why Huntington Bancshares Incorporated [HBAN] is a Good Choice for Investors After New Price Target of $14.94

Huntington Bancshares Incorporated [NASDAQ: HBAN] surged by $0.01 during the normal trading session on Monday and reaching a high of $14.40 during the day while it closed the day at $14.36. The company report on August 3, 2022 that Huntington National Bank, PAi partner to offer 401(k) solution for small businesses, employees.

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Huntington provides investment management while PAi handles plan administration.

To support small businesses with competitive employer-sponsored retirement programs, Huntington National Bank and PAi Retirement Services have partnered to launch the Huntington 401(k) Center for Business solution designed specifically for business owners and their employees.

Huntington Bancshares Incorporated stock has also gained 6.69% of its value over the past 7 days. However, HBAN stock has inclined by 10.04% in the 3 months of the year. Over the past six months meanwhile, it has lost -9.80% and lost -6.87% year-on date.

The market cap for HBAN stock reached $20.48 billion, with 1.44 billion shares outstanding and 1.43 billion shares in the current float. Compared to the average trading volume of 12.11M shares, HBAN reached a trading volume of 6075915 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 2.60. 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.

Argus have made an estimate for Huntington Bancshares Incorporated shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 28, 2022. While these analysts kept the previous recommendation, Piper Sandler dropped their target price from $14 to $13.50. The new note on the price target was released on July 08, 2022, representing the official price target for Huntington Bancshares Incorporated stock. Previously, the target price had yet another drop from $17.50 to $14.50, while JP Morgan kept a Neutral rating on HBAN stock.

The Average True Range (ATR) for Huntington Bancshares Incorporated is set at 0.33, 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 1.31, with the Price to Cash per share for the same quarter was set at 4.48. Price to Free Cash Flow for HBAN in the course of the last twelve months was 11.80.

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 6.69. With this latest performance, HBAN shares gained by 14.79% in over the last four-week period, additionally sinking by -9.80% over the last 6 months – not to mention a drop of -5.21% 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 72.33, with the RSI for the last a single of trading hit 80.20, and the three-weeks RSI is set at 66.26 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 14.09 for the last single week of trading, and 14.49 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 $16,741 million, or 82.60% of HBAN stock, in the hands of institutional investors. The top three institutional holders of HBAN stocks are: VANGUARD GROUP INC with ownership of 165,925,875, which is approximately 1.923% of the company’s market cap and around 0.80% of the total institutional ownership; BLACKROCK INC., holding 137,486,471 shares of the stock with an approximate value of $1.97 billion in HBAN stocks shares; and STATE STREET CORP, currently with $1.07 billion in HBAN stock with ownership of nearly -6.187% of the company’s market capitalization.

427 institutional holders increased their position in Huntington Bancshares Incorporated [NASDAQ:HBAN] by around 65,632,549 shares. Additionally, 384 investors decreased positions by around 64,673,361 shares, while 146 investors held positions by with 1,035,470,399 shares. The mentioned changes placed institutional holdings at 1,165,776,309 shares, according to the latest SEC report filing. HBAN stock had 78 new institutional investments in for a total of 9,315,126 shares, while 83 institutional investors sold positions of 10,941,890 shares during the same period.


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