Investors Purchase Large Volume of Call Options on Huntington Bancshares (NASDAQ:HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) saw unusually large options trading on Tuesday. Investors bought 10,638 call options on the stock. This represents an increase of approximately 193% compared to the average volume of 3,636 call options.

Huntington Bancshares Trading Down 2.7%

NASDAQ HBAN opened at $16.85 on Thursday. The stock has a market capitalization of $34.16 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 0.79 and a beta of 0.94. The stock’s 50 day moving average price is $16.37 and its two-hundred day moving average price is $16.86. 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 has a 52 week low of $14.89 and a 52 week high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.21. The firm had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same quarter in the previous year, the firm earned $0.34 EPS. As a group, analysts anticipate that Huntington Bancshares will post 1.61 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be paid a $0.155 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.7%. Huntington Bancshares’s payout ratio is 47.69%.

Wall Street Analysts Forecast Growth

HBAN has been the topic of several recent research reports. Evercore reiterated an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a report on Friday, June 12th. Royal Bank Of Canada cut their target price on Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Morgan Stanley cut their target price on Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. Jefferies Financial Group increased their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Finally, Wolfe Research cut their target price on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.05.

Insider Activity at Huntington Bancshares

In other news, Director James D. Rollins III sold 223,522 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the sale, the director owned 612,155 shares in the company, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders acquired a total of 33,500 shares of company stock worth $617,542 in the last quarter. 0.67% of the stock is currently owned by corporate insiders.

Institutional Trading of Huntington Bancshares

Several institutional investors have recently added to or reduced their stakes in HBAN. CIBC Asset Management Inc lifted its position in shares of Huntington Bancshares by 24.5% during the 4th quarter. CIBC Asset Management Inc now owns 533,005 shares of the bank’s stock worth $9,248,000 after buying an additional 104,965 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Huntington Bancshares by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank’s stock worth $3,056,459,000 after buying an additional 680,601 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Huntington Bancshares by 3.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,238,142 shares of the bank’s stock worth $159,543,000 after buying an additional 314,544 shares during the last quarter. Fieldview Capital Management LLC lifted its position in shares of Huntington Bancshares by 15.9% during the 3rd quarter. Fieldview Capital Management LLC now owns 478,852 shares of the bank’s stock worth $8,270,000 after buying an additional 65,828 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Huntington Bancshares by 16.3% during the 4th quarter. KBC Group NV now owns 2,820,816 shares of the bank’s stock worth $48,941,000 after buying an additional 395,489 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

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.