Cadence Bank Has $313,000 Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Cadence Bank lifted its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 15.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,269 shares of the bank’s stock after purchasing an additional 2,838 shares during the period. Cadence Bank’s holdings in Huntington Bancshares were worth $313,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in Huntington Bancshares by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock worth $921,778,000 after buying an additional 1,522,767 shares in the last quarter. Boston Partners raised its position in shares of Huntington Bancshares by 20.4% during the first quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock worth $783,215,000 after acquiring an additional 9,533,511 shares during the last quarter. FMR LLC lifted its stake in shares of Huntington Bancshares by 16.8% during the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock valued at $348,672,000 after acquiring an additional 3,410,597 shares during the period. Victory Capital Management Inc. boosted its holdings in Huntington Bancshares by 13.2% in the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after acquiring an additional 2,363,988 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Huntington Bancshares by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 15,810,239 shares of the bank’s stock worth $208,346,000 after purchasing an additional 561,565 shares during the period. 80.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HBAN. Sandler O’Neill restated a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 price objective on shares of Huntington Bancshares in a report on Friday, October 18th. The Goldman Sachs Group lifted their target price on shares of Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a report on Tuesday. Evercore ISI increased their price target on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, DA Davidson raised their price target on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.62.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $18.00 on Thursday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The firm has a market cap of $26.15 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 3.63 and a beta of 1.03. The stock’s 50-day moving average is $15.86 and its 200-day moving average is $14.53. Huntington Bancshares Incorporated has a one year low of $10.73 and a one year high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter in the previous year, the business posted $0.36 EPS. Equities analysts predict that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.44%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s payout ratio is 59.62%.

Insider Activity at Huntington Bancshares

In related news, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the sale, the insider now owns 558,342 shares in the company, valued at approximately $8,615,217.06. This represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,699 shares of company stock valued at $757,356. Corporate insiders own 0.92% of the company’s stock.

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.