EntryPoint Capital LLC Decreases Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

EntryPoint Capital LLC lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 28.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,703 shares of the bank’s stock after selling 7,056 shares during the quarter. EntryPoint Capital LLC’s holdings in Huntington Bancshares were worth $288,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Arvest Bank Trust Division purchased a new stake in shares of Huntington Bancshares during the 3rd quarter valued at about $2,381,000. Mediolanum International Funds Ltd purchased a new stake in shares of Huntington Bancshares during the fourth quarter valued at approximately $422,000. Donoghue Forlines LLC acquired a new position in shares of Huntington Bancshares during the fourth quarter worth $1,460,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Huntington Bancshares by 5.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock valued at $12,414,000 after purchasing an additional 44,662 shares during the period. Finally, Franklin Resources Inc. grew its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HBAN. Truist Financial upped their price objective on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Morgan Stanley reduced their price target on Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Stephens restated an “equal weight” rating and set a $18.50 price objective on shares of Huntington Bancshares in a report on Friday, February 7th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $20.00 target price (up from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. Finally, Citigroup dropped their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.18.

Huntington Bancshares Stock Down 0.9 %

NASDAQ:HBAN opened at $15.12 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The stock has a 50 day moving average of $16.11 and a 200-day moving average of $16.13. The firm has a market capitalization of $22.09 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. Huntington Bancshares Incorporated has a 52 week low of $12.05 and a 52 week high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter in the prior year, the company posted $0.27 earnings per share. Analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s payout ratio is 50.41%.

Insiders Place Their Bets

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 38,451 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total transaction of $552,925.38. Following the completion of the transaction, the chief financial officer now owns 335,538 shares in the company, valued at approximately $4,825,036.44. The trade was a 10.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Brendan A. Lawlor sold 3,521 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $15.25, for a total value of $53,695.25. Following the transaction, the vice president now directly owns 47,950 shares in the company, valued at $731,237.50. This trade represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,060 shares of company stock worth $1,620,142. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Company 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.