Cim Investment Mangement Stake in Huntington Bancshares (HBAN) Trimmed as Market Valuation Declined; As Signature Bk New York N Y (SBNY) Share Price Declined, Holder Cipher Capital LP Boosted Stake

June 14, 2018 - By Clifton Ray

Huntington Bancshares Incorporated (NASDAQ:HBAN) Logo

Cipher Capital Lp increased its stake in Signature Bk New York N Y (SBNY) by 10.31% based on its latest 2018Q1 regulatory filing with the SEC. Cipher Capital Lp bought 2,199 shares as the company’s stock declined 15.57% with the market. The hedge fund held 23,533 shares of the major banks company at the end of 2018Q1, valued at $3.34M, up from 21,334 at the end of the previous reported quarter. Cipher Capital Lp who had been investing in Signature Bk New York N Y for a number of months, seems to be bullish on the $6.78 billion market cap company. The stock increased 0.06% or $0.08 during the last trading session, reaching $126.35. About 526,148 shares traded or 12.85% up from the average. Signature Bank (NASDAQ:SBNY) has declined 9.96% since June 14, 2017 and is downtrending. It has underperformed by 22.53% the S&P500.

Cim Investment Mangement Inc decreased its stake in Huntington Bancshares Inc (HBAN) by 49.74% based on its latest 2018Q1 regulatory filing with the SEC. Cim Investment Mangement Inc sold 36,108 shares as the company’s stock declined 5.80% with the market. The institutional investor held 36,490 shares of the major banks company at the end of 2018Q1, valued at $551,000, down from 72,598 at the end of the previous reported quarter. Cim Investment Mangement Inc who had been investing in Huntington Bancshares Inc for a number of months, seems to be less bullish one the $17.02 billion market cap company. The stock decreased 0.96% or $0.15 during the last trading session, reaching $15.4. About 6.14M shares traded. Huntington Bancshares Incorporated (NASDAQ:HBAN) has risen 17.33% since June 14, 2017 and is uptrending. It has outperformed by 4.76% the S&P500. Some Historical HBAN News: 27/04/2018 – S&P: Huntington Bancshares Rating Reflects Noncomplex Operating Model; 27/04/2018 – S&PGR Upgrades Huntington Bancshares To ‘BBB+’; Otlk Stable; 23/05/2018 – Huntington Banc Presenting at Deutsche Bank Conference May 30; 24/04/2018 – HUNTINGTON BANC 1Q EPS 28C, EST. 28C; 30/05/2018 – Huntington Bank 2017 Environmental, Social and Governance Report Benchmarks Corporate Social Responsibility Performance; 24/04/2018 – HBAN 1Q PROVISION FOR CREDIT LOSSES $66M, EST. $57.0M; 29/05/2018 – Huntington Banc Presenting at Deutsche Bank Conference Tomorrow; 24/04/2018 – HUNTINGTON BANC 1Q EPS 28C; 27/04/2018 – S&P REVISES HUNTINGTON NATIONAL BANK TO RATING ‘A-‘ FROM ‘BBB+’; 10/05/2018 – S&PGR Raises 2 Huntington National Bank-Related Ratings

Cipher Capital Lp, which manages about $339.00M and $825.71 million US Long portfolio, decreased its stake in Lowes Cos Inc (NYSE:LOW) by 82,677 shares to 2,363 shares, valued at $208,000 in 2018Q1, according to the filing. It also reduced its holding in Zynga Inc (NASDAQ:ZNGA) by 139,966 shares in the quarter, leaving it with 355,647 shares, and cut its stake in Box Inc.

Among 24 analysts covering Signature Bank (NASDAQ:SBNY), 18 have Buy rating, 0 Sell and 6 Hold. Therefore 75% are positive. Signature Bank had 77 analyst reports since July 22, 2015 according to SRatingsIntel. Keefe Bruyette & Woods maintained Signature Bank (NASDAQ:SBNY) on Tuesday, October 3 with “Buy” rating. The stock of Signature Bank (NASDAQ:SBNY) earned “Hold” rating by Piper Jaffray on Friday, April 20. The rating was downgraded by Raymond James on Thursday, December 17 to “Outperform”. Jefferies maintained it with “Buy” rating and $169.0 target in Sunday, August 27 report. Barclays Capital maintained Signature Bank (NASDAQ:SBNY) rating on Friday, October 20. Barclays Capital has “Overweight” rating and $145 target. The stock of Signature Bank (NASDAQ:SBNY) has “Outperform” rating given on Friday, October 21 by FBR Capital. The rating was maintained by Piper Jaffray with “Hold” on Thursday, January 18. Barclays Capital maintained Signature Bank (NASDAQ:SBNY) on Tuesday, January 2 with “Buy” rating. Merion Capital Group reinitiated Signature Bank (NASDAQ:SBNY) on Friday, April 1 with “Outperform” rating. Keefe Bruyette & Woods maintained it with “Buy” rating and $180.0 target in Thursday, January 18 report.

More recent Signature Bank (NASDAQ:SBNY) news were published by: 247Wallst.com which released: “Top Analyst Upgrades and Downgrades: Applied Materials, Comcast, HUYA, Sprint, Time Warner, Yelp and More” on June 13, 2018. Also Benzinga.com published the news titled: “Benzinga’s Top Upgrades, Downgrades For June 13, 2018” on June 13, 2018. Businesswire.com‘s news article titled: “Signature Bank to Present at the 2018 Morgan Stanley Financials Conference” with publication date: June 11, 2018 was also an interesting one.

Investors sentiment increased to 1.35 in Q1 2018. Its up 0.13, from 1.22 in 2017Q4. It increased, as 33 investors sold HBAN shares while 163 reduced holdings. 86 funds opened positions while 178 raised stakes. 802.30 million shares or 1.72% more from 788.75 million shares in 2017Q4 were reported. Capital Ca owns 130,725 shares for 0.29% of their portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) holds 0.16% or 1.19 million shares in its portfolio. Tokio Marine Asset Management holds 60,240 shares or 0.16% of its portfolio. Endurance Wealth Mngmt Incorporated owns 827,950 shares for 2.1% of their portfolio. Farmers And Merchants Invs has 13,455 shares. Bridgewater Limited Partnership stated it has 63,352 shares. Los Angeles Management & Equity Research Incorporated holds 0.03% of its portfolio in Huntington Bancshares Incorporated (NASDAQ:HBAN) for 332,780 shares. Earnest Ptnrs Ltd Co stated it has 0% of its portfolio in Huntington Bancshares Incorporated (NASDAQ:HBAN). Legal And General Gru Public Limited, United Kingdom-based fund reported 5.09 million shares. Rafferty Asset Ltd Liability Corporation accumulated 0.07% or 307,826 shares. Systematic Finance Mgmt LP has 30,200 shares. Zeke Capital Advisors Lc owns 21,101 shares. Millennium Limited Liability Co invested 0.12% of its portfolio in Huntington Bancshares Incorporated (NASDAQ:HBAN). Comml Bank Of America De owns 13.15M shares for 0.03% of their portfolio. Td Asset Mgmt invested 0.01% of its portfolio in Huntington Bancshares Incorporated (NASDAQ:HBAN).

Cim Investment Mangement Inc, which manages about $1.03B and $293.74M US Long portfolio, upped its stake in Goodyear Tires (NASDAQ:GT) by 12,139 shares to 26,215 shares, valued at $697,000 in 2018Q1, according to the filing. It also increased its holding in Ishares S&P Midcap 400 (IJH) by 2,375 shares in the quarter, for a total of 76,529 shares, and has risen its stake in Nuvasive Inc (NASDAQ:NUVA).

Analysts await Huntington Bancshares Incorporated (NASDAQ:HBAN) to report earnings on July, 20. They expect $0.29 EPS, up 11.54% or $0.03 from last year’s $0.26 per share. HBAN’s profit will be $320.45 million for 13.28 P/E if the $0.29 EPS becomes a reality. After $0.28 actual EPS reported by Huntington Bancshares Incorporated for the previous quarter, Wall Street now forecasts 3.57% EPS growth.

Since May 4, 2018, it had 0 buys, and 4 insider sales for $1.77 million activity. $28,460 worth of Huntington Bancshares Incorporated (NASDAQ:HBAN) was sold by Maloney Nancy E on Friday, May 4. Shares for $380,817 were sold by Neumeyer Daniel J.. 28,251 shares valued at $431,675 were sold by Heller Paul G on Friday, May 18.

Huntington Bancshares Incorporated (NASDAQ:HBAN) Institutional Positions Chart

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