CIBC Asset Management Inc Cuts Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

CIBC Asset Management Inc cut its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 571,328 shares of the bank’s stock after selling 26,965 shares during the period. CIBC Asset Management Inc’s holdings in Huntington Bancshares were worth $9,296,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp grew its position in Huntington Bancshares by 10.3% in the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after acquiring an additional 7,439,909 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Huntington Bancshares by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock worth $921,778,000 after acquiring an additional 1,522,767 shares in the last quarter. Geode Capital Management LLC boosted its position in Huntington Bancshares by 1.3% during the third quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock valued at $540,422,000 after buying an additional 473,893 shares during the period. FMR LLC boosted its position in Huntington Bancshares by 16.8% during the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock valued at $348,672,000 after buying an additional 3,410,597 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Huntington Bancshares by 13.2% during the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after buying an additional 2,363,988 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. The Goldman Sachs Group upped their price target on shares of Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Citigroup upped their price target on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Evercore ISI upped their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Stephens reaffirmed an “equal weight” rating and set a $18.50 price objective on shares of Huntington Bancshares in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.06.

Huntington Bancshares Price Performance

Shares of HBAN opened at $16.87 on Wednesday. The stock has a market cap of $24.51 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares Incorporated has a fifty-two week low of $12.05 and a fifty-two week high of $18.44. The firm’s 50-day simple moving average is $16.73 and its two-hundred day simple moving average is $15.92.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period in the previous year, the firm earned $0.27 EPS. Analysts anticipate that Huntington Bancshares Incorporated will post 1.4 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.41%.

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.