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

CIBC Asset Management Inc decreased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.5% during the fourth quarter, HoldingsChannel reports. 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.

A number of other institutional investors have also recently made changes to their positions in HBAN. State Street Corp grew its holdings 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 valued at $1,179,319,000 after buying an additional 7,439,909 shares during the last quarter. FMR LLC grew its holdings 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 valued at $348,672,000 after buying an additional 3,410,597 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Huntington Bancshares by 13.2% in the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock worth $298,682,000 after purchasing an additional 2,363,988 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings 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 purchasing an additional 1,522,767 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in Huntington Bancshares by 37.4% in the third quarter. Point72 Asset Management L.P. now owns 4,402,801 shares of the bank’s stock worth $64,721,000 after purchasing an additional 1,199,012 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Up 0.9 %

Shares of HBAN stock opened at $16.87 on Wednesday. The company has a market capitalization of $24.51 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 1.41 and a beta of 1.07. Huntington Bancshares Incorporated has a one year low of $12.05 and a one year high of $18.44. The company’s fifty day moving average price is $16.73 and its 200-day moving average price is $15.92. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.34 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 business posted $0.27 EPS. Sell-side analysts expect that Huntington Bancshares Incorporated will post 1.4 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.67%. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on HBAN shares. Truist Financial raised their target price on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Keefe, Bruyette & Woods raised their target price on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a report on Tuesday, January 21st. Piper Sandler dropped their target price on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, January 21st. Finally, Evercore ISI raised their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.06.

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.