Huntington Bancshares Incorporated [HBAN] moved up 9.47: Why It’s Important

Huntington Bancshares Incorporated [NASDAQ: HBAN] price surged by 9.47 percent to reach at $1.25. The company report on October 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 January 3, 2023, to shareholders of record on December 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 $16.94785211 per share (equivalent to $0.4236963 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 January 17, 2023, to their respective shareholders of record on January 1, 2023.

A sum of 41218255 shares traded at recent session while its average daily volume was at 16.05M shares. Huntington Bancshares Incorporated shares reached a high of $14.51 and dropped to a low of $13.51 until finishing in the latest session at $14.45.

The one-year HBAN stock forecast points to a potential upside of 1.97. The average equity rating for HBAN stock is currently 2.60, 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 $14.74 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.

Wedbush have made an estimate for Huntington Bancshares Incorporated shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 28, 2022. The new note on the price target was released on July 28, 2022, representing the official price target for Huntington Bancshares Incorporated stock. Previously, the target price had yet another drop from $14 to $13.50, while Piper Sandler kept a Neutral rating on HBAN stock. On July 01, 2022, analysts decreased their price target for HBAN shares from 17.50 to 14.50.

The Average True Range (ATR) for Huntington Bancshares Incorporated is set at 0.55, with the Price to Sales ratio for HBAN stock in the period of the last 12 months amounting to 4.31. The Price to Book ratio for the last quarter was 1.32, with the Price to Cash per share for the same quarter was set at 4.36. Price to Free Cash Flow for HBAN in the course of the last twelve months was 12.20.

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 5.71. With this latest performance, HBAN shares gained by 7.76% in over the last four-week period, additionally plugging by 5.01% over the last 6 months – not to mention a drop of -12.37% 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 59.38, with the RSI for the last a single of trading hit 60.06, and the three-weeks RSI is set at 55.78 for Huntington Bancshares Incorporated [HBAN]. The present Moving Average for the last 50 days of trading for this stock 13.69, while it was recorded at 13.80 for the last single week of trading, and 14.02 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 $16,853 million, or 82.40% 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 $1.99 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.

Positions in Huntington Bancshares Incorporated stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 423 institutional holders increased their position in Huntington Bancshares Incorporated [NASDAQ:HBAN] by around 64,454,398 shares. Additionally, 363 investors decreased positions by around 63,595,666 shares, while 153 investors held positions by with 1,038,257,539 shares. The mentioned changes placed institutional holdings at 1,166,307,603 shares, according to the latest SEC report filing. HBAN stock had 76 new institutional investments in for a total of 8,407,862 shares, while 70 institutional investors sold positions of 8,804,207 shares during the same period.

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