On April 25, 2023 at 13:30:12 ET an unusually large $98.17K block of Put contracts in Huntington Bancshares (HBAN) was bought, with a strike price of $9.00 / share, expiring in 269 day(s) (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 1.75 sigmas above the mean, placing it in the 95.90th percentile of all recent large trades made in HBAN options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 1638 funds or institutions reporting positions in Huntington Bancshares. This is an increase of 61 owner(s) or 3.87% in the last quarter. Average portfolio weight of all funds dedicated to HBAN is 0.25%, an increase of 0.23%. Total shares owned by institutions decreased in the last three months by 0.84% to 1,340,109K shares. The put/call ratio of HBAN is 0.78, indicating a bullish outlook.

Analyst Price Forecast Suggests 18.66% Upside

As of April 24, 2023, the average one-year price target for Huntington Bancshares is $13.29. The forecasts range from a low of $11.11 to a high of $16.80. The average price target represents an increase of 18.66% from its latest reported closing price of $11.20.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Huntington Bancshares is $8,036MM, an increase of 12.05%. The projected annual non-GAAP EPS is $1.59.

What are Other Shareholders Doing?

AE Wealth Management holds 1,756K shares representing 0.12% ownership of the company. In it’s prior filing, the firm reported owning 1,528K shares, representing an increase of 12.96%. The firm increased its portfolio allocation in HBAN by 82.89% over the last quarter.

FCFMX – Fidelity Series Total Market Index Fund holds 1,696K shares representing 0.12% ownership of the company. In it’s prior filing, the firm reported owning 1,662K shares, representing an increase of 1.99%. The firm increased its portfolio allocation in HBAN by 13.50% over the last quarter.

XFDVX – Federated Hermes U.S. Strategic Dividend ETF holds 63K shares representing 0.00% ownership of the company.

Gamco Investors, Inc. Et Al holds 269K shares representing 0.02% ownership of the company. In it’s prior filing, the firm reported owning 251K shares, representing an increase of 6.87%. The firm increased its portfolio allocation in HBAN by 4.93% over the last quarter.

Coldstream Capital Management holds 34K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 30K shares, representing an increase of 13.77%. The firm decreased its portfolio allocation in HBAN by 99.87% over the last quarter.

Huntington Bancshares Declares $0.16 Dividend

On April 20, 2023 the company declared a regular quarterly dividend of $0.16 per share ($0.62 annualized). Shareholders of record as of June 19, 2023 will receive the payment on July 3, 2023. Previously, the company paid $0.16 per share.

At the current share price of $11.20 / share, the stock’s dividend yield is 5.54%. Looking back five years and taking a sample every week, the average dividend yield has been 4.50%, the lowest has been 2.83%, and the highest has been 8.57%. The standard deviation of yields is 1.01 (n=237).

The current dividend yield is 1.03 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is 0.38. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is 0.03%, demonstrating that it has increased its dividend over time.

Huntington Bancshares Background Information
(This description is provided by the company.)

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio, with $123 billion of assets and a network of 839 full-service branches, including 11 Private Client Group offices, and 1,322 ATMs across seven Midwestern states. Founded in 1866, The Huntington National Bank and its affiliates provide consumer, small business, commercial, treasury management, wealth management, brokerage, trust, and insurance services. Huntington also provides vehicle finance, equipment finance, national settlement, and capital market services that extend beyond its core states.

See all Huntington Bancshares regulatory filings.

This article originally appeared on Fintel

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