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

Huntington Bancshares Incorporated (NASDAQ:HBAN) saw unusually large options trading activity on Wednesday. Stock investors acquired 6,056 call options on the company. This is an increase of approximately 68% compared to the average daily volume of 3,612 call options.

Insiders Place Their Bets

In other Huntington Bancshares news, Director John C. Inglis bought 6,506 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was purchased at an average cost of $15.30 per share, for a total transaction of $99,541.80. Following the completion of the purchase, the director directly owned 89,831 shares of the company’s stock, valued at approximately $1,374,414.30. This trade represents a 7.81% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Marcy C. Hingst sold 6,416 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $15.65, for a total value of $100,410.40. Following the completion of the sale, the executive vice president directly owned 252,305 shares in the company, valued at $3,948,573.25. This trade represents a 2.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Large investors have recently bought and sold shares of the business. MTM Investment Management LLC acquired a new position in shares of Huntington Bancshares in the 2nd quarter valued at about $25,000. Family Legacy Financial Solutions LLC bought a new stake in Huntington Bancshares in the second quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new position in Huntington Bancshares in the third quarter valued at approximately $26,000. South Plains Financial Inc. lifted its stake in Huntington Bancshares by 116.3% in the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after buying an additional 826 shares during the period. Finally, Accredited Wealth Management LLC boosted its holdings in shares of Huntington Bancshares by 374.5% during the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after buying an additional 1,322 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. TD Cowen raised their price objective on Huntington Bancshares from $22.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Keefe, Bruyette & Woods increased their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a “market perform” rating in a research report on Monday, October 20th. Deutsche Bank Aktiengesellschaft lifted their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Truist Financial boosted their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Finally, Stephens raised their price objective on shares of Huntington Bancshares from $18.00 to $19.00 in a report on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.69.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $17.10 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.92. Huntington Bancshares has a fifty-two week low of $11.91 and a fifty-two week high of $18.03. The company has a 50 day simple moving average of $16.05 and a two-hundred day simple moving average of $16.47. The company has a market capitalization of $24.96 billion, a PE ratio of 11.96, a P/E/G ratio of 0.64 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Monday, December 1st. The bank reported $0.67 EPS for the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. The company had revenue of $580.00 million for the quarter. Research analysts anticipate that Huntington Bancshares will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Thursday, December 18th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, December 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.6%. Huntington Bancshares’s dividend payout ratio is 43.36%.

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.