Huntington Bancshares Incorporated [NASDAQ: HBAN] stock went on an upward path that rose over 3.08% on Friday, amounting to a one-week price increase of more than 1.79%. The company report on November 3, 2022 that HUNTINGTON BANCSHARES INCORPORATED INCREASES ITS PRIME RATE TO 7 PERCENT.
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Huntington Bancshares Incorporated (Nasdaq: HBAN) announced that its prime rate is increasing from 6.25 percent to 7 percent, effective November 3, 2022.
The rate was last changed on September 22, 2022, when Huntington increased its prime rate from 5.5 percent to 6.25 percent.
Over the last 12 months, HBAN stock dropped by -2.35%. The one-year Huntington Bancshares Incorporated stock forecast points to a potential upside of 1.16. The average equity rating for HBAN stock is currently 2.70, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $22.04 billion, with 1.44 billion shares outstanding and 1.43 billion shares in the current float. Compared to the average trading volume of 17.27M shares, HBAN stock reached a trading volume of 16225083 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $15.56 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 2.70. 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.
Stephens have made an estimate for Huntington Bancshares Incorporated shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on October 24, 2022. While these analysts kept the previous recommendation, Wedbush raised their target price to Neutral. The new note on the price target was released on September 28, 2022, representing the official price target for Huntington Bancshares Incorporated stock. Previously, the target price had yet another raise to $15, while Argus analysts kept a Buy rating on HBAN stock. On July 08, 2022, analysts decreased their price target for HBAN shares from 14 to 13.50.
The Average True Range (ATR) for Huntington Bancshares Incorporated is set at 0.44, with the Price to Sales ratio for HBAN stock in the period of the last 12 months amounting to 4.16. The Price to Book ratio for the last quarter was 1.48, with the Price to Cash per share for the same quarter was set at 4.93. Price to Free Cash Flow for HBAN in the course of the last twelve months was 10.91.
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 1.79. With this latest performance, HBAN shares gained by 13.09% in over the last four-week period, additionally plugging by 15.21% over the last 6 months – not to mention a drop of -2.35% 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 65.08, with the RSI for the last a single of trading hit 68.46, and the three-weeks RSI is set at 62.44 for Huntington Bancshares Incorporated [HBAN]. The present Moving Average for the last 50 days of trading for this stock 13.88, while it was recorded at 15.15 for the last single week of trading, and 13.92 for the last 200 days.
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 $17,942 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 $2.11 billion in HBAN stocks shares; and STATE STREET CORP, currently with $1.14 billion in HBAN stock with ownership of nearly -6.187% of the company’s market capitalization.
437 institutional holders increased their position in Huntington Bancshares Incorporated [NASDAQ:HBAN] by around 64,117,245 shares. Additionally, 342 investors decreased positions by around 54,977,923 shares, while 161 investors held positions by with 1,047,471,999 shares. The mentioned changes placed institutional holdings at 1,166,567,167 shares, according to the latest SEC report filing. HBAN stock had 76 new institutional investments in for a total of 8,395,385 shares, while 64 institutional investors sold positions of 5,296,150 shares during the same period.