Huntington Bancshares Incorporated [HBAN] Is Currently 0.64 below its 200 Period Moving Avg: What Does This Mean?

Huntington Bancshares Incorporated [NASDAQ: HBAN] gained 0.64% on the last trading session, reaching $14.11 price per share at the time. The company report on January 20, 2023 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 April 3, 2023, to shareholders of record on March 20, 2023.

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 $18.82427465 per share (equivalent to $0.4706069 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 April 17, 2023, to their respective shareholders of record on April 1, 2023.

Huntington Bancshares Incorporated represents 1.44 billion in outstanding shares, while the company has a total market value of $20.23 billion with the latest information. HBAN stock price has been found in the range of $13.75 to $14.445.

If compared to the average trading volume of 15.87M shares, HBAN reached a trading volume of 24894644 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $15.94 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 2.70. 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.

DA Davidson have made an estimate for Huntington Bancshares Incorporated shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 21, 2022. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $15.50 to $14.50. The new note on the price target was released on December 13, 2022, representing the official price target for Huntington Bancshares Incorporated stock. Previously, the target price had yet another raise from $16 to $19, while Morgan Stanley kept a Overweight rating on HBAN stock. On October 24, 2022, analysts increased their price target for HBAN shares from 15 to 16.

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 3.82. The Price to Book ratio for the last quarter was 1.36, 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 11.65.

Trading performance analysis for HBAN stock

Huntington Bancshares Incorporated [HBAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.69. With this latest performance, HBAN shares gained by 3.07% in over the last four-week period, additionally plugging by 5.77% over the last 6 months – not to mention a drop of -17.53% 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 43.91, with the RSI for the last a single of trading hit 41.46, and the three-weeks RSI is set at 45.51 for Huntington Bancshares Incorporated [HBAN]. The present Moving Average for the last 50 days of trading for this stock 14.57, while it was recorded at 14.26 for the last single week of trading, and 13.74 for the last 200 days.

Huntington Bancshares Incorporated [HBAN]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at Huntington Bancshares Incorporated [HBAN]

There are presently around $16,503 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 $1.98 billion in HBAN stocks shares; and STATE STREET CORP, currently with $1.08 billion in HBAN stock with ownership of nearly 3.056% of the company’s market capitalization.

470 institutional holders increased their position in Huntington Bancshares Incorporated [NASDAQ:HBAN] by around 57,762,783 shares. Additionally, 314 investors decreased positions by around 39,114,623 shares, while 158 investors held positions by with 1,072,747,283 shares. The mentioned changes placed institutional holdings at 1,169,624,689 shares, according to the latest SEC report filing. HBAN stock had 81 new institutional investments in for a total of 7,713,757 shares, while 61 institutional investors sold positions of 12,774,848 shares during the same period.


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