Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Free Report) was the recipient of some unusual options trading activity on Thursday. Investors acquired 8,196 call options on the stock. This is an increase of approximately 167% compared to the typical volume of 3,068 call options.
Insiders Place Their Bets
In other Huntington Bancshares news, insider Kendall Kowalski sold 27,971 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $17.20, for a total value of $481,101.20. Following the transaction, the insider directly owned 70,025 shares in the company, valued at approximately $1,204,430. This represents a 28.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.67% of the company’s stock.
Institutional Trading of Huntington Bancshares
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Huntington Bancshares in the second quarter worth about $3,134,426,000. Victory Capital Management Inc. boosted its holdings in Huntington Bancshares by 9.3% in the 4th quarter. Victory Capital Management Inc. now owns 37,412,989 shares of the bank’s stock worth $649,115,000 after acquiring an additional 3,182,001 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Huntington Bancshares by 27.2% during the first quarter. Dimensional Fund Advisors LP now owns 23,480,601 shares of the bank’s stock valued at $367,388,000 after purchasing an additional 5,026,894 shares during the period. Amundi lifted its position in shares of Huntington Bancshares by 30.7% during the first quarter. Amundi now owns 19,502,547 shares of the bank’s stock worth $305,215,000 after purchasing an additional 4,578,566 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of Huntington Bancshares in the second quarter valued at $256,772,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.
Huntington Bancshares Trading Down 1.1%
Huntington Bancshares (NASDAQ:HBAN – Get Free Report) last posted its earnings results on Thursday, July 23rd. The bank reported $0.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.39. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.84 billion. Huntington Bancshares had a net margin of 16.64% and a return on equity of 11.19%. During the same quarter in the prior year, the company earned $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. As a group, equities research analysts anticipate that Huntington Bancshares will post 1.54 earnings per share for the current year.
Huntington Bancshares Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 17th will be paid a $0.1550 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Thursday, September 17th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 48.06%.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on HBAN. Robert W. Baird raised their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Weiss Ratings upgraded Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, July 6th. Wells Fargo & Company lowered their price objective on Huntington Bancshares from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, September 16th. Truist Financial reduced their target price on Huntington Bancshares from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, September 23rd. Finally, JPMorgan Chase & Co. raised their price target on Huntington Bancshares from $18.50 to $19.50 and gave the stock an “overweight” rating in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus price target of $19.79.
Check Out Our Latest Analysis on HBAN
Huntington Bancshares Company Profile
Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides consumer, small-business and commercial banking services through branch offices, digital banking channels and automated teller machines.
The company offers deposit accounts, residential and commercial mortgages, home equity lending, auto loans, personal lending, credit cards and other consumer financial products. Its business banking operations provide lending, treasury management, payment processing and capital markets services, while its wealth management and insurance businesses serve individuals, families and institutions.
Founded in 1866, Huntington has developed a banking franchise across the Midwest, with a presence in states including Ohio, Michigan, Pennsylvania, Indiana, West Virginia, Kentucky, Illinois and Wisconsin.
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