Its Stock Has Paid Off Big Time For Huntington Bancshares Incorporated

Huntington Bancshares Incorporated (NASDAQ: HBAN) stock jumped 0.58% on Thursday to $10.42 against a previous-day closing price of $10.36. With 10.91 million shares changed hands, the volume of the stock remained lighter than its average volume of 21.85 million shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $10.44 whereas the lowest price it dropped to was $10.20. The 52-week range on HBAN shows that it touched its highest point at $15.74 and its lowest point at $9.13 during that stretch. It currently has a 1-year price target of $12.74. With its current market cap of 15.13 billion, HBAN has annualized dividend of $0.62 while the current yield stands at 5.95%. Beta for the stock currently stands at 1.10.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HBAN was up-trending over the past week, with a rise of 1.86%, but this was down by -3.79% over a month. Three-month performance dropped to -31.85% while six-month performance fell -31.22%. The stock lost -22.35% in the past year, while it has lost -26.10% so far this year. A look at the trailing 12-month EPS for HBAN yields 1.54 with Next year EPS estimates of 1.37. For the next quarter, that number is 0.35. This implies an EPS growth rate of 61.90% for this year and -4.39% for next year. EPS is expected to decline by -2.15% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 10.80%.

Float and Shares Shorts:

At present, 1.44 billion HBAN shares are outstanding with a float of 1.43 billion shares on hand for trading. On May 14, 2023, short shares totaled 50.83 million, which was 3.52% higher than short shares on Apr 13, 2023. In addition to Mr. Stephen D. Steinour as the firm’s Chairman, Pres & CEO, Mr. Zachary J. Wasserman serves as its CFO & Sr. EVP.

Institutional Ownership:

Through their ownership of 83.74% of HBAN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 51.75% of HBAN, in contrast to 31.15% held by mutual funds. Shares owned by individuals account for 2.10%. As the largest shareholder in HBAN with 11.45% of the stake, The Vanguard Group, Inc. holds 165,192,833 shares worth 165,192,833. A second-largest stockholder of HBAN, BlackRock Fund Advisors, holds 96,363,945 shares, controlling over 6.68% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in HBAN, holding 73,931,077 shares or 5.12% stake. With a 3.10% stake in HBAN, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 44,792,669 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.35% of HBAN stock, is the second-largest Mutual Fund holder. It holds 33,870,916 shares valued at 379.35 million. Vanguard Mid Cap Index Fund holds 2.33% of the stake in HBAN, owning 33,666,031 shares worth 377.06 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HBAN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With HBAN analysts setting a high price target of $16.00 and a low target of $11.00, the average target price over the next 12 months is $12.79. Based on these targets, HBAN could surge 53.55% to reach the target high and rise by 5.57% to reach the target low. Reaching the average price target will result in a growth of 22.74% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Dividends & Yield:

In terms of dividends, HBAN has a current ratio of $0.62, which is $0.62 over the trailing 12-months, while a dividend of $0.57 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and HBAN currently yields $5.95. In the past year, HBAN’s dividend yield has been $5.95, but when looking at the stock over the past five years, its yield has been $4.37. Accordingly, HBAN has a current buyback yield of $0.0. This was $0.0 for the TTM, and it was $3.23 for the past five years.

Summary of Insider Activity:

Insiders traded HBAN stock several times over the past three months with 36 Buys and 41 Sells. In these transactions, 2,746,869 shares were bought while 705,958 shares were sold. The number of buy transactions has increased to 66 while that of sell transactions has risen to 64 over the past year. The total number of shares bought during that period was 2,971,033 while 1,227,705 shares were sold.

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