Huntington Bancshares Incorporated (NASDAQ:HBAN) Stake Lowered by Cibc World Markets Corp

Cibc World Markets Corp cut its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 18.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 229,199 shares of the bank’s stock after selling 52,005 shares during the quarter. Cibc World Markets Corp’s holdings in Huntington Bancshares were worth $3,729,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. State Street Corp boosted its position in shares of Huntington Bancshares by 10.3% during the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after buying an additional 7,439,909 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Huntington Bancshares by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank’s stock worth $1,056,353,000 after buying an additional 2,218,020 shares during the period. Geode Capital Management LLC boosted its position in shares of Huntington Bancshares by 1.3% during the third quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock worth $540,422,000 after buying an additional 473,893 shares during the period. FMR LLC boosted its position in shares of Huntington Bancshares by 16.8% during the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after buying an additional 3,410,597 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Huntington Bancshares by 7.4% during the fourth quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank’s stock worth $355,094,000 after buying an additional 1,506,606 shares during the period. 80.72% of the stock is owned by institutional investors.

Insider Transactions at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 69,088 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.67, for a total value of $1,013,520.96. Following the transaction, the vice president now directly owns 453,129 shares of the company’s stock, valued at approximately $6,647,402.43. This represents a 13.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total transaction of $552,925.38. Following the completion of the transaction, the chief financial officer now directly owns 335,538 shares in the company, valued at $4,825,036.44. This trade represents a 10.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $14.95 on Friday. The company’s fifty day moving average is $16.25 and its two-hundred day moving average is $16.11. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares Incorporated has a 12-month low of $12.05 and a 12-month high of $18.45. The company has a market cap of $21.84 billion, a P/E ratio of 12.15, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the company posted $0.27 EPS. Equities analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.41%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Morgan Stanley cut their target price on Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Baird R W upgraded Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Finally, Piper Sandler cut their target price on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.35.

Huntington Bancshares 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.