Home Analyst Ratings Huntington Bancshares gets an upgrade to an Overweight from Piper Sandler

Huntington Bancshares [HBAN] gets an upgrade to an Overweight from Piper Sandler

Piper Sandler took its Huntington Bancshares [HBAN] rating to the equivalent of Overweight from ‎Neutral, in a research note dated 2021-01-05. Other analysts also revised their coverage, with JP ‎Morgan’s analysts upgrading the shares from “a Neutral” rating to “an Overweight” rating in a research ‎note to investors issued in mid December. Meanwhile, Wedbush had raised its rating on HBAN to “an ‎Outperform” from the earlier “Neutral”, in a research note produced for clients October 26, 2020. In ‎addition, Wolfe Research launched coverage on July 31, 2020. The research firm rated HBAN “an ‎Outperform”.

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Is Huntington Bancshares ‎Incorporated [NASDAQ:HBAN] a Good Buy Right Now?

It should be noted that HBAN technical ‎indicators for short, intermediate as well as long term progress have placed an overall average of 88% ‎as Buy. The average signal changed from 88% Buy in the last week and compares with 100% Buy in the ‎past month. Data from Huntington Bancshares Incorporated’s Trend Spotter indicated that the signals ‎were Weakening. The stock current average is 13.41 million shares in the past 20 days and the short ‎term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 10.67 ‎million shares while the medium term average advocated for 100% Buy. The average long-term signal ‎stands at 100% Buy and the 100-day average volume stands at 9.39 million shares.


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HBAN Price ‎Performance

On Wall Street, Huntington Bancshares Incorporated [NASDAQ:HBAN] finished ‎Monday’s session down -0.55% at $12.56. The stock went up to $12.82 at the same session while its ‎lowest single day price was $12.415. In the last five days, it saw a rise of about 1.70%, Huntington ‎Bancshares Incorporated shares dropped by almost -0.55% since the beginning of the year. However, ‎the share price has dropped to as low as -17.15% below its one year high. On 01/04/21, the company ‎shares recorded $12.82, the highest single-day price it has got to in the last 52-weeks and a 52-week ‎low was seen on 01/04/21, the same year at $12.41. The company’s shares have declined by -15.19% in ‎the past year. The 50-day SMA achieved is $11.90 while the 200-day SMA is $9.78. Volume gained to ‎‎13.98 million from 8.68 million in the previous session.

Huntington Bancshares Incorporated ‎‎[HBAN] Valuation Measures

Notably, Huntington Bancshares Incorporated [HBAN] stock cannot ‎be classified as a good candidate in the listing of underestimated low-priced Banks – Regional ‎companies to purchase soonest possible with the prevailing 12-month PE ratio of 17.74. The measure ‎means the stock is exchanging at a premium as compared to the 11.41x trailing earnings of the ‎industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 3.38 ‎PS value ratio is reported for the last one year of reported earnings. That is higher than the industry ‎average of 2.36 which means HBAN serve an unattractive investment opportunity compared to its ‎competitors.

HBAN Stock Support And Resistance Levels

On the 24-hour scale, the ‎immediate backing is perceived around 12.38 level, and in case of violation of this particular level, it will ‎cause more drop to 12.19 level. On the upper level, 13.00 is still the key resistance. The stock may ‎increase to the subsequent resistance at 12.78. The Relative Strength Index (RSI) pinned on the 14-day ‎chart is 54.61, implying a neutral technical stance while the MACD stands at 0.15, meaning price will ‎decrease in the next trading period. Percent R indicator moved to 41.05%, implying low price ‎movement. Stochastic %K at 61.65% suggest selling the stock.

What is the short interest in ‎Huntington Bancshares Incorporated?

Short interest in the Huntington Bancshares Incorporated ‎stock has plunged, decreasing by 50000.0 shares to total 17.56 million shares on Dec 14, 2020. The ‎interest had seen shares on Nov 12, 2020 stand at 17.51 million, data from Yahoo Finance shows. The ‎increase of 0.28% suggests the stock saw some increased bearish sentiment. The stock’s days to cover ‎‎(short ratio) moved to while the shorted shares account for just 1.96% of the overall float for the ‎stock.

Huntington Bancshares Incorporated’s Biggest Shareholders: Who Owns Huntington ‎Bancshares Incorporated [HBAN]?

Filings by The Vanguard Group, Inc. showed that the firm now ‎holds a total of 110,439,455 shares or roughly 10.86% of the outstanding HBAN shares. This means their ‎shares have reduced by -3,139,605 from the 110,439,455 the investor reportedly held in its prior 13-F ‎filing. With the conclusion of the sale, BlackRock Fund Advisors updated stake is worth $783,577,680. ‎Details in the latest 13F filings reveal that Boston Partners Global Investors, acquired their 7.94% stake ‎valued at $710,402,126 while SSgA Funds Management, Inc. added theirs at $637,995,089. During the ‎last quarter, Boston Partners Global Investors, raised 4,326,166 of its shares in Huntington Bancshares ‎Incorporated while SSgA Funds Management, Inc. bought 1,088,533 shares. The Fidelity Management ‎& Research Co’s holdings currently number 44,352,226 shares at $557063958.56. According to the firm’s ‎last 13F report, JPMorgan Investment Management, I shares in the company at filing stood at ‎‎24,896,398 shares, roughly $300,748,488.

HBAN Earnings Forecast For The Current ‎Quarter

Huntington Bancshares Incorporated [HBAN] is expected to report strong earnings ‎results for the quarter ending on Dec 2020. Consensus estimates give the company expected ‎revenues of $1.25B and an earnings per share of $0.29 for Dec 2020. Looking further ahead, the ‎company is expected to report revenue of $1.23B at an EPS of $0.29 for Mar 2021. The estimates ‎represent upside of 4.60% and 55.02% in the company’s revenue and earnings per share, respectively, ‎on a year-on-year basis.

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HBAN Earnings Estimates For ‎The Current Year

For the financial year, Huntington Bancshares Incorporated [NASDAQ:HBAN] is ‎expected to bring in revenue of $4.83B. The returns are nearly $250.0 million higher than the ‎company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it ‎at 0.71, lower than that of FY19 by -$0.56. Estimates put this year’s earnings growth at -44.10%, 54.90% ‎for the next, and at an annual -2.25% over the next 5-year period. As for sales, forecasts are for an ‎increase of 5.50% in the current fiscal year and a further 4.60% over the following year.‎

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