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

Huntington Bancshares Incorporated (NASDAQ:HBAN) saw unusually large options trading on Wednesday. Investors purchased 35,284 call options on the company. This is an increase of 1,423% compared to the average volume of 2,316 call options.

Shares of HBAN traded up $0.17 during trading hours on Wednesday, hitting $15.21. 687,974 shares of the company were exchanged, compared to its average volume of 14,486,534. The company has a market cap of $22.46 billion, a PE ratio of 10.59 and a beta of 1.33. The firm’s 50 day moving average is $14.67 and its 200-day moving average is $15.17. Huntington Bancshares has a 52 week low of $8.52 and a 52 week high of $16.91. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.86 and a current ratio of 0.87.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Wednesday, July 28th. The bank reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. Huntington Bancshares had a return on equity of 12.87% and a net margin of 31.76%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.32 billion. As a group, equities analysts forecast that Huntington Bancshares will post 1.57 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Friday, September 17th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, September 16th. This represents a $0.60 annualized dividend and a yield of 3.94%. Huntington Bancshares’s payout ratio is 86.96%.

Several research analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on Huntington Bancshares in a research report on Wednesday, August 18th. They set a “buy” rating on the stock. Morgan Stanley upped their price target on Huntington Bancshares from $18.50 to $18.75 and gave the company an “equal weight” rating in a research report on Monday, August 2nd. Raymond James raised Huntington Bancshares from an “outperform” rating to a “strong-buy” rating and set a $18.00 price target on the stock in a research report on Wednesday, June 23rd. TheStreet lowered Huntington Bancshares from a “b-” rating to a “c+” rating in a research report on Thursday, July 29th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Huntington Bancshares in a research report on Wednesday, July 7th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $16.03.

A number of large investors have recently made changes to their positions in HBAN. Vanguard Group Inc. boosted its stake in Huntington Bancshares by 45.9% during the 2nd quarter. Vanguard Group Inc. now owns 164,762,064 shares of the bank’s stock valued at $2,351,154,000 after purchasing an additional 51,806,488 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Huntington Bancshares by 149.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 59,570,115 shares of the bank’s stock valued at $936,442,000 after purchasing an additional 35,731,508 shares during the period. BlackRock Inc. boosted its stake in Huntington Bancshares by 38.6% during the 2nd quarter. BlackRock Inc. now owns 121,936,406 shares of the bank’s stock valued at $1,740,034,000 after purchasing an additional 33,971,575 shares during the period. State Street Corp boosted its stake in Huntington Bancshares by 34.5% during the 2nd quarter. State Street Corp now owns 76,458,899 shares of the bank’s stock valued at $1,102,610,000 after purchasing an additional 19,606,401 shares during the period. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in Huntington Bancshares during the 2nd quarter valued at approximately $269,671,000. Hedge funds and other institutional investors own 76.75% of the company’s stock.

Huntington Bancshares Company Profile

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, and other financial products and services.

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