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Huntington Bancshares Incorporated (NASDAQ: HBAN)’s Stock Is Down -23.17% Since The Beginning Of The Year, Likely To Sustain The Trend In 2023

During the recent session, Huntington Bancshares Incorporated (NASDAQ:HBAN)’s traded shares were 2.13 million, with the beta value of the company hitting 1.10. At the last check today, the stock’s price was $10.48, reflecting an intraday gain of 0.58% or $0.06. The 52-week high for the HBAN share is $15.74, that puts it down -50.19 from that peak though still a striking 12.88% gain since the share price plummeted to a 52-week low of $9.13. The company’s market capitalization is $15.13B, and the average intraday trading volume over the past 10 days was 13.43 million shares, and the average trade volume was 21.85 million shares over the past three months.

Huntington Bancshares Incorporated (HBAN) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.70. HBAN has a Sell rating from 3 analyst(s) out of 22 analysts who have looked at this stock. 11 analyst(s) recommend to Hold the stock while 3 suggest Overweight, and 5 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.35.

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Huntington Bancshares Incorporated (NASDAQ:HBAN) trade information

Huntington Bancshares Incorporated (HBAN) registered a 0.58% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.58% in intraday trading to $10.48 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is 3.05%, and it has moved by -6.01% in 30 days. Based on these gigs, the overall price performance for the year is -23.17%. The short interest in Huntington Bancshares Incorporated (NASDAQ:HBAN) is 50.83 million shares and it means that shorts have 2.81 day(s) to cover.

The consensus price target of analysts on Wall Street is $12.79, which implies an increase of 18.06% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $11.00 and $16.00 respectively. As a result, HBAN is trading at a discount of -52.67% off the target high and -4.96% off the low.

Huntington Bancshares Incorporated (HBAN) estimates and forecasts

Statistics show that Huntington Bancshares Incorporated has underperformed its competitors in share price, compared to the industry in which it operates. Huntington Bancshares Incorporated (HBAN) shares have gone down -30.92% during the last six months, with a year-to-date growth rate less than the industry average at -4.00% against -2.70. In the rating firms’ projections, revenue will increase 2.90% compared to the previous financial year.

Revenue for the current quarter is expected to be $1.86 billion as predicted by 12 analyst(s). Meanwhile, a consensus of 12 analyst(s) estimates revenue growth to $1.88 billion by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $1.75 billion and $1.84 billion respectively. In this case, analysts expect current quarter sales to grow by 6.10% and then jump by 2.00% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 10.80%. While earnings are projected to return 61.90% in 2023, the next five years will return -2.15% per annum.

HBAN Dividends

Huntington Bancshares Incorporated is due to release its next quarterly earnings between July 19 and July 24. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Huntington Bancshares Incorporated is 0.62, with the dividend yield indicating at 5.95 percent, continuing the trend of increasing dividends in recent years.

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

Huntington Bancshares Incorporated insiders own 0.88% of total outstanding shares while institutional holders control 83.74%, with the float percentage being 84.48%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 1,249 institutions own stock in it. As of Mar 30, 2023, the company held over 171.44 million shares (or 11.88% of all shares), a total value of $1.92 billion in shares.

The next largest institutional holding, with 137.59 million shares, is of Blackrock Inc.’s that is approximately 9.53% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $1.54 billion.

Also, the Mutual Funds coming in first place with the largest holdings of Huntington Bancshares Incorporated (HBAN) shares are Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 43.79 million shares. This amounts to just over 3.02 percent of the company’s overall shares, with a $617.46 million market value. The same data shows that the other fund manager holds slightly less at 33.6 million, or about 2.32% of the stock, which is worth about $473.79 million.

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