Huntington Bancshares Incorporated (HBAN) Price Target: Is It Set To Rise Or Fall In Price?

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Huntington Bancshares Incorporated (NASDAQ:HBAN) finished Thursday with an addition of $0.16 to close at $14.14, an upside of 1.14 percent. An average of 8,247,560 shares of common stock have been traded in the last five days. There was a gain of $0.14 in the past week, and it reached a new high 9 times over the past 12 months. The last 20 days have seen an average of 16,421,279 shares traded, while the 50-day average volume stands at 16,493,318.

HBAN stock has decreased by -7.58% in the last month. The company shares reached their 1-month lowest point of $13.43 on 12/16/22. With the stock rallying to its 52-week high on 01/18/22, shares of the company touched a low of $11.67 and a high of $17.79 in 52 weeks. It has reached a new high 8 times so far this year and lost -8.30% or -$1.28 in price. In spite of this, the price is down -20.52% from the 52-week high.

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Insider Transactions

HBAN stock investors should be aware that Huntington Bancshares Incorporated (HBAN) stock had its last reported insider trading activity 31 days ago on Nov 29. In this transaction, the insider spent $762,480. Executive V.P., Dennis Donald Lee, disposed of 2,100 shares at a price of $15.14 on Nov 15. The insider now owns more than $31,786 worth of shares. Prior to that, Senior Exec. V. P. Houston Helga went on to Sale 47,000 shares at $15.14 each on Nov 15. An amount of $711,364 was transacted.

Valuation Metrics

Huntington Bancshares Incorporated (HBAN) has a trailing price-to-earnings (P/E) ratio of 11.00. The stock’s beta is 1.15. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.81, the price-to-book (PB) ratio at 1.36, and the price-to-cash flow ratio at 10.00.

The company has a payout ratio of 47.00%. The company’s most recent quarterly dividend payment was $0.1550 a share, without any change from last year. Its latest increase dividend $0.0050 reported on Friday October 22 2021.

Financial Health

Further, the company has a long term debt to equity ratio of 0.50 and a total debt to equity ratio of 0.50 for the quarter ending September 29. Its gross profit as reported stood at $4.1 billion compared to revenue of $4.19 billion.

Earnings Surprise

For the three-month period that ended September 29, Huntington Bancshares Incorporated had $10.17 billion in total debt. The analyst consensus anticipated Huntington Bancshares Incorporated’s latest quarter earnings to come in at $0.38 per share, but it turned out to be $0.39, a 2.60% surprise. At the end of the quarter ending September 29, Huntington Bancshares Incorporated’s stock balance sheet showed total debt was $10.59 billion. Shareholders own equity worth $1.44 billion.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Huntington Bancshares Incorporated (HBAN) price momentum. RSI 9-day as of the close on 29 December was 47.73%, suggesting the stock is Neutral, with historical volatility in this time frame at 12.07%.

As of today, HBAN’s price is $14.02 +1.00% or $0.14 from its 5-day moving average. HBAN is currently trading -8.66% lower than its 20-day SMA and +5.05% higher than its 100-day SMA. However, the stock’s current price level is +0.21% above the SMA50 and -5.54% below the SMA200.

The stochastic %K and %D were 44.14% and 40.87%, respectively, and the average true range (ATR) was 0.27. With the 14-day stochastic at 53.38% and the average true range at 0.30, the RSI (14) stands at 45.03%. The stock has reached 0.14 on the 9-day MACD Oscillator while the 14-day reading was at 0.03.

Analyst Ratings

DA Davidson launched coverage on Huntington Bancshares Incorporated (NASDAQ: HBAN) in its analyst report released on December 21, 2022. The firm assigned the stock a Neutral rating. The consensus rating for Huntington Bancshares Incorporated (HBAN) among analysts is Hold. According to current brokerage recommendations, 4 brokerage firms advise that investors sell HBAN, while 9 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 6 others rate it as a “buy”.

What is HBAN’s price target for the next 12 months?

Analysts predict a range of price targets between $14.00 and $19.00, with a median target of $16.00. Taking a look at these predictions, the average price target given by analysts for Huntington Bancshares Incorporated (HBAN) stock is $16.16.

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