $26.15 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 3.63 and a beta of 1.03. The company’s fifty day simple moving average is $15.93 and its two-hundred day simple moving average is $14.55. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. Huntington Bancshares Incorporated has a 12-month low of $10.73 and a 12-month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the business earned $0.36 EPS. As a group, equities analysts expect that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 59.62%.

Wall Street Analysts Forecast Growth

HBAN has been the topic of several recent analyst reports. Morgan Stanley raised their price target on Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, August 5th. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. DA Davidson increased their price target on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a report on Monday, October 21st. Barclays lifted their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Finally, Piper Sandler raised their price target on Huntington Bancshares from $14.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.62.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the transaction, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. The trade was a 5.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,699 shares of company stock valued at $757,356. 0.89% of the stock is currently owned by company insiders.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.