CIBC Asset Management Inc Buys 104,965 Shares of Huntington Bancshares Incorporated $HBAN

CIBC Asset Management Inc lifted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 24.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 533,005 shares of the bank’s stock after purchasing an additional 104,965 shares during the period. CIBC Asset Management Inc’s holdings in Huntington Bancshares were worth $9,248,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in HBAN. Palisade Asset Management LLC bought a new stake in Huntington Bancshares in the 3rd quarter valued at $26,000. South Plains Financial Inc. raised its stake in Huntington Bancshares by 116.3% in the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after acquiring an additional 826 shares during the period. Accredited Wealth Management LLC raised its stake in Huntington Bancshares by 374.5% in the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after acquiring an additional 1,322 shares during the period. AlphaCore Capital LLC bought a new stake in Huntington Bancshares in the 3rd quarter valued at $33,000. Finally, Quest 10 Wealth Builders Inc. raised its stake in Huntington Bancshares by 403.1% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 2,611 shares of the bank’s stock valued at $45,000 after acquiring an additional 2,092 shares during the period. Institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HBAN. Jefferies Financial Group increased their price target on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Wolfe Research dropped their price target on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Barclays lowered Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Wall Street Zen upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, The Goldman Sachs Group lowered their price objective on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. One equities 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.05.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $16.52 on Friday. The business’s 50-day moving average price is $16.14 and its 200-day moving average price is $16.78. Huntington Bancshares Incorporated has a 12 month low of $14.89 and a 12 month high of $19.45. The firm has a market capitalization of $33.49 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 0.75 and a beta of 0.94. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The firm had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period last year, the firm posted $0.34 earnings per share. Equities research analysts forecast that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is 47.69%.

Insider Transactions at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 65,530 shares of the firm’s stock in a transaction dated 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 directly owned 481,676 shares in the company, valued at $7,360,009.28. This trade represents a 11.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James D. Rollins III acquired 11,127 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were bought at an average price of $16.50 per share, with a total value of $183,595.50. Following the completion of the transaction, the director directly owned 11,127 shares of the company’s stock, valued at $183,595.50. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 34,627 shares of company stock worth $646,157 over the last ninety days. 0.67% of the stock is owned by insiders.

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.