For Huntington Bancshares Incorporated [HBAN], Analyst sees a drop to $13.50. What next?


Huntington Bancshares Incorporated [NASDAQ: HBAN] surged by $0.25 during the normal trading session on Monday and reaching a high of $13.31 during the day while it closed the day at $13.27. The company report on July 21, 2022 that HUNTINGTON BANCSHARES INCORPORATED DECLARES QUARTERLY CASH DIVIDENDS ON ITS COMMON AND PREFERRED STOCKS.

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Huntington Bancshares Incorporated announced that the Board of Directors declared a quarterly cash dividend on the company’s common stock (Nasdaq: HBAN) of $0.155 per common share, unchanged from the prior quarter.  The common stock cash dividend is payable October 3, 2022, to shareholders of record on September 19, 2022.

In addition, the Board declared quarterly cash dividends on five series of its preferred stock.  The Board declared a quarterly cash dividend on its Floating Rate Series B Non-Cumulative Perpetual Preferred Stock (CUSIP#: 446150500) of $13.0300 per share (equivalent to $0.32575 per depositary receipt share).  The Board declared a quarterly cash dividend on its 5.70% Series E Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock (CUSIP#: 446150AL8) of $1,425.00 per share (equivalent to $14.25 per depositary receipt share).  The Board declared a quarterly cash dividend on its 5.625% Series F Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock (CUSIP#: 446150AT1) of $1,406.25 per share (equivalent to $14.0625 per depositary share).  The Board declared a quarterly cash dividend on its 4.450% Series G Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock (CUSIP#: 446150AV6) of $1,112.50 per share (equivalent to $11.1250 per depositary share).  Finally, the Board declared a quarterly cash dividend on its 4.5% Series H Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock (Nasdaq: HBANP) of $11.25 per share (equivalent to $0.28125 per depositary share).  All five preferred stock cash dividends are payable October 17, 2022, to their respective shareholders of record on October 1, 2022.

Huntington Bancshares Incorporated stock has also gained 5.48% of its value over the past 7 days. However, HBAN stock has declined by -3.56% in the 3 months of the year. Over the past six months meanwhile, it has lost -12.58% and lost -13.94% year-on date.

The market cap for HBAN stock reached $19.57 billion, with 1.44 billion shares outstanding and 1.42 billion shares in the current float. Compared to the average trading volume of 13.20M shares, HBAN reached a trading volume of 9161104 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 $14.94 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 0.42, with the Price to Sales ratio for HBAN stock in the period of the last 12 months amounting to 3.98. The Price to Book ratio for the last quarter was 1.17, with the Price to Cash per share for the same quarter was set at 4.68. Price to Free Cash Flow for HBAN in the course of the last twelve months was 18.37.

HBAN stock trade performance evaluation

Huntington Bancshares Incorporated [HBAN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.48. With this latest performance, HBAN shares gained by 11.14% in over the last four-week period, additionally sinking by -12.58% over the last 6 months – not to mention a drop of -3.98% 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 60.38, with the RSI for the last a single of trading hit 65.31, and the three-weeks RSI is set at 56.25 for Huntington Bancshares Incorporated [HBAN]. The present Moving Average for the last 50 days of trading for this stock 12.80, while it was recorded at 13.13 for the last single week of trading, and 14.69 for the last 200 days.

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

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 $15,437 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 $1.82 billion in HBAN stocks shares; and STATE STREET CORP, currently with $1.05 billion 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 462 institutional holders increased their position in Huntington Bancshares Incorporated [NASDAQ:HBAN] by around 75,059,370 shares. Additionally, 334 investors decreased positions by around 56,891,346 shares, while 147 investors held positions by with 1,031,380,584 shares. The mentioned changes placed institutional holdings at 1,163,331,300 shares, according to the latest SEC report filing. HBAN stock had 89 new institutional investments in for a total of 21,807,550 shares, while 70 institutional investors sold positions of 12,156,941 shares during the same period.