Huntington Bancshares Incorporated [HBAN] Stock trading around $14.47 per share: What’s Next?

Huntington Bancshares Incorporated [NASDAQ: HBAN] stock went on a downward path that fall over -0.21% on Friday, amounting to a one-week price decrease of less than -7.42%. The company report on June 10, 2021 that Huntington Announces Redemption Of All Depositary Shares Representing Interests In Series D Preferred Stock.

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Huntington Bancshares Incorporated (Nasdaq: HBAN) announced the redemption on July 15, 2021 of all 24,000,000 outstanding depositary shares (Nasdaq: HBANO; CUSIP: 446150708), each representing a 1/40th interest in a share of Huntington’s 6.250% Series D Non-Cumulative Perpetual Preferred Stock, par value $0.01 per share.

The depositary shares will be redeemed at a redemption price of $25.00 per depositary share (equivalent to $1,000 per share of Series D Preferred Stock) plus declared and unpaid dividends of $0.390625 per depositary share (equivalent to $15.625 per share of Series D Preferred Stock) for the period beginning on April 15, 2021 to, but not including, July 15, 2021. On and after the redemption date, all dividends on the shares of Series D Preferred Stock will cease to accrue. The depositary shares are held through the Depository Trust Company (“DTC”) and will be redeemed in accordance with the procedures of DTC.

Over the last 12 months, HBAN stock rose by 52.64%. The one-year Huntington Bancshares Incorporated stock forecast points to a potential upside of 16.65. The average equity rating for HBAN stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $14.76 billion, with 1.02 billion shares outstanding and 1.01 billion shares in the current float. Compared to the average trading volume of 15.80M shares, HBAN stock reached a trading volume of 23918996 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Huntington Bancshares Incorporated [HBAN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HBAN shares is $17.36 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HBAN stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for Huntington Bancshares Incorporated shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 05, 2021. The new note on the price target was released on December 17, 2020, representing the official price target for Huntington Bancshares Incorporated stock. Previously, the target price had yet another raise from $11 to $16.50, while JP Morgan kept a Overweight rating on HBAN stock.

The Average True Range (ATR) for Huntington Bancshares Incorporated is set at 0.38, with the Price to Sales ratio for HBAN stock in the period of the last 12 months amounting to 4.17. The Price to Book ratio for the last quarter was 1.35, with the Price to Cash per share for the same quarter was set at 9.78.

HBAN Stock Performance Analysis:

Huntington Bancshares Incorporated [HBAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.42. With this latest performance, HBAN shares dropped by -4.93% in over the last four-week period, additionally plugging by 12.08% over the last 6 months – not to mention a rise of 52.64% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HBAN stock in for the last two-week period is set at 31.43, with the RSI for the last a single of trading hit 22.86, and the three-weeks RSI is set at 37.12 for Huntington Bancshares Incorporated [HBAN]. The present Moving Average for the last 50 days of trading for this stock 15.62, while it was recorded at 14.95 for the last single week of trading, and 13.30 for the last 200 days.

Insight into Huntington Bancshares Incorporated Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Huntington Bancshares Incorporated [HBAN] shares currently have an operating margin of +6.41. Huntington Bancshares Incorporated’s Net Margin is presently recorded at +16.11.

Return on Total Capital for HBAN is now 1.41, given the latest momentum, and Return on Invested Capital for the company is 4.18. Return on Equity for this stock inclined to 6.59, with Return on Assets sitting at 0.70. When it comes to the capital structure of this company, Huntington Bancshares Incorporated [HBAN] has a Total Debt to Total Equity ratio set at 67.38. Additionally, HBAN Total Debt to Total Capital is recorded at 40.26, with Total Debt to Total Assets ending up at 7.12. Long-Term Debt to Equity for the company is recorded at 61.68, with the Long-Term Debt to Total Capital now at 30.64.

HBAN Stock EPS

With the latest financial reports released by the company, Huntington Bancshares Incorporated posted 0.13/share EPS, while the average EPS was predicted by analysts to be reported at 0.04/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 225.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HBAN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Huntington Bancshares Incorporated go to -2.15%.

Huntington Bancshares Incorporated [HBAN] Insider Position Details

There are presently around $17,408 million, or 84.00% of HBAN stock, in the hands of institutional investors. The top three institutional holders of HBAN stocks are: VANGUARD GROUP INC with ownership of 155,940,628, which is approximately 0.533% of the company’s market cap and around 1.10% of the total institutional ownership; BLACKROCK INC., holding 138,545,102 shares of the stock with an approximate value of $2.0 billion in HBAN stocks shares; and STATE STREET CORP, currently with $1.12 billion in HBAN stock with ownership of nearly 11.475% of the company’s market capitalization.

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Positions in Huntington Bancshares Incorporated stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 364 institutional holders increased their position in Huntington Bancshares Incorporated [NASDAQ:HBAN] by around 134,518,566 shares. Additionally, 387 investors decreased positions by around 81,675,563 shares, while 136 investors held positions by with 986,825,406 shares. The mentioned changes placed institutional holdings at 1,203,019,535 shares, according to the latest SEC report filing. HBAN stock had 75 new institutional investments in for a total of 6,548,162 shares, while 76 institutional investors sold positions of 19,591,405 shares during the same period.

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