CX Institutional Grows Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

CX Institutional grew its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,337 shares of the bank’s stock after buying an additional 1,145 shares during the quarter. CX Institutional’s holdings in Huntington Bancshares were worth $305,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in HBAN. Carlson Capital Management lifted its stake in Huntington Bancshares by 0.4% during the fourth quarter. Carlson Capital Management now owns 163,575 shares of the bank’s stock worth $2,661,000 after purchasing an additional 692 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Huntington Bancshares by 6.0% during the fourth quarter. Farther Finance Advisors LLC now owns 12,317 shares of the bank’s stock worth $200,000 after purchasing an additional 699 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Huntington Bancshares by 27.2% during the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock worth $53,000 after purchasing an additional 702 shares during the last quarter. CreativeOne Wealth LLC lifted its stake in Huntington Bancshares by 4.0% during the fourth quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank’s stock worth $326,000 after purchasing an additional 762 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC lifted its stake in Huntington Bancshares by 7.7% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 12,013 shares of the bank’s stock worth $195,000 after purchasing an additional 856 shares during the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HBAN has been the topic of several analyst reports. Raymond James reaffirmed a “strong-buy” rating and issued a $18.00 target price (down from $20.00) on shares of Huntington Bancshares in a research report on Monday, April 21st. TD Cowen initiated coverage on Huntington Bancshares in a research report on Thursday, May 15th. They issued a “buy” rating and a $20.00 target price on the stock. Robert W. Baird raised Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 target price on the stock in a research report on Friday, March 7th. Royal Bank of Canada dropped their target price on Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, April 21st. Finally, Cowen initiated coverage on Huntington Bancshares in a research report on Wednesday, May 14th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and an average price target of $18.08.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Brendan A. Lawlor sold 3,521 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $15.25, for a total transaction of $53,695.25. Following the transaction, the vice president now owns 47,950 shares in the company, valued at approximately $731,237.50. This represents a 6.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Brantley J. Standridge sold 70,417 shares of the business’s stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $13.69, for a total value of $964,008.73. Following the sale, the vice president now directly owns 326,456 shares of the company’s stock, valued at $4,469,182.64. This represents a 17.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 204,917 shares of company stock worth $2,897,659 in the last 90 days. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Trading Down 2.8%

Shares of HBAN stock opened at $15.51 on Friday. The firm has a market capitalization of $22.66 billion, a P/E ratio of 12.61, a P/E/G ratio of 1.33 and a beta of 0.92. Huntington Bancshares Incorporated has a twelve month low of $11.92 and a twelve month high of $18.45. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The stock’s fifty day simple moving average is $14.96 and its 200 day simple moving average is $15.76.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the company posted $0.27 EPS. As a group, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.00%. Huntington Bancshares’s payout ratio is 47.33%.

Huntington Bancshares announced that its board has initiated a stock repurchase program on Thursday, April 17th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Huntington Bancshares Company Profile

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.