Huntington Bancshares Incorporated [HBAN] gain 19.08% so far this year. What now?

Huntington Bancshares Incorporated [NASDAQ: HBAN] plunged by -$0.39 during the normal trading session on Tuesday and reaching a high of $15.49 during the day while it closed the day at $15.04. The company report on September 13, 2021 that Huntington Announces Redemption Of All Depositary Shares Representing Interests In Series C Preferred Stock.

Huntington Bancshares Incorporated (Nasdaq: HBAN) announced the redemption on October 15, 2021 of all 4,000,000 outstanding depositary shares (Nasdaq: HBANN; CUSIP: 446150872), each representing a 1/40th interest in a share of Huntington’s 5.875% Series C 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 C Preferred Stock). Holders of the depositary shares will also receive declared and unpaid dividends of $0.36725 per depositary share (equivalent to $14.69 per share of Series C Preferred Stock) for the period beginning on July 15, 2021 to, but not including, October 15, 2021. On and after the redemption date, all dividends on the shares of Series C 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.

Huntington Bancshares Incorporated stock has also loss -1.70% of its value over the past 7 days. However, HBAN stock has inclined by 4.01% in the 3 months of the year. Over the past six months meanwhile, it has lost -6.55% and gained 19.08% year-on date.

The market cap for HBAN stock reached $22.19 billion, with 1.13 billion shares outstanding and 1.01 billion shares in the current float. Compared to the average trading volume of 14.39M shares, HBAN reached a trading volume of 16087236 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $17.08 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 2.30. 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.

Goldman have made an estimate for Huntington Bancshares Incorporated shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 18, 2021. While these analysts kept the previous recommendation, Keefe Bruyette raised their target price to Mkt Perform. The new note on the price target was released on July 07, 2021, representing the official price target for Huntington Bancshares Incorporated stock. Previously, the target price had yet another raise to $18, while Raymond James analysts kept a Strong Buy rating on HBAN stock. On January 05, 2021, analysts increased their price target for HBAN shares from 13.50 to 15.

The Average True Range (ATR) for Huntington Bancshares Incorporated is set at 0.35, with the Price to Sales ratio for HBAN stock in the period of the last 12 months amounting to 6.21. The Price to Book ratio for the last quarter was 0.96, with the Price to Cash per share for the same quarter was set at 10.67. Price to Free Cash Flow for HBAN in the course of the last twelve months was 27.16.

HBAN stock trade performance evaluation

Huntington Bancshares Incorporated [HBAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.70. With this latest performance, HBAN shares dropped by -0.73% in over the last four-week period, additionally sinking by -6.55% over the last 6 months – not to mention a rise of 48.62% 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 48.76, with the RSI for the last a single of trading hit 43.01, and the three-weeks RSI is set at 50.79 for Huntington Bancshares Incorporated [HBAN]. The present Moving Average for the last 50 days of trading for this stock 14.64, while it was recorded at 15.28 for the last single week of trading, and 14.71 for the last 200 days.

Huntington Bancshares Incorporated [HBAN]: An insightful look at the core fundamentals

Earnings per share (EPS) analysis for Huntington Bancshares Incorporated [HBAN] stock

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 Ownership positions

There are presently around $17,436 million, or 79.10% of HBAN stock, in the hands of institutional investors. The top three institutional holders of HBAN stocks are: VANGUARD GROUP INC with ownership of 164,762,064, which is approximately 5.657% of the company’s market cap and around 0.90% of the total institutional ownership; BLACKROCK INC., holding 121,936,406 shares of the stock with an approximate value of $1.83 billion in HBAN stocks shares; and STATE STREET CORP, currently with $1.15 billion in HBAN stock with ownership of nearly -0.905% of the company’s market capitalization.

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435 institutional holders increased their position in Huntington Bancshares Incorporated [NASDAQ:HBAN] by around 127,999,126 shares. Additionally, 372 investors decreased positions by around 166,345,110 shares, while 97 investors held positions by with 864,986,726 shares. The mentioned changes placed institutional holdings at 1,159,330,962 shares, according to the latest SEC report filing. HBAN stock had 101 new institutional investments in for a total of 13,618,852 shares, while 105 institutional investors sold positions of 41,155,532 shares during the same period.

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