Traders Purchase High Volume of Put Options on Huntington Bancshares (NASDAQ:HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) saw some unusual options trading on Tuesday. Stock traders acquired 5,390 put options on the company. This is an increase of approximately 129% compared to the average volume of 2,350 put options.

Insider Activity

In other news, CFO Zachary Jacob Wasserman sold 33,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the transaction, the chief financial officer now directly owns 265,809 shares of the company’s stock, valued at $4,021,690.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total transaction of $871,685.55. Following the sale, the vice president now directly owns 69,595 shares of the company’s stock, valued at $1,054,364.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Zachary Jacob Wasserman sold 33,000 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the transaction, the chief financial officer now directly owns 265,809 shares in the company, valued at $4,021,690.17. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 116,622 shares of company stock valued at $1,762,904. 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 HBAN. Future Financial Wealth Managment LLC purchased a new stake in shares of Huntington Bancshares during the 1st quarter valued at approximately $29,000. Nemes Rush Group LLC boosted its position in 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 buying an additional 1,391 shares during the period. YHB Investment Advisors Inc. purchased a new stake in shares of Huntington Bancshares during the first quarter worth about $30,000. Hazlett Burt & Watson Inc. lifted its holdings in 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 buying an additional 2,003 shares during the period. Finally, Register Financial Advisors LLC bought a new stake in Huntington Bancshares in the first quarter valued at $40,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Down 0.3 %

NASDAQ:HBAN opened at $14.73 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares has a one year low of $9.25 and a one year high of $15.24. The firm’s 50 day simple moving average is $14.02 and its 200 day simple moving average is $13.61. The company has a market cap of $21.39 billion, a PE ratio of 13.27, a P/E/G ratio of 3.05 and a beta of 1.06.

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

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend is Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio (DPR) is 55.86%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Bank of America raised their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Citigroup boosted their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. UBS Group lowered their price target on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, June 13th. Robert W. Baird cut Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. lowered their target price on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.59.

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.