Market Analysts see Huntington Bancshares Incorporated [HBAN] falling to $13. Time to buy?

Huntington Bancshares Incorporated [NASDAQ: HBAN] gained 1.36% or 0.15 points to close at $11.19 with a heavy trading volume of 14405329 shares. The company report on April 6, 2023 that Christian Corts Named Regional Banking Director for Huntington National Bank.

Experienced leader brings deep expertise and strong record of performance in all aspects of banking and operations to this newly created role.

Huntington National Bank (Nasdaq: HBAN) has selected Christian Corts as its new director, overseeing its regional banking teams across Huntington’s 11-state footprint. Most recently, Corts served as the North Texas regional president at Truist Financial Corporation.

It opened the trading session at $11.15, the shares rose to $11.3366 and dropped to $11.02, the range by which the price of stock traded the whole day. The daily chart for HBAN points out that the company has recorded -18.44% loss over the past six months. However, it is still -12.58% lower than its most recent low trading price.

If we look at the average trading volume of 20.35M shares, HBAN reached to a volume of 14405329 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 $13.79 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.

Keefe Bruyette have made an estimate for Huntington Bancshares Incorporated shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on April 06, 2023. While these analysts kept the previous recommendation, DA Davidson raised their target price to Neutral. The new note on the price target was released on December 21, 2022, representing the official price target for Huntington Bancshares Incorporated stock. Previously, the target price had yet another drop from $15.50 to $14.50, while JP Morgan kept a Underweight rating on HBAN stock. On December 05, 2022, analysts increased their price target for HBAN shares from 16 to 19.

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 2.68. The Price to Book ratio for the last quarter was 1.04, with the Price to Cash per share for the same quarter was set at 6.65. Price to Free Cash Flow for HBAN in the course of the last twelve months was 5.49.

Trading performance analysis for HBAN stock

Huntington Bancshares Incorporated [HBAN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.45. With this latest performance, HBAN shares dropped by -22.51% in over the last four-week period, additionally sinking by -18.44% over the last 6 months – not to mention a drop of -22.13% 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 37.75, with the RSI for the last a single of trading hit 42.65, and the three-weeks RSI is set at 36.37 for Huntington Bancshares Incorporated [HBAN]. The present Moving Average for the last 50 days of trading for this stock 13.53, while it was recorded at 11.12 for the last single week of trading, and 13.80 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 Total Capital for HBAN is now 9.68, given the latest momentum, and Return on Invested Capital for the company is 8.54. Return on Equity for this stock inclined to 12.09, with Return on Assets sitting at 1.25. When it comes to the capital structure of this company, Huntington Bancshares Incorporated [HBAN] has a Total Debt to Total Equity ratio set at 68.32. Additionally, HBAN Total Debt to Total Capital is recorded at 40.59, with Total Debt to Total Assets ending up at 6.62. Long-Term Debt to Equity for the company is recorded at 59.86, with the Long-Term Debt to Total Capital now at 31.21.

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 $13,156 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 $1.53 billion in HBAN stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $849.41 million 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 Thursday and at the time of the Thursday reporting period, where 500 institutional holders increased their position in Huntington Bancshares Incorporated [NASDAQ:HBAN] by around 46,719,026 shares. Additionally, 326 investors decreased positions by around 45,877,665 shares, while 161 investors held positions by with 1,083,058,371 shares. The mentioned changes placed institutional holdings at 1,175,655,062 shares, according to the latest SEC report filing. HBAN stock had 125 new institutional investments in for a total of 11,761,424 shares, while 57 institutional investors sold positions of 5,210,762 shares during the same period.