Cwm LLC Grows Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Cwm LLC increased its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 65.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 225,078 shares of the bank’s stock after acquiring an additional 89,237 shares during the period. Cwm LLC’s holdings in Huntington Bancshares were worth $3,378,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Smallwood Wealth Investment Management LLC bought a new position in Huntington Bancshares in the first quarter worth approximately $29,000. LFA Lugano Financial Advisors SA purchased a new stake in Huntington Bancshares in the first quarter valued at $31,000. Golden State Wealth Management LLC boosted its holdings in Huntington Bancshares by 516.3% in the first quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank’s stock valued at $33,000 after purchasing an additional 1,869 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Huntington Bancshares during the 1st quarter worth about $39,000. Finally, TruNorth Capital Management LLC acquired a new position in shares of Huntington Bancshares during the 1st quarter worth about $40,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Up 2.0%

Shares of NASDAQ HBAN opened at $16.98 on Friday. Huntington Bancshares Incorporated has a 1 year low of $11.92 and a 1 year high of $18.45. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.90 and a quick ratio of 0.89. The company has a market capitalization of $24.80 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 1.24 and a beta of 0.93. The business has a 50-day moving average of $16.25 and a two-hundred day moving average of $15.72.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.44% and a net margin of 16.94%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the firm posted $0.27 EPS. On average, analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

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

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th were given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.65%. The ex-dividend date was Tuesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.33%.

Insiders Place Their Bets

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 59,060 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $14.36, for a total value of $848,101.60. Following the transaction, the chief financial officer directly owned 277,348 shares of the company’s stock, valued at $3,982,717.28. This trade represents a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kendall A. Kowalski sold 25,419 shares of the firm’s stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $13.68, for a total value of $347,731.92. Following the sale, the insider owned 70,281 shares of the company’s stock, valued at $961,444.08. This represents a 26.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 214,375 shares of company stock worth $3,049,277. Corporate insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

HBAN has been the subject of a number of research analyst reports. TD Cowen started coverage on shares of Huntington Bancshares in a research report on Thursday, May 15th. They set a “buy” rating and a $20.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.50 price objective on the stock in a research note on Thursday, April 24th. Argus set a $17.00 price target on shares of Huntington Bancshares in a report on Friday, April 25th. Citigroup lifted their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Finally, Stephens reissued an “equal weight” rating and set a $16.50 target price on shares of Huntington Bancshares in a research note on Monday, April 21st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus price target of $18.48.

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.