Huntington Bancshares Sees Unusually Large Options Volume (NASDAQ:HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) was the recipient of some unusual options trading on Tuesday. Traders bought 5,390 put options on the stock. This is an increase of approximately 129% compared to the average daily volume of 2,350 put options.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Brendan A. Lawlor sold 9,050 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $15.06, for a total value of $136,293.00. Following the completion of the transaction, the vice president now directly owns 11,111 shares of the company’s stock, valued at approximately $167,331.66. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Kendall A. Kowalski sold 5,747 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $14.98, for a total transaction of $86,090.06. Following the sale, the insider now owns 65,899 shares of the company’s stock, valued at approximately $987,167.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brendan A. Lawlor sold 9,050 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.06, for a total value of $136,293.00. Following the sale, the vice president now directly owns 11,111 shares in the company, valued at approximately $167,331.66. The disclosure for this sale can be found here. Insiders sold a total of 116,622 shares of company stock valued at $1,762,904 in the last quarter. Corporate insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC bought a new position in Huntington Bancshares during the 1st quarter worth approximately $29,000. Nemes Rush Group LLC increased its position in shares of Huntington Bancshares by 140.9% during the 4th quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,391 shares during the period. YHB Investment Advisors Inc. acquired a new position in shares of Huntington Bancshares in the 1st quarter worth $30,000. Hazlett Burt & Watson Inc. grew its holdings in shares of Huntington Bancshares by 695.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after acquiring an additional 2,003 shares during the last quarter. Finally, Register Financial Advisors LLC acquired a new stake in shares of Huntington Bancshares in the first quarter worth $40,000. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Down 1.3 %

NASDAQ:HBAN opened at $14.78 on Wednesday. Huntington Bancshares has a twelve month low of $9.25 and a twelve month high of $15.24. The company has a market cap of $21.47 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 3.05 and a beta of 1.06. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The stock has a fifty day simple moving average of $13.98 and a 200-day simple moving average of $13.60.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.02. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the prior year, the company posted $0.35 EPS. Analysts anticipate that Huntington Bancshares will post 1.19 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Tuesday, September 17th. Huntington Bancshares’s payout ratio is currently 55.86%.

Analysts Set New Price Targets

Several research firms have issued reports on HBAN. StockNews.com downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Monday. Morgan Stanley increased their target price on shares of Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Evercore ISI decreased their price target on Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Jefferies Financial Group cut their target price on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Finally, Piper Sandler increased their target price on shares of Huntington Bancshares from $11.50 to $13.50 and gave the stock an “underweight” rating in a report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.59.

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.