Boston Partners Global Investors,.. recently announced the acquisition of new stake in Huntington Bancshares Incorporated (NASDAQ:HBAN). The institutional investor has increased its shareholding in the Financial company by 28.68% to 54.48 million shares with purchase of 12.14 million shares. This fresh investment now brings its stake to 5.38% valued currently at $505.05 million. In addition, SSgA Funds Management, Inc. raised its holdings by 0.21 million to 51.73 million shares. And Fidelity Management & Research Co.. has lifted its position by 14.01% or 5.6 million shares – to 45.53 million shares.
With over 10.21 million Huntington Bancshares Incorporated (HBAN) shares trading Friday and a closing price of $9.57 on the day, the dollar volume was approximately $97.68 million. The shares have shown a positive weekly performance of 5.05% and its price on 08/28/20 lost nearly -0.73%. Currently, there are 1.02B common shares owned by the public and among those 1.01B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 21 analysts who have offered their price forecasts for HBAN have a consensus price objective of $10.59. The analysts have set the share’s price value over the next 12 months at a high of $12.00 and a low of $9.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Huntington Bancshares Incorporated stock is 2.50 for the next 12 months. The average price target is 9.63% above its last price level and an upside to the estimated low will see the stock lose -6.33% over that period. But an upside of 20.25% will see the stock hit the forecast high price target while mean target price for the stock is $10.50.
Insiders at the company have transacted a total of 162 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 70 of these insider trades were purchases, accounting for 2,472,738 shares. Insider sales of the common stock occurred on 92 occasions, with total insider shares sold totaling 1,306,864 shares.
The top 3 mutual fund holders in Huntington Bancshares Incorporated are Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 28.89 million shares of the company’s stock, all valued at over $267.85 million. The company sold 16102.0 shares recently to bring their total holdings to about 2.85% of the shares outstanding. Vanguard Mid Cap Index Fund sold -0.19 million shares to see its total holdings shrink to 24.88 million shares valued at over $230.6 million and representing 2.46% of the shares outstanding. Vanguard 500 Index Fund sold -0.12 million shares to bring its total holdings to over 20.92 million shares at a value of $193.96 million. Vanguard 500 Index Fund now owns shares totaling to 2.07% of the shares outstanding.
Shares of Huntington Bancshares Incorporated (NASDAQ: HBAN) opened at $9.71, up $0.07 from a prior closing price of $9.64. However, the script later closed the day at $9.57, down -0.73%. The company’s stock has a 5-day price change of 5.05% and 5.16% over the past three months. HBAN shares are trading -36.54% year to date (YTD), with the 12-month market performance down to -27.61% lower. It has a 12-month low price of $6.82 and touched a high of $15.63 over the same period. Currently, 10.21 million shares have been traded, compared to an average intraday trading volume of 10.63 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.22%, 2.83%, and -13.36% respectively.
Institutional ownership of Huntington Bancshares Incorporated (NASDAQ: HBAN) shares accounts for 75.60% of the company’s 1.02B shares outstanding. Mutual fund holders own 28.39%, while other institutional holders and individual stakeholders account for 47.10% and 2.28% respectively.
It has a market capitalization of $9.81B and a beta (3y monthly) value of 1.52. The stock’s trailing 12-month PE ratio is 12.30, while the earnings-per-share (ttm) stands at $0.78. The company has a debt-to-equity ratio at 0.92. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.11% over the week and 3.06% over the month.
Analysts forecast that Huntington Bancshares Incorporated (HBAN) will achieve an EPS of $0.21 for the current quarter, $0.23 for the next quarter and $0.96 for 2021. The lowest estimate earnings-per-share for the quarter is $0.15 while analysts give the company a high EPS estimate of $0.28. Comparatively, EPS for the current quarter was $0.34 a year ago. Earnings per share for the fiscal year are expected to increase by 6.10%, and 60.64% over the next financial year. EPS should shrink at an annualized rate of -0.93% over the next five years, compared to 11.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 21 brokerage firm advisors rate Huntington Bancshares Incorporated (HBAN) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 14 of the 21 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the HBAN, a number of firms have released research notes about the stock. Wolfe Research stated their Outperform rating for the stock in a research note on July 31, 2020, with the firm’s price target at. Stephens coverage for the Huntington Bancshares Incorporated (HBAN) stock in a research note released on June 03, 2020 offered a Overweight rating with a price target of $10.50. Robert W. Baird was of a view on March 09, 2020 that the stock is Outperform, while BofA/Merrill gave the stock Buy rating on February 26, 2020, issuing a price target of $15- $16. BMO Capital Markets on their part issued Market Perform rating on January 31, 2020.