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

Huntington Bancshares Incorporated (NASDAQ:HBAN) was the target of some unusual options trading activity on Tuesday. Traders bought 1,073 put options on the stock. This represents an increase of 809% compared to the typical daily volume of 118 put options.

In other news, EVP Nancy E. Maloney sold 1,958 shares of the business’s stock in a transaction on Friday, May 4th. The shares were sold at an average price of $14.54, for a total transaction of $28,469.32. Following the transaction, the executive vice president now directly owns 79,646 shares in the company, valued at approximately $1,158,052.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David L. Porteous sold 62,000 shares of the business’s stock in a transaction on Thursday, May 24th. The shares were sold at an average price of $15.06, for a total transaction of $933,720.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 117,387 shares of company stock worth $1,774,808. 1.05% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd lifted its position in Huntington Bancshares by 42.1% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 75,116 shares of the bank’s stock worth $1,135,000 after acquiring an additional 22,267 shares during the last quarter. Suntrust Banks Inc. lifted its position in Huntington Bancshares by 6.6% during the 1st quarter. Suntrust Banks Inc. now owns 88,393 shares of the bank’s stock worth $1,333,000 after acquiring an additional 5,455 shares during the last quarter. Principal Financial Group Inc. lifted its position in Huntington Bancshares by 3.8% during the 1st quarter. Principal Financial Group Inc. now owns 1,760,340 shares of the bank’s stock worth $26,582,000 after acquiring an additional 65,260 shares during the last quarter. CIBC World Markets Inc. lifted its position in Huntington Bancshares by 416.6% during the 1st quarter. CIBC World Markets Inc. now owns 71,220 shares of the bank’s stock worth $1,075,000 after acquiring an additional 57,434 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its position in Huntington Bancshares by 27.8% during the 1st quarter. Moors & Cabot Inc. now owns 17,725 shares of the bank’s stock worth $268,000 after acquiring an additional 3,853 shares during the last quarter. 74.40% of the stock is owned by hedge funds and other institutional investors.



Shares of NASDAQ:HBAN opened at $15.37 on Wednesday. The firm has a market capitalization of $16.89 billion, a P/E ratio of 15.68, a price-to-earnings-growth ratio of 1.07 and a beta of 1.32. Huntington Bancshares has a 1 year low of $12.14 and a 1 year high of $16.60. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.88 and a quick ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Tuesday, April 24th. The bank reported $0.28 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.28. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Huntington Bancshares had a net margin of 26.97% and a return on equity of 12.64%. Huntington Bancshares’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. equities analysts anticipate that Huntington Bancshares will post 1.21 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Monday, June 18th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Friday, June 15th. Huntington Bancshares’s dividend payout ratio is presently 44.90%.

Several research firms have recently commented on HBAN. BidaskClub upgraded shares of Huntington Bancshares from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 7th. UBS Group began coverage on shares of Huntington Bancshares in a report on Wednesday, March 21st. They set a “buy” rating and a $20.00 price target on the stock. Keefe, Bruyette & Woods restated a “hold” rating and set a $17.00 price target on shares of Huntington Bancshares in a report on Tuesday, February 27th. ValuEngine upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Zacks Investment Research cut shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a report on Thursday, April 5th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Huntington Bancshares has a consensus rating of “Buy” and an average price target of $16.98.

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's Consumer and Business Banking segment offers financial products and services, such as checking accounts, savings accounts, money market accounts, certificates of deposit, consumer loans, and small business loans; and investments, mortgages, insurance, interest rate risk protection, and foreign exchange and treasury management services.

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