CIBC Asset Management Inc Has $1.56 Million Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)
CIBC Asset Management Inc boosted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.6% during the second quarter, Holdings Channel reports. The institutional investor owned 115,356 shares of the bank’s stock after buying an additional 1,788 shares during the period. CIBC Asset Management Inc’s holdings in Huntington Bancshares were worth $1,560,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Macquarie Group Ltd. raised its position in Huntington Bancshares by 285.6% in the fourth quarter. Macquarie Group Ltd. now owns 910,577 shares of the bank’s stock valued at $12,038,000 after buying an additional 674,424 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in Huntington Bancshares by 1.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 938,891 shares of the bank’s stock valued at $12,572,000 after buying an additional 12,355 shares in the last quarter. Raymond James Trust N.A. raised its position in Huntington Bancshares by 1.5% in the first quarter. Raymond James Trust N.A. now owns 22,088 shares of the bank’s stock valued at $296,000 after buying an additional 334 shares in the last quarter. Creative Planning raised its position in Huntington Bancshares by 5.9% in the first quarter. Creative Planning now owns 141,140 shares of the bank’s stock valued at $1,890,000 after buying an additional 7,882 shares in the last quarter. Finally, Gulf International Bank UK Ltd raised its position in Huntington Bancshares by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 332,423 shares of the bank’s stock valued at $4,451,000 after buying an additional 4,900 shares in the last quarter. 74.75% of the stock is currently owned by institutional investors and hedge funds.
Huntington Bancshares Incorporated (NASDAQ:HBAN) opened at 13.17 on Thursday. Huntington Bancshares Incorporated has a 52-week low of $9.40 and a 52-week high of $14.74. The company’s 50-day moving average is $13.37 and its 200-day moving average is $13.34. The firm has a market capitalization of $14.36 billion, a P/E ratio of 18.24 and a beta of 1.37.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.03. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the business earned $0.19 earnings per share. On average, analysts predict that Huntington Bancshares Incorporated will post $0.91 EPS for the current year.
Huntington Bancshares announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $308.00 million in shares. This repurchase authorization authorizes the bank to reacquire up to 2.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 18th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Friday, September 15th. Huntington Bancshares’s dividend payout ratio (DPR) is 46.38%.
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Several research firms have recently commented on HBAN. BidaskClub upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Deutsche Bank AG reiterated a “buy” rating on shares of Huntington Bancshares in a research note on Monday, July 3rd. Instinet reiterated a “buy” rating and set a $16.00 price objective (up from $15.00) on shares of Huntington Bancshares in a research note on Wednesday, July 12th. Morgan Stanley reiterated an “equal weight” rating and set a $14.25 price objective (up from $13.75) on shares of Huntington Bancshares in a research note on Friday, July 7th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $16.00 price objective on shares of Huntington Bancshares in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $14.90.
In related news, Director Richard W. Neu acquired 2,450 shares of Huntington Bancshares stock in a transaction that occurred on Friday, July 28th. The stock was purchased at an average price of $13.10 per share, for a total transaction of $32,095.00. Following the completion of the purchase, the director now directly owns 184,596 shares of the company’s stock, valued at $2,418,207.60. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Andrew J. Harmening acquired 15,490 shares of Huntington Bancshares stock in a transaction that occurred on Monday, May 15th. The stock was bought at an average price of $12.92 per share, with a total value of $200,130.80. Following the purchase, the executive vice president now directly owns 35,543 shares of the company’s stock, valued at $459,215.56. The disclosure for this purchase can be found here. Insiders purchased 67,940 shares of company stock valued at $852,226 in the last quarter. Company insiders own 1.30% of the company’s stock.
About Huntington Bancshares
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
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