Huntington Bancshares Incorporated [HBAN] stock Downgrade by Piper Sandler analyst, price target now $13.50

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Huntington Bancshares Incorporated [NASDAQ: HBAN] price surged by 5.21 percent to reach at $0.62. The company report on June 29, 2022 that HUNTINGTON BANCSHARES INCORPORATED TO ANNOUNCE 2022 SECOND QUARTER EARNINGS AND HOLD EARNINGS CONFERENCE CALL JULY 21, 2022.


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Huntington Bancshares Incorporated (NASDAQ: HBAN) expects to report its 2022 second quarter earnings on Thursday, July 21, 2022, prior to the market opening. A news release and supporting financial data will be available at that time on the Investor Relations section of the company’s website.

A sum of 12740333 shares traded at recent session while its average daily volume was at 13.47M shares. Huntington Bancshares Incorporated shares reached a high of $12.58 and dropped to a low of $12.035 until finishing in the latest session at $12.51.

The one-year HBAN stock forecast points to a potential upside of 15.93. The average equity rating for HBAN stock is currently 2.30, trading closer to a bullish pattern in the stock market.

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 $14.88 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.

Piper Sandler have made an estimate for Huntington Bancshares Incorporated shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 08, 2022. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $17.50 to $14.50. The new note on the price target was released on July 01, 2022, representing the official price target for Huntington Bancshares Incorporated stock. Previously, the target price had yet another raise to $14, while Wedbush analysts kept a Neutral rating on HBAN stock. On June 03, 2022, analysts decreased their price target for HBAN shares from 17 to 15.

The Average True Range (ATR) for Huntington Bancshares Incorporated is set at 0.41, with the Price to Sales ratio for HBAN stock in the period of the last 12 months amounting to 3.79. The Price to Book ratio for the last quarter was 1.11, with the Price to Cash per share for the same quarter was set at 5.05. Price to Free Cash Flow for HBAN in the course of the last twelve months was 9.00.

HBAN Stock Performance Analysis:

Huntington Bancshares Incorporated [HBAN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.96. With this latest performance, HBAN shares gained by 2.21% in over the last four-week period, additionally sinking by -26.80% over the last 6 months – not to mention a drop of -12.27% 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 51.29, with the RSI for the last a single of trading hit 56.43, and the three-weeks RSI is set at 48.38 for Huntington Bancshares Incorporated [HBAN]. The present Moving Average for the last 50 days of trading for this stock 12.84, while it was recorded at 12.23 for the last single week of trading, and 14.78 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 +26.42. Huntington Bancshares Incorporated’s Net Margin is presently recorded at +21.50.

Return on Equity for this stock inclined to 8.02, with Return on Assets sitting at 0.87.

HBAN Stock EPS

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 $14,551 million, or 83.10% of HBAN stock, in the hands of institutional investors. The top three institutional holders of HBAN stocks are: VANGUARD GROUP INC with ownership of 162,794,916, which is approximately 1.467% of the company’s market cap and around 0.80% of the total institutional ownership; BLACKROCK INC., holding 136,897,261 shares of the stock with an approximate value of $1.71 billion in HBAN stocks shares; and STATE STREET CORP, currently with $989.05 million in HBAN stock with ownership of nearly -0.655% of the company’s market capitalization.

Positions in Huntington Bancshares Incorporated stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 455 institutional holders increased their position in Huntington Bancshares Incorporated [NASDAQ:HBAN] by around 75,049,511 shares. Additionally, 334 investors decreased positions by around 59,374,029 shares, while 149 investors held positions by with 1,028,764,394 shares. The mentioned changes placed institutional holdings at 1,163,187,934 shares, according to the latest SEC report filing. HBAN stock had 87 new institutional investments in for a total of 21,347,704 shares, while 60 institutional investors sold positions of 11,916,737 shares during the same period.

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