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Is a Correction Looming Ahead for Huntington Bancshares Incorporated (HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) went up by 0.64% from its latest closing price compared to the recent 1-year high of $17.32. The company’s stock price has collected -3.69% of loss in the last five trading sessions. The Wall Street Journal reported on 01/21/22 that Bitcoin, Netflix, Peloton, Coinbase: What to Watch in the Stock Market Today

Is It Worth Investing in Huntington Bancshares Incorporated (NASDAQ :HBAN) Right Now?

Huntington Bancshares Incorporated (NASDAQ:HBAN) scored a price-to-earnings ratio above its average ratio, recording 10.97 x from its present earnings ratio. Plus, the 36-month beta value for HBAN is at 1.13. Opinions of the stock are interesting as 6 analysts out of 21 who provided ratings for Huntington Bancshares Incorporated declared the stock was a “buy,” while 2 rated the stock as “overweight,” 9 rated it as “hold,” and 4 as “sell.”

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The average price from analysts is $15.95, which is $1.83 above the current price. HBAN currently public float of 1.43B and currently shorts hold a 3.62% ratio of that float. Today, the average trading volume of HBAN was 15.87M shares.

HBAN’s Market Performance

HBAN stocks went down by -3.69% for the week, with a monthly jump of 3.07% and a quarterly performance of 3.60%, while its annual performance rate touched -17.53%. The volatility ratio for the week stands at 3.04% while the volatility levels for the past 30 days are set at 1.90% for Huntington Bancshares Incorporated. The simple moving average for the period of the last 20 days is -0.84% for HBAN stocks with a simple moving average of 2.69% for the last 200 days.

Analysts’ Opinion of HBAN

Many brokerage firms have already submitted their reports for HBAN stocks, with DA Davidson repeating the rating for HBAN by listing it as a “Neutral.” The predicted price for HBAN in the upcoming period, according to DA Davidson is $15 based on the research report published on December 21st of the previous year 2022.

JP Morgan, on the other hand, stated in their research note that they expect to see HBAN reach a price target of $14.50, previously predicting the price at $15.50. The rating they have provided for HBAN stocks is “Underweight” according to the report published on December 13th, 2022.

Morgan Stanley gave a rating of “Overweight” to HBAN, setting the target price at $19 in the report published on December 05th of the previous year.

HBAN Trading at -3.35% from the 50-Day Moving Average

After a stumble in the market that brought HBAN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -18.51% of loss for the given period.

Volatility was left at 1.90%, however, over the last 30 days, the volatility rate increased by 3.04%, as shares surge +2.39% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -8.97% lower at present.

During the last 5 trading sessions, HBAN fell by -3.69%, which changed the moving average for the period of 200-days by -2.29% in comparison to the 20-day moving average, which settled at $14.25. In addition, Huntington Bancshares Incorporated saw 0.07% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at HBAN starting from Jones Michael Scott, who sale 50,000 shares at the price of $15.25 back on Nov 29. After this action, Jones Michael Scott now owns 52,647 shares of Huntington Bancshares Incorporated, valued at $762,480 using the latest closing price.

Dennis Donald Lee, the Executive V.P. of Huntington Bancshares Incorporated, sale 2,100 shares at $15.14 during a trade that took place back on Nov 15, which means that Dennis Donald Lee is holding 26,760 shares at $31,786 based on the most recent closing price.

Stock Fundamentals for HBAN

Current profitability levels for the company are sitting at:

  • +34.75 for the present operating margin

The net margin for Huntington Bancshares Incorporated stands at +28.16. Equity return is now at value 10.30, with 0.90 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 0.06.