Cary Street Partners Investment Advisory LLC Decreases Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Cary Street Partners Investment Advisory LLC reduced its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 93.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,456 shares of the bank’s stock after selling 205,438 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Huntington Bancshares were worth $197,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Boston Partners increased its holdings in Huntington Bancshares by 33.0% in the 3rd quarter. Boston Partners now owns 29,277,030 shares of the bank’s stock worth $304,439,000 after buying an additional 7,271,405 shares during the period. Victory Capital Management Inc. increased its stake in shares of Huntington Bancshares by 23.7% in the third quarter. Victory Capital Management Inc. now owns 17,925,067 shares of the bank’s stock worth $186,421,000 after acquiring an additional 3,438,552 shares during the period. Qube Research & Technologies Ltd acquired a new stake in shares of Huntington Bancshares in the third quarter worth $20,004,000. AQR Capital Management LLC increased its stake in shares of Huntington Bancshares by 1,652.2% in the third quarter. AQR Capital Management LLC now owns 1,806,333 shares of the bank’s stock worth $18,786,000 after acquiring an additional 1,703,245 shares during the period. Finally, Barclays PLC increased its stake in shares of Huntington Bancshares by 31.6% in the third quarter. Barclays PLC now owns 5,395,974 shares of the bank’s stock worth $56,117,000 after acquiring an additional 1,296,978 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

HBAN has been the topic of a number of research reports. Bank of America upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Evercore ISI upped their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. UBS Group upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their price target for the company from $14.00 to $15.00 in a research note on Wednesday, February 14th. DA Davidson raised Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their price target for the stock from $14.00 to $15.50 in a report on Tuesday, February 27th. Finally, Royal Bank of Canada raised their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.17.

Huntington Bancshares Price Performance

NASDAQ:HBAN opened at $13.65 on Thursday. The stock has a 50 day moving average price of $13.39 and a 200 day moving average price of $12.33. The stock has a market cap of $19.77 billion, a PE ratio of 12.30, a P/E/G ratio of 2.49 and a beta of 1.09. 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 Incorporated has a one year low of $9.13 and a one year high of $14.07.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same quarter in the previous year, the firm earned $0.38 EPS. Equities research analysts expect that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend is Friday, June 14th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, VP Rajeev Syal sold 27,265 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $13.51, for a total value of $368,350.15. Following the transaction, the vice president now owns 397,173 shares of the company’s stock, valued at $5,365,807.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Rajeev Syal sold 27,265 shares of Huntington Bancshares stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $13.51, for a total value of $368,350.15. Following the completion of the sale, the vice president now owns 397,173 shares in the company, valued at approximately $5,365,807.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann B. Crane sold 58,000 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the transaction, the director now owns 192,247 shares in the company, valued at $2,603,024.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 196,754 shares of company stock worth $2,655,350. 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.