Huntington Bancshares Incorporated (NASDAQ:HBAN) saw a downside of -2.20% to close Tuesday at $12.00 after subtracting -$0.27 on the day. The 5-day average trading volume is 11,037,761 shares of the company’s common stock. It has gained $12.35 in the past week and touched a new high 4 times within the past 5 days. An average of 13,452,300 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 13,558,628.
HBAN’s 1-month performance is 10.70% or $1.11 on its low of $10.79 reached on 07/10/23. The company’s shares have touched a 52-week low of $9.13 and high of $15.74, with the stock’s rally to the 52-week high happening on 02/07/23. YTD, HBAN has lost -14.89% or -$2.10 and has reached a new high 13 times. However, the current price is down -23.76% from the 52-week high price.
Insider Transactions
HBAN stock investors last saw insider trading activity on May 31.Heller Paul G (Sr. EVP & Chief Technology Off) most recently sold 160,000 shares at $9.19 per share on May 12. This transaction cost the insider $1,470,256. CFO and Senior Exec. V.P., Wasserman Zachary Jacob, sold 98,608 shares at a price of $10.25 on May 03. Then, on Jan 27, Director PORTEOUS DAVID L sold 80,000 shares at a price of $15.01 per share. This transaction amounted to $1,201,008.
Valuation Metrics
HBAN stock has a beta of 1.09. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.26 while the price-to-book (PB) in the most recent quarter is 1.06, with the price to cash flow ratio at 9.07.
As well, the company’s long term debt to equity for the quarter ending June 29 was 0.55, while the total debt to equity was 0.55. The firm’s gross profit as reported stood at $5.27 billion against revenue of $5.97 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected HBAN to announce $0.34 per share in earnings in its latest quarter, but it posted $0.35, representing a 2.90% surprise. Shareholders hold equity totaling $1.45 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 08 August was 52.98% to suggest the stock is trending Neutral, with historical volatility in this time period at 19.18%.
The stock’s 5-day moving average is $12.15, reflecting a -1.96% or -$0.24 change from its current price. HBAN is currently trading +8.79% above its 20-day SMA, +10.60% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +15.16% and SMA200 by-11.89%.
Stochastic %K and %D was 76.23% and 83.29% and the average true range (ATR) pointed at 0.32. The RSI (14) points at 57.41%, while the 14-day stochastic is at 52.98% with the period’s ATR at 0.32. The stock’s 9-day MACD Oscillator is pointing at 0.00 and 0.06 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Huntington Bancshares Incorporated (NASDAQ: HBAN), JP Morgan upgraded it to a Neutral rating. They previously had an Underweight rating on the stock. Analysts offering their rating for HBAN stock have a consensus rating for the stock as Hold. Currently, 2 brokerage advisors rate HBAN as a “sell,”, while 12 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 3 rates the stock as overweight while 4 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 $11.00 and a high of $15.00, with their median price target at $13.00. Looking at these predictions, the average price target given by analysts is for Huntington Bancshares Incorporated (HBAN) stock is $12.87.
