Azimuth Capital Management LLC Holds Stake in Huntington Bancshares Incorporated (HBAN)

Azimuth Capital Management LLC continued to hold its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,764 shares of the bank’s stock at the end of the first quarter. Azimuth Capital Management LLC’s holdings in Huntington Bancshares were worth $412,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Commerzbank Aktiengesellschaft FI increased its stake in Huntington Bancshares by 21.6% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 32,555 shares of the bank’s stock valued at $430,000 after buying an additional 5,782 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Huntington Bancshares by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 62,185 shares of the bank’s stock valued at $822,000 after buying an additional 188 shares during the period. Baird Financial Group Inc. increased its stake in Huntington Bancshares by 1.1% in the fourth quarter. Baird Financial Group Inc. now owns 173,101 shares of the bank’s stock valued at $2,288,000 after buying an additional 1,802 shares during the period. Federated Investors Inc. PA increased its stake in Huntington Bancshares by 6.9% in the fourth quarter. Federated Investors Inc. PA now owns 81,540 shares of the bank’s stock valued at $1,079,000 after buying an additional 5,288 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Huntington Bancshares during the fourth quarter valued at about $6,184,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Institutional Ownership by Quarter for Huntington Bancshares (NASDAQ:HBAN)

Shares of Huntington Bancshares Incorporated (NASDAQ HBAN) traded down 0.15% during mid-day trading on Tuesday, hitting $13.30. The company had a trading volume of 2,500,159 shares. Huntington Bancshares Incorporated has a one year low of $8.05 and a one year high of $14.74. The company’s 50-day moving average is $12.90 and its 200 day moving average is $13.31. The company has a market capitalization of $14.46 billion, a PE ratio of 19.73 and a beta of 1.34.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Wednesday, April 19th. The bank reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. Huntington Bancshares had a net margin of 17.54% and a return on equity of 11.07%. Huntington Bancshares’s quarterly revenue was up 39.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 EPS. On average, equities research analysts forecast that Huntington Bancshares Incorporated will post $0.92 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Monday, June 19th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.40%. The ex-dividend date is Thursday, June 15th. Huntington Bancshares’s dividend payout ratio is 49.23%.

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HBAN has been the subject of several recent research reports. DA Davidson initiated coverage on Huntington Bancshares in a research note on Thursday, March 23rd. They issued a “buy” rating and a $16.50 price target for the company. Jefferies Group LLC upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and boosted their price target for the company from $14.00 to $16.00 in a research note on Monday, April 3rd. Keefe, Bruyette & Woods set a $14.00 price target on Huntington Bancshares and gave the company a “hold” rating in a research note on Monday, April 3rd. Zacks Investment Research upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Tuesday, April 11th. Finally, FBR & Co restated a “mkt perform” rating and issued a $14.00 price target (down from $15.00) on shares of Huntington Bancshares in a research note on Thursday, April 20th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Huntington Bancshares currently has a consensus rating of “Hold” and an average target price of $14.09.

In other Huntington Bancshares news, CEO Stephen D. Steinour acquired 50,000 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was bought at an average price of $12.40 per share, with a total value of $620,000.00. Following the completion of the purchase, the chief executive officer now owns 3,891,831 shares of the company’s stock, valued at $48,258,704.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Paul G. Heller sold 35,720 shares of Huntington Bancshares stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $12.93, for a total value of $461,859.60. Following the sale, the executive vice president now directly owns 443,883 shares of the company’s stock, valued at approximately $5,739,407.19. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

About Huntington Bancshares

Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:HBAN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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