CIBC Asset Management Inc Buys 28,870 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

CIBC Asset Management Inc lifted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 598,293 shares of the bank's stock after buying an additional 28,870 shares during the quarter. CIBC Asset Management Inc's holdings in Huntington Bancshares were worth $8,795,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. OneDigital Investment Advisors LLC boosted its holdings in Huntington Bancshares by 2.8% during the third quarter. OneDigital Investment Advisors LLC now owns 41,971 shares of the bank's stock worth $617,000 after buying an additional 1,136 shares during the last quarter. Metis Global Partners LLC raised its position in shares of Huntington Bancshares by 1.1% in the 3rd quarter. Metis Global Partners LLC now owns 79,427 shares of the bank's stock valued at $1,168,000 after acquiring an additional 885 shares during the period. Curi RMB Capital LLC boosted its stake in Huntington Bancshares by 1.8% during the 3rd quarter. Curi RMB Capital LLC now owns 518,503 shares of the bank's stock worth $7,622,000 after acquiring an additional 9,375 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Huntington Bancshares by 15.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 13,487 shares of the bank's stock worth $198,000 after acquiring an additional 1,762 shares during the last quarter. Finally, Dillon & Associates Inc. grew its holdings in Huntington Bancshares by 5.9% during the third quarter. Dillon & Associates Inc. now owns 14,354 shares of the bank's stock valued at $215,000 after purchasing an additional 795 shares during the period. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Stock Performance

Huntington Bancshares stock traded up $0.16 during midday trading on Friday, hitting $17.69. The company's stock had a trading volume of 16,154,708 shares, compared to its average volume of 14,877,266. Huntington Bancshares Incorporated has a 1-year low of $10.73 and a 1-year high of $17.97. The company has a 50-day moving average price of $15.38 and a two-hundred day moving average price of $14.34. The company has a market cap of $25.70 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 3.53 and a beta of 1.03. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.03. The company 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 last year, the business earned $0.36 earnings per share. As a group, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.62 annualized dividend and a yield of 3.50%. Huntington Bancshares's dividend payout ratio is currently 59.62%.

Insiders Place Their Bets

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of the business's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the sale, the vice president now owns 496,076 shares of the company's stock, valued at approximately $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the transaction, the chief financial officer now owns 259,943 shares of the company's stock, valued at $4,582,795.09. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,699 shares of company stock worth $757,356 over the last three months. Insiders own 0.89% of the company's stock.

Analyst Ratings Changes

HBAN has been the subject of a number of research analyst reports. Barclays boosted their target price on Huntington Bancshares from $15.00 to $17.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. Baird R W cut Huntington Bancshares from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 26th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $17.00 price objective on shares of Huntington Bancshares in a research report on Friday, October 18th. DA Davidson upped 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. Finally, Sandler O'Neill restated a "buy" rating on shares of Huntington Bancshares in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $16.09.

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.