Cibc World Market Inc. Has $2.98 Million Stake in Huntington Bancshares Incorporated $HBAN

Cibc World Market Inc. increased its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 204.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 172,580 shares of the bank’s stock after purchasing an additional 115,892 shares during the quarter. Cibc World Market Inc.’s holdings in Huntington Bancshares were worth $2,980,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Huntington Bancshares by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 176,300,218 shares of the bank’s stock valued at $2,954,792,000 after buying an additional 2,343,244 shares during the period. Boston Partners boosted its position in Huntington Bancshares by 4.8% during the second quarter. Boston Partners now owns 60,939,048 shares of the bank’s stock valued at $1,020,382,000 after purchasing an additional 2,776,429 shares during the last quarter. Invesco Ltd. grew its stake in Huntington Bancshares by 1.8% in the second quarter. Invesco Ltd. now owns 58,201,659 shares of the bank’s stock valued at $975,460,000 after purchasing an additional 1,015,066 shares in the last quarter. Geode Capital Management LLC increased its position in Huntington Bancshares by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 39,450,879 shares of the bank’s stock worth $658,541,000 after purchasing an additional 640,852 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Huntington Bancshares by 1.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 28,384,949 shares of the bank’s stock worth $475,558,000 after purchasing an additional 397,141 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HBAN has been the subject of several recent research reports. National Bank Financial set a $21.00 price target on Huntington Bancshares in a research note on Wednesday, February 4th. TD Cowen boosted their target price on shares of Huntington Bancshares from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Zacks Research downgraded shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. JPMorgan Chase & Co. upped their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Finally, Keefe, Bruyette & Woods cut their target price on Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating on the stock in a report on Friday, January 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.60.

Insider Transactions at Huntington Bancshares

In related news, VP Brantley J. Standridge sold 5,830 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $19.14, for a total transaction of $111,586.20. Following the transaction, the vice president directly owned 327,676 shares in the company, valued at $6,271,718.64. The trade was a 1.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kendall A. Kowalski sold 2,481 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $17.80, for a total value of $44,161.80. Following the completion of the transaction, the insider directly owned 71,566 shares of the company’s stock, valued at approximately $1,273,874.80. This trade represents a 3.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 114,732 shares of company stock worth $1,923,233. 0.89% of the stock is currently owned by insiders.

Huntington Bancshares Trading Down 0.4%

Shares of NASDAQ:HBAN opened at $17.26 on Monday. The company has a market cap of $27.18 billion, a P/E ratio of 12.42, a P/E/G ratio of 0.69 and a beta of 0.96. The stock’s 50-day moving average is $17.84 and its 200-day moving average is $17.00. Huntington Bancshares Incorporated has a 52-week low of $11.91 and a 52-week high of $19.45. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same period in the prior year, the firm posted $0.34 EPS. Equities research analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.6%. Huntington Bancshares’s payout ratio is 44.60%.

Huntington Bancshares 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.