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Huntington Bancshares Incorporated (NASDAQ: HBAN) Surged -26.86% In 6 Months – Here’s What Happens Next

Huntington Bancshares Incorporated (NASDAQ:HBAN)’s traded shares stood at 9.72 million during the latest session, with the company’s beta value hitting 1.14. At the last check today, the stock’s price was $10.43, to imply a decrease of -6.29% or -$0.7 in intraday trading. The HBAN share’s 52-week high remains $15.74, putting it -50.91% down since that peak but still an impressive 4.7% since price per share fell to its 52-week low of $9.94. The company has a valuation of $16.51B, with an average of 39.19 million shares in intraday trading volume over the past 10 days and average of 16.96 million shares over the past 3 months.

Analysts have given a consensus recommendation of a Hold for Huntington Bancshares Incorporated (HBAN), translating to a mean rating of 2.70. Of 22 analyst(s) looking at the stock, 4 analyst(s) give HBAN a Sell rating. 3 of those analysts rate the stock as Overweight while 9 advise Hold as 6 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.38.

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Huntington Bancshares Incorporated (NASDAQ:HBAN) trade information

After registering a -6.29% downside in the latest session, Huntington Bancshares Incorporated (HBAN) has traded red over the past five days. The stock hit a weekly high of 13.28 this Thursday, 03/16/23, dropping -6.29% in its intraday price action. The 5-day price performance for the stock is -21.99%, and -32.32% over 30 days. With these gigs, the year-to-date price performance is -26.03%. Short interest in Huntington Bancshares Incorporated (NASDAQ:HBAN) saw shorts transact 44.96 million shares and set a 3.72 days time to cover.

Analysts on Wall Street suggest a consensus price target of $15.71, implying an increase of 33.61% to the stock’s recent value. The extremes give us $13.50 and $18.00 for target low and target high price respectively. As such, HBAN has been trading -72.58% off suggested target high and -29.43% from its likely low.

Huntington Bancshares Incorporated (HBAN) estimates and forecasts

Looking at statistics comparing Huntington Bancshares Incorporated share performance against respective industry, we note that the company has underperformed competitors. Huntington Bancshares Incorporated (HBAN) shares are -26.86% down over the last 6 months, with its year-to-date growth rate lower than industry average at 1.33% against 5.30%. Revenue is forecast to grow 31.00% this quarter before jumping 8.60% for the next one. The rating firms project that company’s revenue will grow 5.90% compared to the previous financial year.

Revenue forecast for the current quarter as set by 13 analysts is $1.92 billion. Meanwhile, for the quarter ending Jun 2023, a total of 13 analyst(s) estimate revenue growth to $1.93 billion.Earnings reports from the last fiscal year show that sales brought in $1.65 billion and $1.75 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 15.90% before jumping 10.00% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 10.80% for the past 5-year period. While 2023 is set for a 61.90% return in earnings, projections for the next 5 years are at -2.15% annually.

HBAN Dividends

Huntington Bancshares Incorporated has its next earnings report out on April 20. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Huntington Bancshares Incorporated has a forward dividend ratio of 0.62, with the share yield ticking at 5.57% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

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

Huntington Bancshares Incorporated insiders hold 0.88% of total outstanding shares, with institutional holders owning 83.24% of the shares at 83.98% float percentage. In total, 83.24% institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Dec 30, 2022, the company held over 169.5 million shares (or 11.69% of shares), all amounting to roughly $1.77 billion.

The next major institution holding the largest number of shares is Blackrock Inc. with 136.93 million shares, or about 9.45% of shares outstanding. As of the market price on Dec 30, 2022, these shares were worth $1.43 billion.

We also have Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund as the top two Mutual Funds with the largest holdings of the Huntington Bancshares Incorporated (HBAN) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 42.9 million shares. This is just over 2.97% of the total shares, with a market valuation of $448.3 million. Data from the same date shows that the other fund manager holds a little less at 33.27 million, or 2.31% of the shares, all valued at about 347.67 million.

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