The Vanguard Group, Inc. recently announced the acquisition of new stake in Huntington Bancshares, Inc. (NASDAQ:HBAN). The institutional investor has increased its shareholding in the Financial company by 0.71% to 165.84 million shares with purchase of 1.17 million shares. This fresh investment now brings its stake to 11.45% valued currently at $1.87 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 1.1 million to 74.34 million shares. And Charles Schwab Investment Managem has lifted its position by 0.54% or 0.25 million shares – to 45.74 million shares.
With over 14.82 million Huntington Bancshares, Inc. (HBAN) shares trading Friday and a closing price of $12.72 on the day, the dollar volume was approximately $188.45 million. The shares have shown a positive half year performance of 18.00% and its price on 12/29/23 lost nearly -0.70%. Currently, there are 1.44B common shares owned by the public and among those 1.43B shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 22 analysts who have offered their price forecasts for HBAN have a consensus price objective of $12.71. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $10.00. The average price target is -0.08% below its recent price level and a downside to the estimated low will see the stock lose -27.2% over that period. But an upside of 15.2% will see the stock hit the forecast high price target while median target price for the stock is $13.00.
Insiders at the company have transacted a total of 117 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 66 of these insider trades were purchases, accounting for 3,159,525 shares. Insider sales of the common stock occurred on 51 occasions, with total insider shares sold totaling 1,147,465 shares.
The top 3 mutual fund holders in Huntington Bancshares, Inc. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund. Vanguard Total Stock Market ETF owns 45.27 million shares of the company’s stock, all valued at over $509.73 million. The company bought an additional 48837.0 shares recently to bring their total holdings to about 3.13% of the shares outstanding. Vanguard 500 Index Fund bought 0.24 million shares to see its total holdings expand to 35.02 million shares valued at over $394.3 million and representing 2.42% of the shares outstanding. Vanguard Mid Cap Index Fund bought 56215.0 shares to bring its total holdings to over 32.85 million shares at a value of $369.93 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.27% of the shares outstanding.
Shares of Huntington Bancshares, Inc. (NASDAQ: HBAN) opened at $12.77, down -$0.04 from a prior closing price of $12.81. However, the script later moved the day high at 12.81, down -0.70%. The company’s stock has a 5-day price change of 0.63% and 22.31% over the past three months. HBAN shares are trading -9.79% year to date (YTD), with the 12-month market performance down to -9.01% lower. It has a 12-month low price of $9.13 and touched a high of $15.62 over the same period. HBAN has an average intraday trading volume of 15.71 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 3.49%, 14.50%, and 16.27% respectively.
Institutional ownership of Huntington Bancshares, Inc. (NASDAQ: HBAN) shares accounts for 80.69% of the company’s 1.44B shares outstanding. Mutual fund holders own 32.45%, while other institutional holders and individual stakeholders account for 48.47% and 2.12% respectively.
It has a market capitalization of $18.42B and a beta (3y monthly) value of 1.14. The stock’s trailing 12-month PE ratio is 8.41, while the earnings-per-share (ttm) stands at $1.51. The company has a debt-to-equity ratio at 0.73. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.44% over the week and 2.32% over the month.
Analysts forecast that Huntington Bancshares, Inc. (HBAN) will achieve an EPS of $0.26 for the current quarter, $0.29 for the next quarter and $1.24 for 2024. The lowest estimate earnings-per-share for the quarter is $0.16 while analysts give the company a high EPS estimate of $0.3. Comparatively, EPS for the current quarter was $0.42 a year ago. Earnings per share for the fiscal year are expected to decrease by -8.73%, and -5.92% over the next financial year. EPS should shrink at an annualized rate of -2.15% over the next five years, compared to 7.63% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 22 brokerage firm advisors rate Huntington Bancshares, Inc. (HBAN) as a “Moderate Buy” at a consensus score of 2.59. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 13 of the 22 advise that investors “hold,” and 2 rated it as a “Sell.”
