Huntington Bancshares (NASDAQ:HBAN) Sets New 1-Year Low - What's Next?

Key Points

• Huntington Bancshares shares fell to a new 52-week low of $14.82, well below their 50-day and 200-day moving averages of $16.82 and $16.67, respectively.
• Despite the decline, analysts maintain a “Moderate Buy” consensus, with 13 Buy ratings and an average price target of $19.79; recent targets range from $18 to $22.
• The bank matched quarterly earnings estimates at $0.39 per share and slightly exceeded revenue expectations, while declaring a quarterly dividend of $0.155 per share, representing a 4.1% annualized yield.

Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $14.82 and last traded at $14.8850, with a volume of 3041322 shares. The stock had previously closed at $15.26.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Morgan Stanley reissued an "equal weight" rating and set a $19.00 price objective (down from $21.00) on shares of Huntington Bancshares in a report on Friday, July 24th. UBS Group boosted their price target on Huntington Bancshares from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. upped their price target on Huntington Bancshares from $18.50 to $19.50 and gave the stock an "overweight" rating in a report on Monday, July 6th. Weiss Ratings raised Huntington Bancshares from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, July 6th. Finally, Stephens decreased their target price on Huntington Bancshares from $19.00 to $18.00 in a research report on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Huntington Bancshares presently has an average rating of "Moderate Buy" and a consensus target price of $19.79.

Huntington Bancshares Stock Performance

The stock has a market cap of $30.50 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 0.93 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.92 and a quick ratio of 0.91. The stock's 50-day moving average is $16.82 and its 200-day moving average is $16.67.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $0.39 earnings per share for the quarter, hitting analysts' consensus estimates of $0.39. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.84 billion. Huntington Bancshares had a return on equity of 11.19% and a net margin of 16.64%.During the same quarter in the prior year, the company posted $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Analysts anticipate that Huntington Bancshares Incorporated will post 1.54 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 17th will be given a dividend of $0.1550 per share. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $0.62 annualized dividend and a yield of 4.1%. Huntington Bancshares's dividend payout ratio is 48.06%.

Insider Buying and Selling at Huntington Bancshares

In other news, insider Kendall Kowalski sold 27,971 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $17.20, for a total transaction of $481,101.20. Following the completion of the sale, the insider directly owned 70,025 shares of the company's stock, valued at $1,204,430. The trade was a 28.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.67% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Huntington Bancshares

Large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Huntington Bancshares during the 2nd quarter worth approximately $3,134,426,000. Victory Capital Management Inc. lifted its position in Huntington Bancshares by 9.3% during the fourth quarter. Victory Capital Management Inc. now owns 37,412,989 shares of the bank's stock valued at $649,115,000 after buying an additional 3,182,001 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Huntington Bancshares by 27.2% in the first quarter. Dimensional Fund Advisors LP now owns 23,480,601 shares of the bank's stock worth $367,388,000 after acquiring an additional 5,026,894 shares in the last quarter. Amundi raised its stake in shares of Huntington Bancshares by 30.7% in the 1st quarter. Amundi now owns 19,502,547 shares of the bank's stock valued at $305,215,000 after acquiring an additional 4,578,566 shares during the period. Finally, Bank of America Corp DE acquired a new position in shares of Huntington Bancshares during the 2nd quarter valued at $256,772,000. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides consumer, small-business and commercial banking services through branch offices, digital banking channels and automated teller machines.

The company offers deposit accounts, residential and commercial mortgages, home equity lending, auto loans, personal lending, credit cards and other consumer financial products. Its business banking operations provide lending, treasury management, payment processing and capital markets services, while its wealth management and insurance businesses serve individuals, families and institutions.

Founded in 1866, Huntington has developed a banking franchise across the Midwest, with a presence in states including Ohio, Michigan, Pennsylvania, Indiana, West Virginia, Kentucky, Illinois and Wisconsin.

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