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Why Should We Buy Huntington Bancshares Incorporated (HBAN) Stock?

Huntington Bancshares Incorporated (NASDAQ:HBAN) has a beta value of 1.13 and has seen 2.41 million shares traded in the recent trading session. The company, currently valued at $21.13B, closed the recent trade at $14.76 per share which meant it gained $0.02 on the day or 0.14% during that session. The HBAN stock price is -11.86% off its 52-week high price of $16.51 and 20.93% above the 52-week low of $11.67. If we look at the company’s 10-day average daily trading volume, we find that it stood at 16.58 million shares traded. The 3-month trading volume is 15.55 million shares.

The consensus among analysts is that Huntington Bancshares Incorporated (HBAN) is a Hold stock at the moment, with a recommendation rating of 2.70. 4 analysts rate the stock as a Sell, while 2 rate it as Overweight. 9 out of 21 have rated it as a Hold, with 6 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.4.

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Huntington Bancshares Incorporated (NASDAQ:HBAN) trade information

Sporting 0.14% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the HBAN stock price touched $14.76 or saw a rise of 0.07%. Year-to-date, Huntington Bancshares Incorporated shares have moved 4.54%, while the 5-day performance has seen it change 1.10%. Over the past 30 days, the shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have changed 6.97%. Short interest in the company has seen 51.89 million shares shorted with days to cover at 2.35.

Huntington Bancshares Incorporated (HBAN) estimates and forecasts

Figures show that Huntington Bancshares Incorporated shares have underperformed across the wider relevant industry. The company’s shares have gained 13.21% over the past 6 months, with this year growth rate of 3.33%, compared to 5.50% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 53.80% and 27.60% for the next quarter. Revenue growth from the last financial year stood is estimated to be 20.10%.

13 analysts offering their estimates for the company have set an average revenue estimate of $1.93 billion for the current quarter. 10 have an estimated revenue figure of $1.9 billion for the next quarter concluding in Mar 2023. Year-ago sales stood $1.65 billion and $1.63 billion respectively for this quarter and the next, and analysts expect sales will grow by 16.50% for the current quarter and 16.70% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 5.00% over the past 5 years. Earnings growth for 2023 is a modest 29.10% while over the next 5 years, the company’s earnings are expected to decrease by -2.15%.

HBAN Dividends

Huntington Bancshares Incorporated is expected to release its next earnings report between April 19 and April 24 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.62 at a share yield of 4.21%. The company’s dividend yield has gone up over the past 12 months.

Huntington Bancshares Incorporated (NASDAQ:HBAN)’s Major holders

Insiders own 0.89% of the company shares, while shares held by institutions stand at 81.72% with a share float percentage of 82.46%. Investors are also buoyed by the number of investors in a company, with Huntington Bancshares Incorporated having a total of 1,164 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 165.93 million shares worth more than $2.0 billion. As of Jun 29, 2022, Vanguard Group, Inc. (The) held 11.51% of shares outstanding.

The other major institutional holder is Blackrock Inc., with the holding of over 137.49 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $1.65 billion and represent 9.53% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund. As of Jun 29, 2022, the former fund manager holds about 2.94% shares in the company for having 42.38 million shares of worth $509.81 million while later fund manager owns 33.13 million shares of worth $398.59 million as of Jun 29, 2022, which makes it owner of about 2.30% of company’s outstanding stock.

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