Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc reduced its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 571,328 shares of the bank's stock after selling 26,965 shares during the quarter. CIBC Asset Management Inc's holdings in Huntington Bancshares were worth $9,296,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Arvest Bank Trust Division purchased a new stake in shares of Huntington Bancshares during the third quarter worth approximately $2,381,000. Mediolanum International Funds Ltd purchased a new stake in shares of Huntington Bancshares during the fourth quarter worth approximately $422,000. Donoghue Forlines LLC acquired a new position in Huntington Bancshares during the fourth quarter worth $1,460,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Huntington Bancshares by 5.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank's stock worth $12,414,000 after buying an additional 44,662 shares during the last quarter. Finally, Petiole USA ltd acquired a new position in Huntington Bancshares during the third quarter worth $3,454,000. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on HBAN shares. Stephens reaffirmed an "equal weight" rating and issued a $18.50 price target on shares of Huntington Bancshares in a research note on Friday, February 7th. Evercore ISI upped 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. The Goldman Sachs Group upped their price target on Huntington Bancshares from $16.25 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Citigroup upped their price target on Huntington Bancshares from $18.00 to $21.00 and gave the company a "buy" rating in a research note on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods increased their target price on Huntington Bancshares from $16.00 to $19.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $18.06.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock traded down $0.27 during trading on Friday, reaching $16.15. The company's stock had a trading volume of 32,918,112 shares, compared to its average volume of 19,590,543. The business has a 50 day moving average price of $16.70 and a 200-day moving average price of $15.93. The company has a market capitalization of $23.48 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 1.36 and a beta of 1.07. Huntington Bancshares Incorporated has a 12-month low of $12.05 and a 12-month high of $18.44. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter in the previous year, the firm earned $0.27 earnings per share. As a group, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a $0.155 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.84%. Huntington Bancshares's dividend payout ratio (DPR) is 50.41%.

About Huntington Bancshares

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.