Cinctive Capital Management LP Sells 213,294 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• Cinctive Capital Management LP reduced its stake in Huntington Bancshares by 27.1%, selling 213,294 shares and ending the quarter with 572,552 shares valued at about $9.89 million.
• Huntington missed the quarter with $0.37 EPS vs. a $0.40 consensus and revenue of $1.61B vs. $2.21B, and announced a quarterly dividend of $0.155 (4.1% yield), ex-dividend March 18, payable April 1.
• Analysts give the stock a consensus rating of Moderate Buy with a $20.68 target, while the shares trade around $15.21 (12‑month range $11.91–$19.45), market cap ≈$30.9B and P/E ≈10.9.

Cinctive Capital Management LP decreased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 27.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 572,552 shares of the bank's stock after selling 213,294 shares during the quarter. Cinctive Capital Management LP's holdings in Huntington Bancshares were worth $9,888,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Empowered Funds LLC boosted its position in Huntington Bancshares by 5.0% during the 1st quarter. Empowered Funds LLC now owns 28,888 shares of the bank's stock worth $434,000 after buying an additional 1,366 shares during the period. Woodline Partners LP increased its position in Huntington Bancshares by 40.8% in the 1st quarter. Woodline Partners LP now owns 122,821 shares of the bank's stock valued at $1,844,000 after acquiring an additional 35,574 shares during the period. Allworth Financial LP increased its position in Huntington Bancshares by 315.0% in the 2nd quarter. Allworth Financial LP now owns 36,887 shares of the bank's stock valued at $618,000 after acquiring an additional 27,999 shares during the period. Vise Technologies Inc. bought a new position in shares of Huntington Bancshares during the second quarter valued at $392,000. Finally, National Pension Service raised its stake in shares of Huntington Bancshares by 0.6% during the second quarter. National Pension Service now owns 2,494,069 shares of the bank's stock valued at $41,801,000 after acquiring an additional 15,958 shares during the last quarter. Institutional investors own 80.72% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Jefferies Financial Group reduced their price objective on shares of Huntington Bancshares from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Thursday, March 5th. Keefe, Bruyette & Woods lowered their target price on Huntington Bancshares from $20.00 to $19.50 and set a "market perform" rating for the company in a research report on Friday, January 23rd. The Goldman Sachs Group reaffirmed a "buy" rating and set a $21.00 target price on shares of Huntington Bancshares in a report on Tuesday, January 6th. JPMorgan Chase & Co. upped their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Monday, February 9th. Finally, Raymond James Financial increased their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company a "strong-buy" rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $20.68.

Huntington Bancshares Trading Down 1.7%

HBAN opened at $15.21 on Friday. Huntington Bancshares Incorporated has a twelve month low of $11.91 and a twelve month high of $19.45. The company has a fifty day moving average of $17.53 and a 200-day moving average of $17.03. The stock has a market cap of $30.87 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 0.61 and a beta of 0.95. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.03). The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $2.21 billion. Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. During the same quarter in the previous year, the firm earned $0.34 EPS. On average, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, March 18th. Huntington Bancshares's payout ratio is currently 44.60%.

Insider Buying and Selling

In other Huntington Bancshares news, Director Gary Torgow bought 14,200 shares of the business's stock in a transaction that occurred on Thursday, February 19th. The shares were bought at an average price of $17.81 per share, for a total transaction of $252,902.00. Following the transaction, the director directly owned 943,341 shares in the company, valued at approximately $16,800,903.21. This trade represents a 1.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Amit Dhingra sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $18.50, for a total value of $185,000.00. Following the sale, the insider directly owned 155,634 shares of the company's stock, valued at $2,879,229. This represents a 6.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders acquired 27,700 shares of company stock worth $540,401 and sold 33,285 shares worth $627,009. 0.89% of the stock is owned by company insiders.

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.

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