Stock Traders Buy High Volume of Huntington Bancshares Put Options (NASDAQ:HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) was the target of some unusual options trading activity on Monday. Stock traders purchased 5,410 put options on the company. This represents an increase of approximately 950% compared to the average volume of 515 put options.

A number of research firms have recently issued reports on HBAN. Nomura reissued a “hold” rating and issued a $7.00 price target on shares of Huntington Bancshares in a research report on Sunday, April 26th. DA Davidson began coverage on shares of Huntington Bancshares in a research report on Monday, March 23rd. They issued a “hold” rating and a $8.00 target price for the company. Raymond James decreased their target price on shares of Huntington Bancshares from $11.50 to $10.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. BidaskClub raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, June 5th. Finally, Cfra reduced their price objective on Huntington Bancshares from $15.00 to $9.00 and set a “hold” rating for the company in a research report on Monday, April 6th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $10.95.

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

Several institutional investors have recently modified their holdings of the company. Grove Bank & Trust grew its stake in Huntington Bancshares by 2.5% in the 4th quarter. Grove Bank & Trust now owns 32,442 shares of the bank’s stock valued at $489,000 after buying an additional 783 shares during the last quarter. Azimuth Capital Management LLC boosted its holdings in Huntington Bancshares by 5.0% during the fourth quarter. Azimuth Capital Management LLC now owns 25,353 shares of the bank’s stock valued at $382,000 after acquiring an additional 1,200 shares during the period. Greenleaf Trust grew its position in shares of Huntington Bancshares by 2.5% in the first quarter. Greenleaf Trust now owns 55,925 shares of the bank’s stock valued at $459,000 after purchasing an additional 1,365 shares during the last quarter. Cetera Advisor Networks LLC increased its stake in shares of Huntington Bancshares by 4.3% in the first quarter. Cetera Advisor Networks LLC now owns 37,666 shares of the bank’s stock worth $309,000 after purchasing an additional 1,549 shares during the period. Finally, First Mercantile Trust Co. increased its stake in shares of Huntington Bancshares by 12.0% in the first quarter. First Mercantile Trust Co. now owns 15,791 shares of the bank’s stock worth $130,000 after purchasing an additional 1,687 shares during the period. Institutional investors and hedge funds own 73.97% of the company’s stock.

Shares of NASDAQ:HBAN opened at $9.04 on Wednesday. The stock has a market capitalization of $8.93 billion, a P/E ratio of 9.22, a P/E/G ratio of 4.16 and a beta of 1.52. The business has a 50-day moving average of $9.26 and a two-hundred day moving average of $11.13. Huntington Bancshares has a fifty-two week low of $6.82 and a fifty-two week high of $15.63. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.89 and a quick ratio of 0.88.

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

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.64%. The ex-dividend date of this dividend is Tuesday, June 16th. Huntington Bancshares’s dividend payout ratio is 47.24%.

Huntington Bancshares Company Profile

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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