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

Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) was the recipient of unusually large options trading activity on Thursday. Stock traders acquired 9,603 put options on the stock. This represents an increase of approximately 214% compared to the typical volume of 3,055 put options.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $11.13 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $16.13 billion, a P/E ratio of 7.48, a PEG ratio of 0.23 and a beta of 1.11. The company has a 50 day moving average price of $14.66 and a 200 day moving average price of $14.38. Huntington Bancshares has a fifty-two week low of $9.94 and a fifty-two week high of $15.74.

Huntington Bancshares Announces Dividend

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

Wall Street Analysts Forecast Growth

HBAN has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of Huntington Bancshares in a report on Thursday. They issued a “hold” rating for the company. Wolfe Research increased their price objective on shares of Huntington Bancshares from $13.00 to $14.00 in a report on Thursday, December 1st. JPMorgan Chase & Co. downgraded shares of Huntington Bancshares from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $15.50 to $14.50 in a report on Tuesday, December 13th. DA Davidson initiated coverage on shares of Huntington Bancshares in a 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. Finally, Morgan Stanley cut their price target on shares of Huntington Bancshares from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Monday, January 23rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $15.47.

Insider Buying and Selling

In related 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 transaction of $1,200,800.00. Following the completion of the transaction, the director now owns 62,845 shares in the company, valued at approximately $943,303.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

A number of hedge funds have recently made changes to their positions in the stock. CI Investments Inc. boosted its position in Huntington Bancshares by 994.3% in the 3rd quarter. CI Investments Inc. now owns 1,904 shares of the bank’s stock valued at $25,000 after buying an additional 1,730 shares during the period. Archer Investment Corp purchased a new position in Huntington Bancshares in the 4th quarter valued at approximately $27,000. Retirement Financial Solutions LLC purchased a new position in Huntington Bancshares in the 4th quarter valued at approximately $28,000. Allworth Financial LP boosted its position in Huntington Bancshares by 91.9% in the 3rd quarter. Allworth Financial LP now owns 1,998 shares of the bank’s stock valued at $26,000 after buying an additional 957 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in Huntington Bancshares by 149.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,573 shares of the bank’s stock valued at $34,000 after buying an additional 1,543 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

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.