Cary Street Partners Investment Advisory LLC Raises Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Cary Street Partners Investment Advisory LLC grew its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 72.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,975 shares of the bank’s stock after acquiring an additional 15,094 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Huntington Bancshares were worth $388,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HBAN. Arcadia Investment Management Corp MI purchased a new position in Huntington Bancshares in the 1st quarter worth approximately $25,000. Clear Street Markets LLC increased its stake in shares of Huntington Bancshares by 81.6% in the first quarter. Clear Street Markets LLC now owns 2,831 shares of the bank’s stock worth $32,000 after buying an additional 1,272 shares during the period. Winch Advisory Services LLC raised its holdings in Huntington Bancshares by 313.4% during the 1st quarter. Winch Advisory Services LLC now owns 3,117 shares of the bank’s stock valued at $35,000 after buying an additional 2,363 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in Huntington Bancshares during the 1st quarter valued at $35,000. Finally, Quarry LP grew its holdings in Huntington Bancshares by 68.8% in the 1st quarter. Quarry LP now owns 3,777 shares of the bank’s stock worth $42,000 after acquiring an additional 1,539 shares during the last quarter. 78.68% of the stock is currently owned by institutional investors.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $11.07 on Tuesday. Huntington Bancshares Incorporated has a 1 year low of $9.13 and a 1 year high of $15.74. The firm’s 50-day moving average is $10.24 and its 200 day moving average is $10.72. The stock has a market cap of $16.03 billion, a price-to-earnings ratio of 7.33, a PEG ratio of 6.11 and a beta of 1.11. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.89 and a quick ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, October 20th. The bank reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. Huntington Bancshares had a net margin of 22.55% and a return on equity of 14.71%. The firm had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the prior year, the company posted $0.39 earnings per share. Sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.37 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 18th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 5.60%. The ex-dividend date is Friday, December 15th. Huntington Bancshares’s dividend payout ratio is currently 41.06%.

Insider Activity

In related news, insider Helga Houston sold 4,300 shares of Huntington Bancshares stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $10.46, for a total value of $44,978.00. Following the completion of the sale, the insider now directly owns 595,514 shares in the company, valued at approximately $6,229,076.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

HBAN has been the subject of a number of analyst reports. Raymond James dropped their target price on shares of Huntington Bancshares from $15.00 to $13.00 and set a “strong-buy” rating for the company in a report on Monday, October 23rd. The Goldman Sachs Group upped their target price on Huntington Bancshares from $12.00 to $13.50 and gave the company a “buy” rating in a report on Tuesday, July 25th. Stephens lifted their target price on shares of Huntington Bancshares from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Monday, July 24th. DA Davidson increased their price target on shares of Huntington Bancshares from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday, July 24th. Finally, Bank of America cut their price objective on Huntington Bancshares from $13.00 to $11.00 in a research report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.30.

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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).