In today’s recent session, 5.33 million shares of the Huntington Bancshares Incorporated (NASDAQ:HBAN) have been traded, and its beta is 1.10. Most recently the company’s share price was $10.81, and it changed around $0.28 or 2.71% from the last close, which brings the market valuation of the company to $15.29B. HBAN at last check was trading at a discount to its 52-week high of $15.74, offering almost -45.61% off that amount. The share price’s 52-week low was $9.13, which indicates that the recent value has risen by an impressive 15.54% since then. We note from Huntington Bancshares Incorporated’s average daily trading volume that its 10-day average is 14.91 million shares, with the 3-month average coming to 21.99 million.
Huntington Bancshares Incorporated stock received a consensus recommendation rating of a Hold, based on a mean score of 2.70. If we narrow it down even further, the data shows that 3 out of 22 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 11 recommended HBAN as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. Huntington Bancshares Incorporated is expected to report earnings per share of $0.35 for the current quarter.
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Huntington Bancshares Incorporated (NASDAQ:HBAN) trade information
Instantly HBAN has been showing a green trend so far today with a performance of 2.71% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 10.85 on Monday, 05/22/23 increased the stock’s daily price by 0.37%. The company’s shares are currently down -23.30% year-to-date, but still up 14.08% over the last five days. On the other hand, Huntington Bancshares Incorporated (NASDAQ:HBAN) is -3.44% up in the 30-day period. We can see from the shorts that 47.09 million shares have been sold at a short interest cover period of 3.07 day(s).
The consensus price target as assigned by Wall Street analysts is $12.79, which translates to bulls needing to increase their stock price by 15.48% from its current value. Analyst projections state that HBAN is forecast to be at a low of $11.00 and a high of $16.00. In order for the stock price to hit the forecast high, the stock would need to plunge -48.01% from its current level, while the stock would need to crash -1.76% from its current level to reach the projected low.
Huntington Bancshares Incorporated (HBAN) estimates and forecasts
Huntington Bancshares Incorporated share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -27.37 percent over the past six months and at a -4.00% annual growth rate that is well below the industry average of -2.70%. The year-over-year growth rate is expected to be 2.90%, up from the previous year.
Consensus estimates provided by 12 financial analysts predict the company will bring in an average of $1.86 billion in revenue for the current quarter. 12 analysts expect Huntington Bancshares Incorporated to make $1.88 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $1.75 billion and $1.84 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 6.20%. Forecasts for the next quarter put sales growth at 2.00%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 10.80%. Huntington Bancshares Incorporated earnings are expected to increase by 61.90% in 2023, but the outlook is negative -2.15% per year for the next five years.
Huntington Bancshares Incorporated’s next quarterly earnings report is expected to be released around July 19 and July 24. The annual dividend yield of the stock is 5.89 percent and its annual dividend per share was 0.62. It is important to note, however, that the 5.89% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
Huntington Bancshares Incorporated (NASDAQ:HBAN)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.88% of Huntington Bancshares Incorporated shares, and 83.74% of them are in the hands of institutional investors. The stock currently has a share float of 84.48%. Huntington Bancshares Incorporated stock is held by 1,249 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 11.88% of the shares, which is about 171.44 million shares worth $1.92 billion.
Blackrock Inc., with 9.53% or 137.59 million shares worth $1.54 billion as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 43.79 million shares worth $617.46 million, making up 3.02% of all outstanding shares. On the other hand, Vanguard Mid-Cap Index Fund held roughly 33.6 million shares worth around $473.79 million, which represents about 2.32% of the total shares outstanding.