Huntington Bancshares Incorporated $HBAN Shares Acquired by Cinctive Capital Management LP

Cinctive Capital Management LP raised its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 83.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,053,067 shares of the bank’s stock after acquiring an additional 480,515 shares during the period. Huntington Bancshares makes up about 1.0% of Cinctive Capital Management LP’s portfolio, making the stock its 18th biggest position. Cinctive Capital Management LP’s holdings in Huntington Bancshares were worth $18,271,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of HBAN. Palisade Asset Management LLC acquired a new stake in Huntington Bancshares during the 3rd quarter valued at approximately $26,000. South Plains Financial Inc. lifted its stake in Huntington Bancshares by 116.3% during the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after acquiring an additional 826 shares during the period. Accredited Wealth Management LLC lifted its stake in Huntington Bancshares by 374.5% during the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after acquiring an additional 1,322 shares during the period. AlphaCore Capital LLC acquired a new stake in Huntington Bancshares during the 3rd quarter valued at approximately $33,000. Finally, DV Equities LLC acquired a new stake in Huntington Bancshares during the 4th quarter valued at approximately $38,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $16.85 on Thursday. The firm has a 50-day simple moving average of $16.37 and a 200-day simple moving average of $16.86. The stock has a market capitalization of $34.16 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 0.79 and a beta of 0.94. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. The business had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same period in the prior year, the business earned $0.34 earnings per share. On average, equities analysts predict that Huntington Bancshares Incorporated will post 1.61 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.7%. Huntington Bancshares’s dividend payout ratio is currently 47.69%.

Wall Street Analyst Weigh In

Several brokerages have commented on HBAN. Wolfe Research decreased their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Wall Street Zen upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Evercore reiterated an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a research note on Friday, June 12th. Morgan Stanley decreased their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. Finally, Royal Bank Of Canada decreased their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.05.

Insider Activity

In other Huntington Bancshares news, Director James D. Rollins III sold 223,522 shares of Huntington Bancshares stock in a transaction on Friday, June 12th. The stock was sold at an average price of $17.35, for a total value of $3,878,106.70. Following the sale, the director owned 612,155 shares in the company, valued at $10,620,889.25. The trade was a 26.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought a total of 33,500 shares of company stock valued at $617,542 over the last ninety days. Corporate insiders own 0.67% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.