In the last trading session, 9.48 million Huntington Bancshares Incorporated (NASDAQ:HBAN) shares changed hands as the company’s beta touched 1.10. With the company’s per share price at $10.59 changed hands at -$0.11 or -1.03% during last session, the market valuation stood at $15.56B. HBAN’s last price was a discount, traded about -48.63% off its 52-week high of $15.74. The share price had its 52-week low at $9.13, which suggests the last value was 13.79% up since then. When we look at Huntington Bancshares Incorporated’s average trading volume, we note the 10-day average is 16.28 million shares, with the 3-month average coming to 12.59 million.
Analysts gave the Huntington Bancshares Incorporated (HBAN) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.60. If we narrow down to specifics, the data shows that 2 out of 20 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 12 recommended HBAN as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. Huntington Bancshares Incorporated’s EPS for the current quarter is expected to be $0.33.
Huntington Bancshares Incorporated (NASDAQ:HBAN) trade information
Instantly HBAN was in red as seen at the end of in last trading. With action -1.49%, the performance over the past five days has been red. The drop to weekly highs of 11.10 on Monday, 09/18/23 subtracted -1.03% to the stock’s daily price. The company’s shares are showing year-to-date downside of -24.89%, with the 5-day performance at -1.49% in the red. However, in the 30-day time frame, Huntington Bancshares Incorporated (NASDAQ:HBAN) is -5.78% down. Looking at the short shares, we see there were 40.94 million shares sold at short interest cover period of 3.81 days.
The consensus price target for the stock as assigned by Wall Street analysts is $12.82, meaning bulls need an upside of 17.39% from its current market value. According to analyst projections, HBAN’s forecast low is $11.00 with $15.00 as the target high. To hit the forecast high, the stock’s price needs a -41.64% plunge from its current level, while the stock would need to soar -3.87% for it to hit the projected low.
Huntington Bancshares Incorporated (HBAN) estimates and forecasts
Data shows that the Huntington Bancshares Incorporated share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 2.42% over the past 6 months, a -8.67% in annual growth rate that is considerably lower than the industry average of -4.40%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Huntington Bancshares Incorporated will fall -15.40%, while the growth in revenue is estimated to hit -26.20% for the next quarter. Year-over-year growth is forecast to reach 1.20% up from the last financial year.
Consensus estimates given by 15 financial analysts project the company’s revenue in the current quarter to hit an average of $1.82 billion. 15 analysts are of the opinion that Huntington Bancshares Incorporated’s revenue for the quarter ending Dec 2023 will be $1.81 billion. The company’s revenue for the corresponding quarters a year ago was $1.84 billion and $1.97 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -1.20%. The estimates for the next quarter sales put growth at -8.10%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 10.80%. The 2023 estimates are for Huntington Bancshares Incorporated earnings to increase by 61.90%, but the outlook for the next 5-year period is at -2.15% per year.
Huntington Bancshares Incorporated is expected to release its next quarterly earnings report on October 20. The 5.85% annual yield figure for the share gives it an annual dividend of 0.62. It is important to note, however, that the 5.85% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Huntington Bancshares Incorporated (NASDAQ:HBAN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.91% of Huntington Bancshares Incorporated shares while 81.54% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 82.29%. There are 81.54% institutions holding the Huntington Bancshares Incorporated stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 11.80% of the shares, roughly 170.86 million HBAN shares worth $1.84 billion.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 9.19% or 133.03 million shares worth $1.43 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 44.93 million shares estimated at $484.36 million under it, the former controlled 3.10% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.37% of the shares, roughly 34.35 million shares worth around $370.28 million.