CIBC Asset Management Inc boosted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 127.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 482,065 shares of the bank’s stock after buying an additional 270,239 shares during the period. CIBC Asset Management Inc’s holdings in Huntington Bancshares were worth $6,113,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Boston Partners increased its holdings in shares of Huntington Bancshares by 54.3% in the 4th quarter. Boston Partners now owns 49,450,631 shares of the bank’s stock valued at $589,451,000 after purchasing an additional 17,411,546 shares during the period. Norges Bank acquired a new position in shares of Huntington Bancshares in the 4th quarter valued at about $105,381,000. Bessemer Group Inc. increased its holdings in shares of Huntington Bancshares by 71,683.5% in the 4th quarter. Bessemer Group Inc. now owns 4,963,826 shares of the bank’s stock valued at $59,169,000 after purchasing an additional 4,956,911 shares during the period. BlackRock Inc. increased its holdings in shares of Huntington Bancshares by 6.3% in the 4th quarter. BlackRock Inc. now owns 73,785,659 shares of the bank’s stock valued at $879,523,000 after purchasing an additional 4,341,210 shares during the period. Finally, APG Asset Management N.V. increased its holdings in shares of Huntington Bancshares by 5,477.5% in the 4th quarter. APG Asset Management N.V. now owns 2,454,100 shares of the bank’s stock valued at $25,590,000 after purchasing an additional 2,410,100 shares during the period. Hedge funds and other institutional investors own 77.97% of the company’s stock.
HBAN has been the topic of a number of research reports. BidaskClub upgraded Huntington Bancshares from a “strong sell” rating to a “sell” rating in a report on Saturday, January 19th. Jefferies Financial Group downgraded Huntington Bancshares from a “buy” rating to a “hold” rating and set a $14.00 target price on the stock. in a report on Monday, January 28th. Vining Sparks reiterated a “buy” rating and issued a $18.00 target price on shares of Huntington Bancshares in a report on Thursday, January 24th. ValuEngine upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Finally, Zacks Investment Research upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Monday, May 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $16.10.
In related news, Director Kathleen H. Ransier sold 3,067 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $14.30, for a total value of $43,858.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark E. Thompson sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $13.97, for a total value of $279,400.00. The disclosure for this sale can be found here. In the last three months, insiders sold 41,453 shares of company stock valued at $581,030. 1.22% of the stock is currently owned by company insiders.
Shares of NASDAQ HBAN opened at $12.97 on Thursday. The company has a market capitalization of $13.57 billion, a P/E ratio of 10.81, a PEG ratio of 1.10 and a beta of 1.37. Huntington Bancshares Incorporated has a 52 week low of $11.12 and a 52 week high of $16.52. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.90 and a quick ratio of 0.89.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, April 25th. The bank reported $0.32 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.32. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Huntington Bancshares had a return on equity of 14.20% and a net margin of 26.24%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 EPS. As a group, equities analysts forecast that Huntington Bancshares Incorporated will post 1.32 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be paid a $0.14 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.56 annualized dividend and a dividend yield of 4.32%. Huntington Bancshares’s payout ratio is 46.67%.
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About Huntington Bancshares
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).
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