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

Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) saw some unusual options trading activity on Thursday. Investors purchased 9,603 put options on the stock. This is an increase of approximately 214% compared to the average volume of 3,055 put options.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, Director David L. Porteous sold 80,000 shares of the company’s stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $15.01, for a total value of $1,200,800.00. Following the sale, the director now owns 62,845 shares of the company’s stock, valued at $943,303.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Financial Advocates Investment Management boosted its stake in shares of Huntington Bancshares by 2.1% in the third quarter. Financial Advocates Investment Management now owns 33,300 shares of the bank’s stock valued at $439,000 after purchasing an additional 678 shares during the period. Assetmark Inc. boosted its stake in shares of Huntington Bancshares by 4.4% in the third quarter. Assetmark Inc. now owns 16,156 shares of the bank’s stock valued at $213,000 after purchasing an additional 680 shares during the period. Ballentine Partners LLC boosted its stake in shares of Huntington Bancshares by 5.5% in the fourth quarter. Ballentine Partners LLC now owns 13,096 shares of the bank’s stock valued at $185,000 after purchasing an additional 681 shares during the period. Lake Street Advisors Group LLC boosted its stake in shares of Huntington Bancshares by 6.8% in the third quarter. Lake Street Advisors Group LLC now owns 11,479 shares of the bank’s stock valued at $151,000 after purchasing an additional 729 shares during the period. Finally, Farmers Trust Co. boosted its stake in shares of Huntington Bancshares by 0.7% in the fourth quarter. Farmers Trust Co. now owns 103,156 shares of the bank’s stock valued at $1,454,000 after purchasing an additional 767 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Price Performance

HBAN opened at $11.13 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.62. Huntington Bancshares has a 52-week low of $9.94 and a 52-week high of $15.74. The company has a 50 day moving average of $14.66 and a two-hundred day moving average of $14.38. The company has a market cap of $16.13 billion, a P/E ratio of 7.48, a P/E/G ratio of 0.23 and a beta of 1.11.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 20th will be paid a dividend of $0.155 per share. The ex-dividend date is Friday, March 17th. This represents a $0.62 annualized dividend and a yield of 5.57%. Huntington Bancshares’s dividend payout ratio is currently 42.76%.

Analyst Ratings Changes

HBAN has been the subject of a number of analyst reports. Wolfe Research boosted their price objective on shares of Huntington Bancshares from $13.00 to $14.00 in a research report on Thursday, December 1st. DA Davidson initiated coverage on shares of Huntington Bancshares in a research report on Tuesday, December 20th. They issued a “neutral” rating and a $15.00 price objective for the company. They noted that the move was a valuation call. StockNews.com initiated coverage on shares of Huntington Bancshares in a research report on Thursday. They issued a “hold” rating for the company. Royal Bank of Canada dropped their price target on shares of Huntington Bancshares from $18.00 to $16.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Piper Sandler dropped their price target on shares of Huntington Bancshares from $15.00 to $14.50 in a research report on Friday, March 10th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.47.

About Huntington Bancshares

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Huntington Bancshares, Inc operates as a bank holding company. It provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, other financial products and services.