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”.
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.
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.