Cary Street Partners Financial LLC Takes $3.56 Million Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Cary Street Partners Financial LLC bought a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 218,488 shares of the bank's stock, valued at approximately $3,555,000.

Several other institutional investors have also added to or reduced their stakes in the business. Franklin Resources Inc. raised its stake in shares of Huntington Bancshares by 3.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,797,771 shares of the bank's stock valued at $27,901,000 after purchasing an additional 55,602 shares during the period. Principal Financial Group Inc. boosted its holdings in Huntington Bancshares by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,743,357 shares of the bank's stock valued at $25,627,000 after purchasing an additional 112,146 shares during the period. Nordea Investment Management AB increased its holdings in shares of Huntington Bancshares by 9.0% in the fourth quarter. Nordea Investment Management AB now owns 129,989 shares of the bank's stock worth $2,127,000 after purchasing an additional 10,775 shares during the period. Neville Rodie & Shaw Inc. purchased a new stake in shares of Huntington Bancshares in the fourth quarter worth $179,000. Finally, Fortem Financial Group LLC boosted its stake in Huntington Bancshares by 3.3% during the fourth quarter. Fortem Financial Group LLC now owns 83,244 shares of the bank's stock valued at $1,354,000 after buying an additional 2,621 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 38,451 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total value of $552,925.38. Following the completion of the transaction, the chief financial officer now owns 335,538 shares of the company's stock, valued at approximately $4,825,036.44. This represents a 10.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Brendan A. Lawlor sold 3,521 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $15.25, for a total value of $53,695.25. Following the sale, the vice president now directly owns 47,950 shares in the company, valued at approximately $731,237.50. This represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 312,456 shares of company stock worth $4,464,105. Corporate insiders own 0.89% of the company's stock.

Wall Street Analysts Forecast Growth

HBAN has been the subject of several recent analyst reports. Robert W. Baird raised Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price objective for the company in a report on Friday, March 7th. Baird R W upgraded Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 7th. Morgan Stanley cut their target price on Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. JPMorgan Chase & Co. decreased their price target on shares of Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Finally, Deutsche Bank Aktiengesellschaft raised shares of Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 target price on the stock in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $17.45.

Huntington Bancshares Price Performance

Shares of HBAN remained flat at $15.22 during trading hours on Friday. The company had a trading volume of 18,130,466 shares, compared to its average volume of 17,546,714. The company has a market cap of $22.23 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a one year low of $11.92 and a one year high of $18.45. The firm has a 50 day moving average price of $14.35 and a two-hundred day moving average price of $15.95.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.89 billion. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter in the prior year, the firm earned $0.27 EPS. As a group, analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares announced that its Board of Directors has initiated a share repurchase plan on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 4.07%. Huntington Bancshares's dividend payout ratio is currently 47.33%.

Huntington Bancshares 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 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.