DA Davidson slashes price target on Huntington Bancshares Incorporated [HBAN] – find out why.

Huntington Bancshares Incorporated [NASDAQ: HBAN] loss -2.69% or -0.37 points to close at $13.37 with a heavy trading volume of 43244119 shares. The company report on March 10, 2023 that HUNTINGTON BANCSHARES INCORPORATED TO ANNOUNCE 2023 FIRST QUARTER EARNINGS AND HOLD EARNINGS CONFERENCE CALL APRIL 20, 2023.

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Huntington Bancshares Incorporated (Nasdaq: HBAN) expects to report its 2023 first quarter earnings on Thursday, April 20, 2023, prior to the market opening. A news release and supporting financial data will be available at that time on the Investor Relations section of the company’s website.

Conference Call / Webcast InformationHuntington’s management will host an earnings conference call the same day at 11:00 a.m. ET.  The call, along with slides, may be accessed via a live Internet webcast in the Investor Relations section of Huntington’s website or through a dial-in telephone number at (877) 407-8029 conference ID #13737064.

It opened the trading session at $13.24, the shares rose to $13.68 and dropped to $12.66, the range by which the price of stock traded the whole day. The daily chart for HBAN points out that the company has recorded -5.45% loss over the past six months. However, it is still -14.57% lower than its most recent low trading price.

If we look at the average trading volume of 14.05M shares, HBAN reached to a volume of 43244119 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 $16.06 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 0.40, with the Price to Sales ratio for HBAN stock in the period of the last 12 months amounting to 3.32. The Price to Book ratio for the last quarter was 1.24, with the Price to Cash per share for the same quarter was set at 6.41. Price to Free Cash Flow for HBAN in the course of the last twelve months was 6.80.

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 -12.16. With this latest performance, HBAN shares dropped by -13.41% in over the last four-week period, additionally sinking by -5.45% over the last 6 months – not to mention a drop of -9.11% 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 24.13, with the RSI for the last a single of trading hit 16.44, and the three-weeks RSI is set at 30.46 for Huntington Bancshares Incorporated [HBAN]. The present Moving Average for the last 50 days of trading for this stock 14.81, while it was recorded at 14.24 for the last single week of trading, and 14.00 for the last 200 days.

Huntington Bancshares Incorporated [HBAN]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Huntington Bancshares Incorporated [HBAN] shares currently have an operating margin of +35.08. Huntington Bancshares Incorporated’s Net Margin is presently recorded at +28.40.

Return on Equity for this stock inclined to 12.09, with Return on Assets sitting at 1.25.

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 $15,826 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 169,503,604, which is approximately 1.071% of the company’s market cap and around 0.60% of the total institutional ownership; BLACKROCK INC., holding 136,933,885 shares of the stock with an approximate value of $1.83 billion in HBAN stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $1.01 billion in HBAN stock with ownership of nearly 5.006% of the company’s market capitalization.

Positions in Huntington Bancshares Incorporated stocks held by institutional investors increased at the end of Friday and at the time of the Friday reporting period, where 505 institutional holders increased their position in Huntington Bancshares Incorporated [NASDAQ:HBAN] by around 47,039,399 shares. Additionally, 330 investors decreased positions by around 45,954,822 shares, while 161 investors held positions by with 1,090,726,027 shares. The mentioned changes placed institutional holdings at 1,183,720,248 shares, according to the latest SEC report filing. HBAN stock had 126 new institutional investments in for a total of 12,095,392 shares, while 59 institutional investors sold positions of 5,211,354 shares during the same period.


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