Huntington Bancshares, Inc. [NASDAQ: HBAN] plunged by -$0.01 during the normal trading session on while it closed the day at $13.05. The company report on March 13, 2024 at 11:15 AM that Capstone Partners Reports: Industrials M&A Demonstrates Defensibility Amid Macroeconomic Headwinds.
Capstone Partners, a leading middle market investment banking firm, released its 2023 Annual Industrials M&A Report, which shares insights into public market valuations, the macroeconomic climate, merger and acquisition (M&A) activity, and an outlook for 2024 industry activity. With extensive knowledge and transaction experience, Capstone Partners’ Industrials Investment Banking Team provides unique commentary on nine key sectors: Chemicals, Engineered Products, Environmental Health & Safety, HVAC, Industrial & Environmental Services, Metals & Metals Processing, Packaging, Precision Manufacturing, and Waste & Recycling.
Public market valuations in the Industrials industry for 2023 were relatively muted to begin the year, as interest rates rose, and the prospect of a hard landing caused a continued pullback. By Q3 2023, public market valuations ticked up to 11.3x EV/EBITDA from 10.9x in Q2 and normalized by the end of Q4 to 11.1x as activity picked up and uncertainty around the health of the economy abated. These higher rates forced companies to shift their focus to debt reduction rather than acquisitions as a heightened rate environment persisted. The Dow Jones Industrial Average ended the year at 14.7x, capitalizing on upward market trends.
Huntington Bancshares, Inc. stock has also loss -3.33% of its value over the past 7 days. However, HBAN stock has inclined by 5.84% in the 3 months of the year. Over the past six months meanwhile, it has gained 20.17% and gained 2.59% year-on date.
The market cap for HBAN stock reached $19.00 billion, with 1.45 billion shares outstanding and 1.44 billion shares in the current float. Compared to the average trading volume of 17.85M shares, HBAN reached a trading volume of 55282211 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, Inc. [HBAN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HBAN shares is $14.52 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 2.22. 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, Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 27, 2024. While these analysts kept the previous recommendation, UBS raised their target price from $14 to $15. The new note on the price target was released on February 14, 2024, representing the official price target for Huntington Bancshares, Inc. stock. Previously, the target price had yet another raise from $10.50 to $15, while Evercore ISI kept a Outperform rating on HBAN stock. On January 02, 2024, analysts increased their price target for HBAN shares from 12 to 15.
The Average True Range (ATR) for Huntington Bancshares, Inc. is set at 0.30, with the Price to Sales ratio for HBAN stock in the period of the last 12 months amounting to 1.76. The Price to Book ratio for the last quarter was 1.11. Price to Free Cash Flow for HBAN in the course of the last twelve months was 7.02.
HBAN stock trade performance evaluation
Huntington Bancshares, Inc. [HBAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.33. With this latest performance, HBAN shares gained by 2.59% in over the last four-week period, additionally plugging by 20.17% over the last 6 months – not to mention a rise of 20.28% 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 49.19, with the RSI for the last a single of trading hit 42.68, and the three-weeks RSI is set at 52.05 for Huntington Bancshares, Inc. [HBAN]. The present Moving Average for the last 50 days of trading for this stock 12.87, while it was recorded at 13.29 for the last single week of trading, and 11.51 for the last 200 days.
Huntington Bancshares, Inc. [HBAN]: An insightful look at the core fundamentals
Huntington Bancshares, Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.08.
Earnings per share (EPS) analysis for Huntington Bancshares, Inc. [HBAN] stock
With the latest financial reports released by the company, Huntington Bancshares, Inc. posted 0.39/share EPS, while the average EPS was predicted by analysts to be reported at 0.37/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.40%. 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, Inc. go to -5.50%.
Huntington Bancshares, Inc. [HBAN]: Institutional Ownership
The top three institutional holders of HBAN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in HBAN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in HBAN stock with ownership which is approximately 5.8325%.
