Huntington Bancshares Target of Unusually High Options Trading (NASDAQ:HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) saw some unusual options trading activity on Tuesday. Stock investors purchased 10,638 call options on the company. This is an increase of 193% compared to the typical volume of 3,636 call options.

Insider Transactions at Huntington Bancshares

In related news, Director James D. Rollins III bought 11,127 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was bought at an average cost of $16.50 per share, with a total value of $183,595.50. Following the completion of the acquisition, the director owned 11,127 shares in the company, valued at approximately $183,595.50. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have bought 33,500 shares of company stock valued at $617,542 over the last three months. Company insiders own 0.67% of the company’s stock.

Institutional Trading of Huntington Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Huntington Bancshares by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after acquiring an additional 14,338,222 shares during the period. State Street Corp grew its stake in Huntington Bancshares by 4.7% in the 4th quarter. State Street Corp now owns 77,228,656 shares of the bank’s stock worth $1,351,806,000 after acquiring an additional 3,438,501 shares during the period. Wellington Management Group LLP grew its stake in Huntington Bancshares by 4,265.5% in the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock worth $1,215,955,000 after acquiring an additional 68,478,435 shares during the period. Boston Partners grew its stake in Huntington Bancshares by 3.9% in the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock worth $1,091,615,000 after acquiring an additional 2,363,905 shares during the period. Finally, Invesco Ltd. grew its stake in Huntington Bancshares by 6.6% in the 4th quarter. Invesco Ltd. now owns 62,971,849 shares of the bank’s stock worth $1,092,562,000 after acquiring an additional 3,908,927 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Price Performance

HBAN stock traded up $0.23 during trading on Tuesday, hitting $17.44. The stock had a trading volume of 6,322,132 shares, compared to its average volume of 28,712,766. The company’s 50 day moving average price is $16.32 and its two-hundred day moving average price is $16.85. Huntington Bancshares has a 1-year low of $14.89 and a 1-year high of $19.45. The stock has a market cap of $35.34 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 0.80 and a beta of 0.94. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the previous year, the company posted $0.34 EPS. On average, sell-side analysts forecast that Huntington Bancshares will post 1.61 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares’s payout ratio is presently 47.69%.

Analyst Upgrades and Downgrades

HBAN has been the subject of a number of research analyst reports. The Goldman Sachs Group dropped their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, April 6th. Morgan Stanley dropped their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Friday, April 24th. Evercore reissued an “outperform” rating and set a $20.00 price objective on shares of Huntington Bancshares in a research note on Friday. Piper Sandler raised shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price objective for the company in a research note on Thursday, April 23rd. Finally, Royal Bank Of Canada dropped their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.05.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.