Huntington Bancshares Incorporated (NASDAQ:HBAN) recently claimed $14.61B as the price has approached $13.62. There came a -2.44% decline with the closing bell on Friday. The stock remained range bound between $13.53 and $13.92. Trading activity significantly weakened as the volume at ready counter decreased to 10,695,637 shares versus 12,334,130 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 11,607,145 shares. The stock is now 22.48% above against its bear-market low of $11.12 on December 26, 2018. It has retreated -21.88% since it’s 52-week high of $16.6 reached in March. Now the market price is down -12.92% on the year and up 14.26% YTD.
HBAN’s 50 day simple moving average (SMA 50) price is $12.96 and its 200-day simple moving average (SMA 200) price is $14.63. The company’s stock currently has a total float of 1.04B shares. Its weekly volatility is hovering around 2.25% and felt 2.23% volatility in price over a month. On the upside, the share price will test short term resistance at around $13.85. On a downside, the stock is likely to find some support, which begins at $13.46. The failure to get near-term support could push it to $13.3.
Separately, it has been reported that multiple insider activity took place at Huntington Bancshares Incorporated (HBAN). Senior EVP of Principal Sub. Thompson Mark E sold 18,510 shares for $707,166 in transaction occurred on 2019/01/28. After making this transaction, the Senior EVP of Principal Sub. owns a direct stake of 249,700 shares, worth $9,631,601, as per the last closing price. On 2018/11/29 Ransier Kathleen H, Director at HBAN, dumped 4,820 shares at an average price of $14.53 per share. The selling total is valued at $2,156,741.
Senior Exec. V. P., Houston Helga had divested 42,608 shares for $444,597 through a trade on 2018/11/13. Following this activity, the insider holds 624,633 shares worth $6,055,411 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, suggesting that the stock could increase 10.13% in that time frame. The average price target of $15.18 calls for a nearly 11.45% increase in the stock price.
It had seen a negative analyst call from Jefferies, which downgraded the stock from Buy to Hold on January 28. Analysts at Sandler O’Neill, shed their positive views on November 29 by lowering it fromBuy to Hold. The stock lost favor of Nomura analysts who expressed their lack of confidence in it using a downgrade from Buy to Neutral on November 13.
When looking at valuations, Huntington Bancshares Incorporated (HBAN) has a cheap P/E of 11.39x as compared to industry average of 19.58x. Moreover, it trades for 9.47 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 1.52x price/book and 3.7x price/sales. Compared to others, Huntington Bancshares Incorporated is in a different league with regards to profitability, having net margins of 33.3%. To put some perspective around this, the industry’s average net margin is 32.84%. HBAN’s ROE is 13.2%, which is also considerably worse than the industry’s ROE of 16.76%.
HBAN last reported earnings on January 24, 2019 when it released Dec-18 results that receded expectations. The company raked in $0.29 per share, -97.34% change on the same period last year. That was worse than consensus for $0.33. Revenue for the recent quarter stood at $1.16 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 $1.13 billion to $1.18 billion, which should be compared with $1.16 billion generated last year. EPS is seen in a range of $0.29 to $0.34, against the $0.3 reported a year ago.