Cary Street Partners Asset Management LLC Boosts Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Cary Street Partners Asset Management LLC grew its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 190,992 shares of the bank’s stock after buying an additional 6,418 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in Huntington Bancshares were worth $2,429,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Wetzel Investment Advisors Inc. acquired a new position in Huntington Bancshares during the 4th quarter valued at about $29,000. Planned Solutions Inc. purchased a new position in Huntington Bancshares during the fourth quarter worth approximately $33,000. Authentikos Wealth Advisory LLC purchased a new position in Huntington Bancshares during the third quarter worth approximately $35,000. Baker Avenue Asset Management LP boosted its position in Huntington Bancshares by 31.8% during the third quarter. Baker Avenue Asset Management LP now owns 3,992 shares of the bank’s stock worth $42,000 after purchasing an additional 963 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of Huntington Bancshares by 184.0% in the fourth quarter. Allworth Financial LP now owns 4,007 shares of the bank’s stock valued at $51,000 after acquiring an additional 2,596 shares in the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Up 1.2 %

Shares of NASDAQ:HBAN traded up $0.16 on Wednesday, hitting $13.63. 5,692,733 shares of the company’s stock were exchanged, compared to its average volume of 17,453,463. The firm’s 50-day moving average is $13.39 and its 200 day moving average is $12.33. The company has a market capitalization of $19.74 billion, a PE ratio of 12.25, a P/E/G ratio of 2.51 and a beta of 1.11. Huntington Bancshares Incorporated has a 1-year low of $9.13 and a 1-year high of $14.07. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same period in the prior year, the firm earned $0.38 EPS. Sell-side analysts predict that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a $0.155 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.55%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. UBS Group raised Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their price target for the company from $14.00 to $15.00 in a report on Wednesday, February 14th. DA Davidson upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $14.00 to $15.50 in a report on Tuesday, February 27th. Barclays upgraded Huntington Bancshares from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $12.00 to $15.00 in a report on Tuesday, January 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $16.00 price objective on shares of Huntington Bancshares in a report on Monday, April 22nd. Finally, Stephens reiterated an “equal weight” rating and issued a $15.00 price objective on shares of Huntington Bancshares in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $15.17.

Insider Activity at Huntington Bancshares

In related news, VP Julie C. Tutkovics sold 15,541 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total value of $197,059.88. Following the completion of the sale, the vice president now directly owns 303,455 shares of the company’s stock, valued at approximately $3,847,809.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total transaction of $409,800.00. Following the completion of the sale, the chief financial officer now directly owns 305,884 shares of the company’s stock, valued at approximately $4,178,375.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Julie C. Tutkovics sold 15,541 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total value of $197,059.88. Following the sale, the vice president now directly owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The disclosure for this sale can be found here. Insiders sold a total of 169,489 shares of company stock valued at $2,286,999 in the last three months. 0.89% of the stock is currently owned by company insiders.

About Huntington Bancshares

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.