Cibc World Market Inc. Invests $6.01 Million in Huntington Bancshares Incorporated $HBAN

Key Points

• CIBC World Markets acquired 338,916 Huntington Bancshares shares worth approximately $6.01 million in the second quarter. Institutional investors collectively own 80.72% of HBAN’s outstanding stock.
• Huntington reported quarterly earnings of $0.39 per share, matching estimates, while revenue of $2.86 billion exceeded expectations. The bank also declared a quarterly dividend of $0.155 per share, representing a 3.7% annualized yield.
• Analysts maintain a generally positive view, with HBAN carrying a “Moderate Buy” consensus rating and an average price target of $20.24 versus its recent price of $16.95. However, insiders sold substantially more shares than they purchased over the past three months.

Cibc World Market Inc. acquired a new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 338,916 shares of the bank's stock, valued at approximately $6,009,000.

Other institutional investors and hedge funds have also modified their holdings of the company. OMERS ADMINISTRATION Corp acquired a new stake in Huntington Bancshares during the second quarter worth approximately $16,579,000. Osmosis Investment Management UK Ltd acquired a new position in Huntington Bancshares in the 2nd quarter valued at $1,389,000. Sanctuary Advisors LLC acquired a new position in Huntington Bancshares in the 2nd quarter valued at $2,996,000. Saranac Partners Ltd purchased a new position in shares of Huntington Bancshares during the 2nd quarter worth $7,175,000. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Huntington Bancshares during the 2nd quarter worth $1,122,000. Hedge funds and other institutional investors own 80.72% of the company's stock.

Insider Activity

In related news, insider Kendall A. Kowalski sold 27,971 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $17.20, for a total value of $481,101.20. Following the transaction, the insider owned 70,025 shares in the company, valued at approximately $1,204,430. This trade represents a 28.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James D. Rollins III sold 223,522 shares of Huntington Bancshares stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the transaction, the director directly owned 612,155 shares in the company, valued at approximately $10,620,889.25. This trade represents a 26.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have bought 22,000 shares of company stock valued at $401,219 and have sold 262,061 shares valued at $4,549,432. Corporate insiders own 0.67% of the company's stock.

Huntington Bancshares Trading Down 0.5%

HBAN stock opened at $16.95 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.63. The company has a market cap of $34.25 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 0.81 and a beta of 0.94. The business has a fifty day simple moving average of $17.58 and a 200-day simple moving average of $16.85. Huntington Bancshares Incorporated has a 52 week low of $14.89 and a 52 week high of $19.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its earnings results on Thursday, July 23rd. The bank reported $0.39 earnings per share for the quarter, meeting analysts' consensus estimates of $0.39. Huntington Bancshares had a return on equity of 11.19% and a net margin of 16.64%.The firm had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.84 billion. During the same quarter last year, the firm earned $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. On average, equities research analysts expect that Huntington Bancshares Incorporated will post 1.61 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 17th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Thursday, September 17th. Huntington Bancshares's payout ratio is currently 48.06%.

Analyst Ratings Changes

A number of brokerages have recently commented on HBAN. Evercore reaffirmed an "outperform" rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research report on Monday, July 6th. Bank of America reiterated a "neutral" rating and set a $18.50 target price (down from $20.00) on shares of Huntington Bancshares in a research report on Monday, July 27th. Jefferies Financial Group set a $18.00 price target on Huntington Bancshares in a research note on Thursday, July 23rd. Robert W. Baird lifted their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $21.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Huntington Bancshares has an average rating of "Moderate Buy" and an average price target of $20.24.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated NASDAQ: HBAN is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company's operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington's product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.

Want to see what other hedge funds are holding HBAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source