Curi RMB Capital LLC Buys 101,478 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Curi RMB Capital LLC grew its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 19.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 619,981 shares of the bank’s stock after buying an additional 101,478 shares during the period. Curi RMB Capital LLC’s holdings in Huntington Bancshares were worth $10,087,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Citigroup reduced their target price on Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Robert W. Baird upgraded shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price objective on the stock in a report on Friday, March 7th. Morgan Stanley reduced their price objective on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Piper Sandler lowered 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, Baird R W raised shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.94.

Insiders Place Their Bets

In other news, CFO Zachary Jacob Wasserman sold 38,451 shares of Huntington Bancshares stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total value of $552,925.38. Following the completion of the transaction, the chief financial officer now directly owns 335,538 shares in the company, valued at approximately $4,825,036.44. The trade was a 10.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brendan A. Lawlor sold 3,521 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the transaction, the vice president now owns 47,950 shares of the company’s stock, valued at approximately $731,237.50. This represents a 6.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,781 shares of company stock worth $1,631,151 over the last quarter. 0.89% of the stock is currently owned by company insiders.

Huntington Bancshares Price Performance

HBAN opened at $13.66 on Friday. The firm has a market cap of $19.96 billion, a P/E ratio of 11.11, a PEG ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares Incorporated has a fifty-two week low of $11.92 and a fifty-two week high of $18.45. The firm has a 50-day moving average of $14.86 and a 200 day moving average of $16.01.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. 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, research analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.54%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.33%.

Huntington Bancshares announced that its Board of Directors has initiated a share 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 buy up to 5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

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.