Cinctive Capital Management LP Purchases 480,515 Shares of Huntington Bancshares Incorporated $HBAN

Cinctive Capital Management LP lifted its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 83.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,053,067 shares of the bank’s stock after acquiring an additional 480,515 shares during the quarter. Huntington Bancshares accounts for 1.0% of Cinctive Capital Management LP’s portfolio, making the stock its 18th largest position. Cinctive Capital Management LP owned about 0.07% of Huntington Bancshares worth $18,271,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Huntington Bancshares by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after acquiring an additional 14,338,222 shares during the last quarter. State Street Corp lifted its holdings in shares of Huntington Bancshares by 4.7% in the 4th quarter. State Street Corp now owns 77,228,656 shares of the bank’s stock worth $1,351,806,000 after acquiring an additional 3,438,501 shares during the last quarter. Boston Partners lifted its holdings in shares of Huntington Bancshares by 3.9% in the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock worth $1,091,615,000 after acquiring an additional 2,363,905 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Huntington Bancshares by 1.5% in the 3rd quarter. Invesco Ltd. now owns 59,062,922 shares of the bank’s stock worth $1,020,017,000 after acquiring an additional 861,263 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Huntington Bancshares by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 43,171,993 shares of the bank’s stock worth $746,257,000 after acquiring an additional 3,074,673 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HBAN. Morgan Stanley decreased their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Friday, April 24th. Royal Bank Of Canada reduced their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Jefferies Financial Group boosted their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, April 24th. Piper Sandler upgraded shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target for the company in a report on Thursday, April 23rd. Finally, Barclays lowered shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.05.

Insiders Place Their Bets

In other Huntington Bancshares news, Director James D. Rollins III sold 223,522 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the sale, the director owned 612,155 shares of the company’s stock, valued at approximately $10,620,889.25. The trade was a 26.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have purchased 33,500 shares of company stock worth $617,542. 0.67% of the stock is currently owned by insiders.

Huntington Bancshares Stock Down 2.7%

NASDAQ:HBAN opened at $16.85 on Thursday. The company has a market cap of $34.16 billion, a PE ratio of 12.96, a P/E/G ratio of 0.79 and a beta of 0.94. Huntington Bancshares Incorporated has a twelve month low of $14.89 and a twelve month high of $19.45. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. The company’s 50 day moving average is $16.37 and its two-hundred day moving average is $16.86.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.21. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $0.34 EPS. Analysts anticipate that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Dividend Announcement

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 given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares’s payout ratio is currently 47.69%.

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.