The stock price of Huntington Bancshares, Inc (NASDAQ: HBAN) has jumped by 0.91 compared to previous close of 17.53. Despite this, the company has seen a gain of 2.31% in its stock price over the last five trading days. prnewswire.com reported 2024-11-07 that COLUMBUS, Ohio, Nov. 7, 2024 /PRNewswire/ — Huntington Bancshares Incorporated (Nasdaq: HBAN) announced that its prime rate is decreasing from 8 percent to 7.75 percent, effective November 8, 2024. Huntington’s rate last changed on September 19, 2024, decreasing from 8.5 percent to 8 percent.
Is It Worth Investing in Huntington Bancshares, Inc (NASDAQ: HBAN) Right Now?
Huntington Bancshares, Inc (NASDAQ: HBAN) has a price-to-earnings ratio that is above its average at 17.18x. The stock has a 36-month beta value of 1.07. Opinions on the stock are mixed, 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 at present, short sellers hold a 2.07% of that float. On November 18, 2024, the average trading volume of HBAN was 13.32M shares.
HBAN’s Market Performance
HBAN stock saw an increase of 2.31% in the past week, with a monthly gain of 14.65% and a quarterly increase of 26.09%. The volatility ratio for the week is 2.04%, and the volatility levels for the last 30 days are 2.19% for Huntington Bancshares, Inc (HBAN). The simple moving average for the last 20 days is 8.27% for HBAN’s stock, with a simple moving average of 26.30% for the last 200 days.
Analysts’ Opinion of HBAN
Many brokerage firms have already submitted their reports for HBAN stocks, with Robert W. Baird repeating the rating for HBAN by listing it as a “Neutral.” The predicted price for HBAN in the upcoming period, according to Robert W. Baird is $15 based on the research report published on July 26, 2024 of the current year 2024.
Piper Sandler, on the other hand, stated in their research note that they expect to see HBAN reach a price target of $11.50, previously predicting the price at $13.50. The rating they have provided for HBAN stocks is “Underweight” according to the report published on June 14th, 2024.
JP Morgan gave a rating of “Overweight” to HBAN, setting the target price at $18 in the report published on May 28th of the current year.
HBAN Trading at 14.99% 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 -1.56% of loss for the given period.
Volatility was left at 2.19%, however, over the last 30 days, the volatility rate increased by 2.04%, as shares surge +15.17% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +23.62% upper at present.
During the last 5 trading sessions, HBAN rose by +2.31%, which changed the moving average for the period of 200-days by +41.97% in comparison to the 20-day moving average, which settled at $16.34. In addition, Huntington Bancshares, Inc saw 39.07% 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 Wasserman Zachary Jacob, who sale 8,644 shares at the price of $17.63 back on Nov 13 ’24. After this action, Wasserman Zachary Jacob now owns 259,943 shares of Huntington Bancshares, Inc, valued at $152,402 using the latest closing price.
Kleinman Scott D, the Senior Exec. V.P. of Huntington Bancshares, Inc, sale 28,600 shares at $17.67 during a trade that took place back on Nov 13 ’24, which means that Kleinman Scott D is holding 496,076 shares at $505,391 based on the most recent closing price.
Stock Fundamentals for HBAN
Current profitability levels for the company are sitting at:
- 0.22 for the present operating margin
- 1.13 for the gross margin
The net margin for Huntington Bancshares, Inc stands at 0.17. The total capital return value is set at 0.03. Equity return is now at value 8.46, with 0.85 for asset returns.
Based on Huntington Bancshares, Inc (HBAN), the company’s capital structure generated 0.45 points at debt to capital in total, while cash flow to debt ratio is standing at 0.1. The debt to equity ratio resting at 0.8. The interest coverage ratio of the stock is 0.46.
Currently, EBITDA for the company is 3.18 billion with net debt to EBITDA at 1.3. When we switch over and look at the enterprise to sales, we see a ratio of 3.09. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.11.
Conclusion
To sum up, Huntington Bancshares, Inc (HBAN) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
