Cubist Systematic Strategies LLC Buys 303,182 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Cubist Systematic Strategies LLC boosted its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 187.4% during the 1st quarter, Holdings Channel reports. The firm owned 464,967 shares of the bank’s stock after buying an additional 303,182 shares during the period. Cubist Systematic Strategies LLC’s holdings in Huntington Bancshares were worth $7,309,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of HBAN. BlackRock Inc. increased its stake in Huntington Bancshares by 5.2% in the 1st quarter. BlackRock Inc. now owns 87,964,831 shares of the bank’s stock worth $1,382,807,000 after acquiring an additional 4,318,577 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Huntington Bancshares by 149.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 59,570,115 shares of the bank’s stock worth $936,442,000 after acquiring an additional 35,731,508 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Huntington Bancshares by 10.9% in the 4th quarter. JPMorgan Chase & Co. now owns 31,598,310 shares of the bank’s stock worth $399,088,000 after acquiring an additional 3,097,955 shares in the last quarter. Geode Capital Management LLC increased its position in Huntington Bancshares by 1.9% during the 1st quarter. Geode Capital Management LLC now owns 18,502,267 shares of the bank’s stock valued at $290,258,000 after buying an additional 343,353 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Huntington Bancshares by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,157,963 shares of the bank’s stock valued at $191,441,000 after buying an additional 105,895 shares in the last quarter. 79.59% of the stock is currently owned by institutional investors.

In other Huntington Bancshares news, EVP Sandra E. Pierce sold 85,986 shares of the company’s stock in a transaction dated Tuesday, June 1st. The shares were sold at an average price of $16.00, for a total value of $1,375,776.00. Following the completion of the transaction, the executive vice president now directly owns 435,063 shares of the company’s stock, valued at approximately $6,961,008. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Scott D. Kleinman sold 6,225 shares of the stock in a transaction dated Thursday, May 6th. The stock was sold at an average price of $15.56, for a total transaction of $96,861.00. Following the transaction, the executive vice president now directly owns 212,853 shares in the company, valued at approximately $3,311,992.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 121,390 shares of company stock valued at $1,924,912. Insiders own 1.04% of the company’s stock.

Several analysts have weighed in on HBAN shares. Raymond James upgraded Huntington Bancshares from an “outperform” rating to a “strong-buy” rating and set a $18.00 price target on the stock in a research note on Wednesday, June 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of Huntington Bancshares in a research report on Wednesday, July 7th. Stephens increased their target price on Huntington Bancshares from $14.00 to $17.50 and gave the company an “equal weight” rating in a report on Tuesday, March 30th. Deutsche Bank Aktiengesellschaft increased their target price on Huntington Bancshares from $14.00 to $16.00 and gave the company a “hold” rating in a report on Thursday, April 1st. Finally, Barclays increased their price target on Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Wednesday, April 7th. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Huntington Bancshares has a consensus rating of “Buy” and a consensus target price of $15.45.

Shares of NASDAQ:HBAN opened at $14.05 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.87 and a quick ratio of 0.85. Huntington Bancshares Incorporated has a 12 month low of $8.52 and a 12 month high of $16.91. The stock has a market cap of $14.30 billion, a price-to-earnings ratio of 11.94 and a beta of 1.32. The stock’s 50 day moving average price is $14.71.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Wednesday, April 21st. The bank reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.16. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.22 billion. Huntington Bancshares had a return on equity of 12.08% and a net margin of 25.18%. Huntington Bancshares’s revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.03 EPS. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.49 EPS for the current year.

About Huntington Bancshares

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio, with $123 billion of assets and a network of 839 branches, including 11 Private Client Group offices, and 1,322 ATMs across seven Midwestern states. Founded in 1866, The Huntington National Bank and its affiliates provide consumer, small business, commercial, treasury management, wealth management, brokerage, trust, and insurance services.

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Institutional Ownership by Quarter for Huntington Bancshares (NASDAQ:HBAN)

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