Huntington Bancshares Incorporated (NASDAQ:HBAN) has been downgraded by Sandler O’Neill on November 29 which now rates the stock as Hold compared with Buy rating suggested in the past. Analysts at Nomura, shed their positive views on November 13 by lowering it fromBuy to Neutral. The stock lost favor of Wedbush analysts who expressed their lack of confidence in it using a downgrade from Outperform to Neutral on November 02.
Huntington Bancshares Incorporated (HBAN) hit an intraday high Friday at $12.73. The shares finished at $12.63, after trading as low as $12.42 earlier in the session. It rose 0.56% in recent trade and currently has a stock-market value of $13.33B. Trading activity significantly weakened as the volume at ready counter decreased to 8,150,165 shares versus 13,770,360 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 9,357,600 shares. The stock is now 13.58% above against its bear-market low of $11.12 on December 26, 2018. It has retreated -31.43% since it’s 52-week high of $16.6 reached in March. Now the market price is down -18.41% on the year and up 5.96% YTD.
HBAN’s 50 day simple moving average (SMA 50) price is $13.39 and its 200-day simple moving average (SMA 200) price is $14.76. The company’s stock currently has a total float of 1.05B shares. Its weekly volatility is hovering around 2.38% and felt 3.04% volatility in price over a month. On the upside, the share price will test short term resistance at around $12.77. On a downside, the stock is likely to find some support, which begins at $12.46. The failure to get near-term support could push it to $12.28.
Separately, it has been reported that multiple insider activity took place at Huntington Bancshares Incorporated (HBAN). Director Ransier Kathleen H sold 4,820 shares for $158,351 in transaction occurred on 2018/11/29. After making this transaction, the Director owns a direct stake of 70,035 shares, worth $1,999,973, as per the last closing price. On 2018/11/13 Houston Helga, Senior Exec. V. P. at HBAN, dumped 42,608 shares at an average price of $14.66 per share. The selling total is valued at $5,615,260.
Director, Neu Richard W had invested in 6,750 shares for $312,666 through a trade on 2018/10/30. Following this activity, the insider holds 93,690 shares worth $3,948,972 as of recent close. Wall Street’s most bullish Huntington Bancshares Incorporated (NASDAQ:HBAN) analysts are predicting the share price to blow past $18 per share during the next 12 months. The current median share price forecast by them is $15.5, suggesting that the stock could increase 22.72% in that time frame. The average price target of $15.19 calls for a nearly 20.27% increase in the stock price.
When looking at valuations, Huntington Bancshares Incorporated (HBAN) has a cheap P/E of 11.08x as compared to industry average of 19.01x. Moreover, it trades for 9.26 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 1.41x price/book and 3.52x price/sales. Compared to others, Huntington Bancshares Incorporated is in a different league with regards to profitability, having net margins of 37.5%. To put some perspective around this, the industry’s average net margin is 29.87%. HBAN’s ROE is 14.3%, which is also considerably worse than the industry’s ROE of 16.14%.
Shares of Huntington Bancshares Incorporated (HBAN) have dropped -7.5% since the company’s Mar-19 earnings report. Over the past 12 fiscal quarters, Huntington Bancshares Incorporated (NASDAQ:HBAN) has topped consensus earnings estimates in 6 quarters (50%), missed earnings in 1 quarters (8%), whereas at 5 occasion EPS met analyst expectations. HBAN last reported earnings on October 23, 2018 when it released Sep-18 results that exceeded expectations. The company raked in $0.33 per share, -92.01% change on the same period last year. That was better than consensus for $0.32. Revenue for the recent quarter stood at $1.14 billion, up 5% on last year and below the $1.16 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $1.14 billion to $1.18 billion, which should be compared with $1.15 billion generated last year. EPS is seen in a range of $0.31 to $0.35, against the $0.28 reported a year ago.