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

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Huntington Bancshares Incorporated (NASDAQ:HBAN) was the recipient of unusually large options trading on Monday. Traders acquired 5,410 put options on the stock. This is an increase of 950% compared to the typical volume of 515 put options.

A number of analysts recently commented on the company. Deutsche Bank decreased their target price on Huntington Bancshares from $15.00 to $10.00 and set a “hold” rating for the company in a research report on Thursday, April 2nd. Barclays reaffirmed a “hold” rating and issued a $12.00 target price on shares of Huntington Bancshares in a research report on Thursday, April 9th. ValuEngine raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, June 5th. UBS Group boosted their target price on Huntington Bancshares from $7.50 to $8.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. Finally, Raymond James decreased their target price on Huntington Bancshares from $11.50 to $10.00 and set an “outperform” rating for the company in a research report on Monday, April 27th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. Huntington Bancshares presently has an average rating of “Hold” and a consensus price target of $10.95.

In other news, EVP Mark E. Thompson sold 11,464 shares of Huntington Bancshares stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $8.68, for a total value of $99,507.52. Following the completion of the transaction, the executive vice president now directly owns 644,809 shares of the company’s stock, valued at approximately $5,596,942.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Paul G. Heller sold 46,726 shares of Huntington Bancshares stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $9.10, for a total value of $425,206.60. Following the completion of the transaction, the executive vice president now directly owns 532,943 shares of the company’s stock, valued at $4,849,781.30. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Huntington Bancshares by 1.8% in the 1st quarter. BlackRock Inc. now owns 88,685,388 shares of the bank’s stock worth $728,107,000 after buying an additional 1,606,633 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Huntington Bancshares by 22.4% in the 1st quarter. JPMorgan Chase & Co. now owns 43,892,545 shares of the bank’s stock worth $360,358,000 after buying an additional 8,020,890 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Huntington Bancshares by 2.5% in the 1st quarter. Geode Capital Management LLC now owns 17,630,203 shares of the bank’s stock worth $144,469,000 after buying an additional 436,274 shares during the last quarter. Norges Bank purchased a new position in shares of Huntington Bancshares in the 4th quarter worth approximately $206,248,000. Finally, Prudential PLC boosted its stake in shares of Huntington Bancshares by 129.5% in the 1st quarter. Prudential PLC now owns 9,461,800 shares of the bank’s stock worth $77,681,000 after buying an additional 5,338,247 shares during the last quarter. Hedge funds and other institutional investors own 73.97% of the company’s stock.

HBAN stock opened at $8.87 on Tuesday. The company has a market capitalization of $8.93 billion, a P/E ratio of 9.05, a price-to-earnings-growth ratio of 4.16 and a beta of 1.52. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares has a 52-week low of $6.82 and a 52-week high of $15.63. The business has a 50-day simple moving average of $9.25 and a two-hundred day simple moving average of $11.16.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.09). Huntington Bancshares had a net margin of 19.65% and a return on equity of 10.40%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the firm posted $0.32 EPS. Huntington Bancshares’s revenue for the quarter was up .8% on a year-over-year basis. As a group, sell-side analysts forecast that Huntington Bancshares will post 0.43 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.76%. Huntington Bancshares’s payout ratio is presently 47.24%.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).

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