Cinctive Capital Management LP Purchases Shares of 525,175 Huntington Bancshares Incorporated (NASDAQ:HBAN)

Cinctive Capital Management LP acquired a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 525,175 shares of the bank’s stock, valued at approximately $8,545,000.

Several other large investors have also modified their holdings of the company. Creative Capital Management Investments LLC grew its position in shares of Huntington Bancshares by 17,533.3% in the fourth 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 last quarter. Y.D. More Investments Ltd increased its position in Huntington Bancshares by 126.8% in the 4th quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock worth $30,000 after buying an additional 1,023 shares during the period. Midwest Capital Advisors LLC bought a new stake in shares of Huntington Bancshares in the fourth quarter valued at approximately $37,000. Asset Dedication LLC increased its position in Huntington Bancshares by 70.0% during the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock worth $50,000 after acquiring an additional 1,260 shares during the period. Finally, Venturi Wealth Management LLC grew its position in Huntington Bancshares by 27.2% in the 4th quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock worth $53,000 after purchasing an additional 702 shares during the last quarter. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $14.95 on Wednesday. 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 52-week low of $12.05 and a 52-week high of $18.45. The business has a 50 day simple moving average of $15.99 and a 200 day simple moving average of $16.17. The stock has a market cap of $21.84 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 1.33 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, January 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%. During the same quarter last year, the business earned $0.27 EPS. Analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.15%. Huntington Bancshares’s payout ratio is presently 50.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on HBAN shares. Truist Financial increased their target price on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Barclays raised their price objective on Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Robert W. Baird upgraded Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price objective on the stock in a research report on Friday, March 7th. Stephens reaffirmed an “equal weight” rating and issued a $18.50 target price on shares of Huntington Bancshares in a research report on Friday, February 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.18.

Insider Activity at Huntington Bancshares

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

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.