Huntington Bancshares, Inc. (NASDAQ: HBAN)’s stock price has decreased by -1.53 compared to its previous closing price of 13.04. However, the company has seen a 0.47% increase in its stock price over the last five trading sessions. prnewswire.com reported 2024-07-03 that COLUMBUS, Ohio, July 3, 2024 /PRNewswire/ — Huntington Bancshares Incorporated (Nasdaq: HBAN) will release second quarter 2024 financial results prior to the market opening on Friday, July 19, 2024. A news release and supporting financial data will be available at that time on the Investor Relations section of the company’s website (www.huntington-ir.com).
Is It Worth Investing in Huntington Bancshares, Inc. (NASDAQ: HBAN) Right Now?
Huntington Bancshares, Inc. (NASDAQ: HBAN) has a higher price-to-earnings ratio of 11.59x compared to its average ratio. HBAN has 36-month beta value of 1.08. Analysts have mixed views on the stock, with 8 analysts rating it as a “buy,” 7 as “overweight,” 11 as “hold,” and 0 as “sell.”
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The public float for HBAN is 1.43B, and currently, short sellers hold a 1.80% ratio of that float. The average trading volume of HBAN on July 08, 2024 was 16.32M shares.
HBAN’s Market Performance
HBAN’s stock has seen a 0.47% increase for the week, with a -4.75% drop in the past month and a -5.03% fall in the past quarter. The volatility ratio for the week is 2.04%, and the volatility levels for the past 30 days are at 2.20% for Huntington Bancshares, Inc. The simple moving average for the past 20 days is 0.27% for HBAN’s stock, with a 4.01% simple moving average for the past 200 days.
Analysts’ Opinion of HBAN
Many brokerage firms have already submitted their reports for HBAN stocks, with Piper Sandler repeating the rating for HBAN by listing it as a “Underweight.” The predicted price for HBAN in the upcoming period, according to Piper Sandler is $11.50 based on the research report published on June 14, 2024 of the current year 2024.
JP Morgan, on the other hand, stated in their research note that they expect to see HBAN reach a price target of $18, previously predicting the price at $16. The rating they have provided for HBAN stocks is “Overweight” according to the report published on May 28th, 2024.
Jefferies gave a rating of “Buy” to HBAN, setting the target price at $16 in the report published on April 08th of the current year.
HBAN Trading at -4.27% 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 -10.18% of loss for the given period.
Volatility was left at 2.20%, however, over the last 30 days, the volatility rate increased by 2.04%, as shares sank -4.39% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -5.80% lower at present.
During the last 5 trading sessions, HBAN rose by +0.47%, which changed the moving average for the period of 200-days by +21.25% in comparison to the 20-day moving average, which settled at $12.78. In addition, Huntington Bancshares, Inc. saw 0.94% 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 Houston Helga, who sale 7,278 shares at the price of $13.64 back on May 30 ’24. After this action, Houston Helga now owns 648,904 shares of Huntington Bancshares, Inc., valued at $99,238 using the latest closing price.
Kowalski Kendall A, the Chief Information Officer of Huntington Bancshares, Inc., sale 15,711 shares at $13.84 during a trade that took place back on May 03 ’24, which means that Kowalski Kendall A is holding 65,195 shares at $217,454 based on the most recent closing price.
Stock Fundamentals for HBAN
Current profitability levels for the company are sitting at:
- 0.26 for the present operating margin
- 1.0 for the gross margin
The net margin for Huntington Bancshares, Inc. stands at 0.21. The total capital return value is set at 0.03. Equity return is now at value 9.29, with 0.92 for asset returns.
Based on Huntington Bancshares, Inc. (HBAN), the company’s capital structure generated 0.44 points at debt to capital in total, while cash flow to debt ratio is standing at 0.2. The debt to equity ratio resting at 0.78. The interest coverage ratio of the stock is 0.55.
Currently, EBITDA for the company is 2.36 billion with net debt to EBITDA at 1.53. When we switch over and look at the enterprise to sales, we see a ratio of 2.55. The receivables turnover for the company is 1.15for trailing twelve months and the total asset turnover is 0.04. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.11.
Conclusion
To put it simply, Huntington Bancshares, Inc. (HBAN) has had a mixed performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
