Entropy Technologies LP Makes New Investment in Huntington Bancshares Incorporated $HBAN

Entropy Technologies LP bought a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 170,685 shares of the bank’s stock, valued at approximately $2,861,000.

Several other institutional investors have also modified their holdings of the business. AQR Capital Management LLC lifted its holdings in Huntington Bancshares by 274.9% during the 1st quarter. AQR Capital Management LLC now owns 10,758,669 shares of the bank’s stock worth $157,292,000 after buying an additional 7,889,004 shares during the last quarter. Invesco Ltd. grew its stake in Huntington Bancshares by 8.7% during the 1st quarter. Invesco Ltd. now owns 57,186,593 shares of the bank’s stock worth $858,371,000 after buying an additional 4,586,607 shares during the last quarter. Amundi lifted its stake in Huntington Bancshares by 26.2% in the first quarter. Amundi now owns 22,011,639 shares of the bank’s stock valued at $330,395,000 after buying an additional 4,576,432 shares during the last quarter. Nuveen LLC acquired a new position in Huntington Bancshares during the 1st quarter valued at about $50,078,000. Finally, Deutsche Bank AG grew its holdings in Huntington Bancshares by 47.7% in the 1st quarter. Deutsche Bank AG now owns 8,870,393 shares of the bank’s stock worth $133,145,000 after buying an additional 2,865,727 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HBAN. Citigroup upped their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, September 19th. Jefferies Financial Group reduced their target price on Huntington Bancshares from $20.00 to $19.00 in a report on Monday, November 3rd. Wall Street Zen downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Huntington Bancshares in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “market perform” rating in a research note on Monday, October 20th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.66.

Huntington Bancshares Trading Up 3.7%

Shares of HBAN opened at $15.88 on Friday. Huntington Bancshares Incorporated has a 52-week low of $11.91 and a 52-week high of $18.44. The stock has a fifty day moving average price of $16.24 and a two-hundred day moving average price of $16.42. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.92. The company has a market cap of $23.18 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 0.66 and a beta of 1.01.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Wednesday, June 11th. The bank reported $0.28 earnings per share for the quarter. The company had revenue of $469.00 million during the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%. Analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 18th will be issued a $0.155 dividend. The ex-dividend date is Thursday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.9%. Huntington Bancshares’s dividend payout ratio (DPR) is 43.36%.

Insider Activity

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 6,416 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $15.65, for a total value of $100,410.40. Following the transaction, the executive vice president directly owned 252,305 shares of the company’s stock, valued at $3,948,573.25. This represents a 2.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John C. Inglis bought 6,506 shares of the stock in a transaction dated Tuesday, November 4th. The shares were purchased at an average price of $15.30 per share, for a total transaction of $99,541.80. Following the purchase, the director owned 89,831 shares of the company’s stock, valued at $1,374,414.30. This trade represents a 7.81% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.89% of the company’s stock.

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.