Cardinal Capital Management Has $2.78 Million Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Cardinal Capital Management lifted its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 183,604 shares of the bank’s stock after purchasing an additional 5,785 shares during the period. Cardinal Capital Management’s holdings in Huntington Bancshares were worth $2,784,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in Huntington Bancshares by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank’s stock worth $1,056,353,000 after acquiring an additional 2,218,020 shares during the last quarter. Invesco Ltd. increased its stake in Huntington Bancshares by 4.6% in the fourth quarter. Invesco Ltd. now owns 52,599,986 shares of the bank’s stock valued at $855,802,000 after acquiring an additional 2,310,502 shares during the period. FMR LLC increased its stake in Huntington Bancshares by 36.9% in the fourth quarter. FMR LLC now owns 32,479,039 shares of the bank’s stock valued at $528,434,000 after acquiring an additional 8,759,871 shares during the period. Victory Capital Management Inc. increased its stake in Huntington Bancshares by 7.4% in the fourth quarter. Victory Capital Management Inc. now owns 21,825,092 shares of the bank’s stock valued at $355,094,000 after acquiring an additional 1,506,606 shares during the period. Finally, Norges Bank bought a new stake in Huntington Bancshares in the fourth quarter valued at about $302,826,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on HBAN. Morgan Stanley decreased their price objective on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Raymond James reiterated a “strong-buy” rating and set a $18.00 target price (down from $20.00) on shares of Huntington Bancshares in a research report on Monday, April 21st. JPMorgan Chase & Co. cut their price objective on shares of Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. Royal Bank of Canada lowered their target price on shares of Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday, April 21st. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Huntington Bancshares from $18.00 to $17.00 and set a “market perform” rating for the company in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.08.

Huntington Bancshares Stock Up 1.2%

Huntington Bancshares stock opened at $15.70 on Tuesday. The company has a market cap of $22.93 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 1.33 and a beta of 0.92. Huntington Bancshares Incorporated has a 1-year low of $11.92 and a 1-year high of $18.45. The company has a fifty day simple moving average of $15.02 and a 200 day simple moving average of $15.73. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter last year, the company posted $0.27 earnings per share. Research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares’s dividend payout ratio is currently 47.33%.

Huntington Bancshares declared that its Board of Directors has approved a stock repurchase plan on Thursday, April 17th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the bank to purchase up to 5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 59,060 shares of Huntington Bancshares stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $14.36, for a total value of $848,101.60. Following the completion of the sale, the chief financial officer now owns 277,348 shares in the company, valued at $3,982,717.28. The trade was a 17.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marcy C. Hingst sold 13,700 shares of Huntington Bancshares stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $15.79, for a total transaction of $216,323.00. Following the completion of the sale, the executive vice president now owns 337,879 shares of the company’s stock, valued at $5,335,109.41. This trade represents a 3.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 218,617 shares of company stock worth $3,113,982. 0.89% of the stock is owned by insiders.

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.