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 $2.11 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.
Currently, there are 1.45B common shares owned by the public and among those 1.43B shares have been available to trade.
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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 45.3 million shares of the company’s stock, all valued at over $576.25 million. The company bought an additional 33544.0 shares recently to bring their total holdings to about 3.13% of the shares outstanding. Vanguard 500 Index Fund bought 72912.0 shares to see its total holdings expand to 35.36 million shares valued at over $449.82 million and representing 2.44% of the shares outstanding. Vanguard Mid Cap Index Fund sold -0.47 million shares to bring its total holdings to over 32.45 million shares at a value of $412.73 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.24% of the shares outstanding.
The company’s stock has a 5-day price change of 0.00% and 25.82% over the past three months. HBAN shares are trading 0.00% year to date (YTD), with the 12-month market performance down to -9.59% 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 16.17 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 0.27%, 7.27%, and 15.09% respectively.
Institutional ownership of Huntington Bancshares, Inc. (NASDAQ: HBAN) shares accounts for 80.78% of the company’s 1.45B shares outstanding. Mutual fund holders own 31.87%, while other institutional holders and individual stakeholders account for 49.16% and 2.12% respectively.
It has a market capitalization of $18.42B and a beta (3y monthly) value of 1.13. The stock’s trailing 12-month PE ratio is 10.28, while the earnings-per-share (ttm) stands at $1.24. The company has a debt-to-equity ratio at 0.67. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.86% over the week and 2.23% over the month.
Analysts forecast that Huntington Bancshares, Inc. (HBAN) will achieve an EPS of $0.27 for the current quarter, $0.28 for the next quarter and $1.22 for 2024. The lowest estimate earnings-per-share for the quarter is $0.23 while analysts give the company a high EPS estimate of $0.29. Comparatively, EPS for the current quarter was $0.42 a year ago. Earnings per share for the fiscal year are expected to decrease by -1.84%, and 12.38% over the next financial year. EPS should shrink at an annualized rate of -2.15% over the next five years, compared to 0.72% over the past 5-year period.
Looking at the support for the HBAN, a number of firms have released research notes about the stock. Evercore ISI stated their Outperform rating for the stock in a research note on January 03, 2024, with the firm’s price target at $10.50-$15.
