Cinctive Capital Management LP Acquires New Shares in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Cinctive Capital Management LP bought a new position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in the 4th quarter, HoldingsChannel.com reports. The fund bought 525,175 shares of the bank’s stock, valued at approximately $8,545,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Creative Capital Management Investments LLC increased its position in Huntington Bancshares by 17,533.3% during the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock worth $26,000 after purchasing an additional 1,578 shares in the last quarter. Y.D. More Investments Ltd grew its stake in shares of Huntington Bancshares by 126.8% during the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock worth $30,000 after buying an additional 1,023 shares during the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Huntington Bancshares during the fourth quarter worth $37,000. Asset Dedication LLC lifted its stake in shares of Huntington Bancshares by 70.0% in the 4th quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock valued at $50,000 after acquiring an additional 1,260 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Huntington Bancshares by 27.2% during the 4th quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock valued at $53,000 after acquiring an additional 702 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Trading Down 0.4 %

Shares of HBAN stock opened at $14.95 on Wednesday. Huntington Bancshares Incorporated has a 52-week low of $12.05 and a 52-week high of $18.45. The business’s fifty day moving average is $15.99 and its 200 day moving average is $16.17. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The company has a market capitalization of $21.84 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter last year, the business earned $0.27 earnings per share. On average, equities research analysts anticipate 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 was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.15%. The ex-dividend date was Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

Analysts Set New Price Targets

A number of equities research analysts have commented on HBAN shares. Morgan Stanley reduced their price target on Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Baird R W upgraded shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Piper Sandler decreased their price objective on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a report on Tuesday, January 21st. Stephens reissued an “equal weight” rating and issued a $18.50 price target on shares of Huntington Bancshares in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $20.00 price objective (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and an average price target of $18.18.

Insider Buying and Selling

In other news, VP Brendan A. Lawlor sold 3,521 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $15.25, for a total value 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 trade represents a 6.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total transaction of $552,925.38. Following the sale, the chief financial officer now owns 335,538 shares of the company’s stock, valued at $4,825,036.44. This represents a 10.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,781 shares of company stock worth $1,631,151 in the last 90 days. 0.89% of the stock is owned by company insiders.

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.