Elizabeth Park Capital Advisors Ltd. Has $2.25 Million Stake in Huntington Bancshares Incorporated $HBAN

Key Points

• Elizabeth Park Capital Advisors Ltd. reduced its stake in Huntington Bancshares by 29%, owning 149,780 shares worth approximately $2.25 million, making it the firm's 28th largest holding.
• Huntington Bancshares' shares opened at $17.49, with a 12-month trading range of $11.91 to $18.44, and analysts have set an average price target of $18.68 for the stock.
• The company declared a quarterly dividend of $0.155, representing an annualized yield of 3.5%, with a payout ratio of 45.93%.

Elizabeth Park Capital Advisors Ltd. decreased its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 29.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 149,780 shares of the bank's stock after selling 61,220 shares during the quarter. Huntington Bancshares comprises 2.0% of Elizabeth Park Capital Advisors Ltd.'s investment portfolio, making the stock its 28th largest holding. Elizabeth Park Capital Advisors Ltd.'s holdings in Huntington Bancshares were worth $2,248,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HBAN. Invesco Ltd. lifted its stake in Huntington Bancshares by 8.7% in the first quarter. Invesco Ltd. now owns 57,186,593 shares of the bank's stock valued at $858,371,000 after acquiring an additional 4,586,607 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Huntington Bancshares by 126.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,048,773 shares of the bank's stock valued at $114,684,000 after acquiring an additional 3,938,769 shares during the last quarter. Nuveen LLC acquired a new stake in Huntington Bancshares in the first quarter valued at approximately $50,078,000. Deutsche Bank AG lifted its stake in Huntington Bancshares by 47.7% in the first quarter. Deutsche Bank AG now owns 8,870,393 shares of the bank's stock valued at $133,145,000 after acquiring an additional 2,865,727 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Huntington Bancshares by 18.4% in the fourth quarter. Northern Trust Corp now owns 14,422,723 shares of the bank's stock valued at $234,658,000 after acquiring an additional 2,241,926 shares during the last quarter. Institutional investors own 80.72% of the company's stock.

Huntington Bancshares Stock Up 1.2%

Shares of HBAN stock opened at $17.49 on Wednesday. Huntington Bancshares Incorporated has a 12 month low of $11.91 and a 12 month high of $18.44. The firm has a market cap of $25.51 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 0.89 and a beta of 0.93. The stock has a 50 day moving average of $16.70 and a 200-day moving average of $15.68. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio is presently 45.93%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 13,700 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $15.79, for a total transaction of $216,323.00. Following the completion of the transaction, the executive vice president directly owned 337,879 shares in the company, valued at $5,335,109.41. This represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.89% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on HBAN. Wolfe Research raised Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 target price for the company in a research report on Thursday, July 3rd. Citigroup upped their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. TD Cowen began coverage on Huntington Bancshares in a research report on Thursday, May 15th. They set a "buy" rating and a $20.00 target price for the company. Cowen began coverage on Huntington Bancshares in a research report on Wednesday, May 14th. They set a "buy" rating for the company. Finally, Jefferies Financial Group began coverage on Huntington Bancshares in a research report on Wednesday, May 21st. They set a "buy" rating and a $20.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Huntington Bancshares currently has an average rating of "Moderate Buy" and a consensus price target of $18.68.

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.

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