Huntington Bancshares Incorporated [NASDAQ: HBAN] closed the trading session at $13.65 on 12/16/22. The day’s price range saw the stock hit a low of $13.43, while the highest price level was $13.68. The company report on December 15, 2022 that HUNTINGTON BANCSHARES INCORPORATED INCREASES ITS PRIME RATE TO 7.5 PERCENT.
Huntington Bancshares Incorporated (Nasdaq: HBAN) announced that its prime rate is increasing from 7 percent to 7.5 percent, effective December 15, 2022.
The rate was last changed on November 3, 2022, when Huntington increased its prime rate from 6.25 percent to 7 percent.
The stocks have a year to date performance of -11.48 percent and weekly performance of -6.19 percent. The stock has been moved at 14.32 percent over the last six months. The stock has performed -8.39 percent around the most recent 30 days and changed -2.71 percent over the most recent 3-months.
If compared to the average trading volume of 18.98M shares, HBAN reached to a volume of 34657804 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 $16.29 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.
JP Morgan have made an estimate for Huntington Bancshares Incorporated shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on December 13, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $16 to $19. The new note on the price target was released on December 05, 2022, representing the official price target for Huntington Bancshares Incorporated stock. Previously, the target price had yet another raise from $15 to $16, while Stephens kept a Equal-Weight rating on HBAN stock.
The Average True Range (ATR) for Huntington Bancshares Incorporated is set at 0.37, with the Price to Sales ratio for HBAN stock in the period of the last 12 months amounting to 3.74. 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 4.86. Price to Free Cash Flow for HBAN in the course of the last twelve months was 9.81.
HBAN stock trade performance evaluation
Huntington Bancshares Incorporated [HBAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.19. With this latest performance, HBAN shares dropped by -8.39% in over the last four-week period, additionally plugging by 14.32% over the last 6 months – not to mention a drop of -11.25% 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 29.33, with the RSI for the last a single of trading hit 19.22, and the three-weeks RSI is set at 36.67 for Huntington Bancshares Incorporated [HBAN]. The present Moving Average for the last 50 days of trading for this stock 14.63, while it was recorded at 14.03 for the last single week of trading, and 13.82 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 +26.79. Huntington Bancshares Incorporated’s Net Margin is presently recorded at +21.81.
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 $16,148 million, or 83.70% of HBAN stock, in the hands of institutional investors. The top three institutional holders of HBAN stocks are: VANGUARD GROUP INC with ownership of 167,706,810, which is approximately 1.073% of the company’s market cap and around 0.60% of the total institutional ownership; BLACKROCK INC., holding 140,041,365 shares of the stock with an approximate value of $1.91 billion in HBAN stocks shares; and STATE STREET CORP, currently with $1.04 billion in HBAN stock with ownership of nearly 3.056% 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 464 institutional holders increased their position in Huntington Bancshares Incorporated [NASDAQ:HBAN] by around 57,644,507 shares. Additionally, 316 investors decreased positions by around 39,722,338 shares, while 162 investors held positions by with 1,085,612,187 shares. The mentioned changes placed institutional holdings at 1,182,979,032 shares, according to the latest SEC report filing. HBAN stock had 75 new institutional investments in for a total of 7,784,540 shares, while 67 institutional investors sold positions of 12,851,619 shares during the same period.