Huntington Bancshares Incorporated (HBAN): What the Financials Tell Us

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Huntington Bancshares Incorporated (NASDAQ:HBAN) saw an upside of 4.46% to close Monday at $14.74 after adding $0.63 on the day. The 5-day average trading volume is 20,811,221 shares of the company’s common stock. It has gained $14.76 in the past week and touched a new high 2 times within the past 5 days. An average of 13,278,590 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 15,303,094.

HBAN’s 1-month performance is 6.97% or $0.69 on its low of $13.75 reached on 01/20/23. The company’s shares have touched a 52-week low of $11.67 and high of $16.51, with the stock’s rally to the 52-week high happening on 01/23/23. YTD, HBAN has achieved 4.54% or $0.64 and has reached a new high 6 times. However, the current price is down -10.72% from the 52-week high price.

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Insider Transactions

HBAN stock investors last saw insider trading activity on Nov 29.Jones Michael Scott (Senior Exec. V.P.) most recently sold 50,000 shares at $15.25 per share on Nov 29. This transaction cost the insider $762,480. Executive V.P., Dennis Donald Lee, sold 2,100 shares at a price of $15.14 on Nov 15. Then, on Nov 15, Senior Exec. V. P. Houston Helga sold 47,000 shares at a price of $15.14 per share. This transaction amounted to $711,364.

Valuation Metrics

HBAN stock has a beta of 1.13. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.99 while the price-to-book (PB) in the most recent quarter is 1.42, with the price to cash flow ratio at 12.17.

As well, the company’s long term debt to equity for the quarter ending December 30 was 0.50, while the total debt to equity was 0.50. The firm’s gross profit as reported stood at $4.1 billion against revenue of $4.19 billion.

Earnings Surprise

For the quarterly period ending December 30 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected HBAN to announce $0.41 per share in earnings in its latest quarter, but it posted $0.42, representing a 2.40% surprise. Shareholders hold equity totaling $1.44 billion.

Let’s look briefly at Huntington Bancshares Incorporated (HBAN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 62.94% to suggest the stock is trending Neutral, with historical volatility in this time period at 28.71%.

The stock’s 5-day moving average is $14.29, reflecting a +1.10% or $0.16 change from its current price. HBAN is currently trading +5.29% above its 20-day SMA, +9.43% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -4.78% and SMA200 by+2.57%.

Stochastic %K and %D was 53.26% and 38.44% and the average true range (ATR) pointed at 0.38. The RSI (14) points at 58.36%, while the 14-day stochastic is at 98.51% with the period’s ATR at 0.35. The stock’s 9-day MACD Oscillator is pointing at -0.12 and -0.10 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Huntington Bancshares Incorporated (NASDAQ: HBAN), DA Davidson launched coverage with a Neutral rating. Analysts offering their rating for HBAN stock have a consensus rating for the stock as Hold. Currently, 4 brokerage advisors rate HBAN as a “sell,”, while 9 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 2 rates the stock as overweight while 6 have offered a “buy” rating.

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

Analysts have a consensus price target ranging from a low of $13.50 and a high of $18.00, with their median price target at $16.00. Looking at these predictions, the average price target given by analysts is for Huntington Bancshares Incorporated (HBAN) stock is $15.89.

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