Huntington Bancshares (NASDAQ:HBAN) Stock Price Breaks Above 50 Day Moving Average - Should You Sell?

Key Points

• Huntington Bancshares shares moved above their 50-day moving average, reaching $16.10 and last trading at $15.92; the 50-day average is $15.82.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $18.89, though recent views range from a strong sell to buy ratings.
• The bank matched quarterly EPS estimates at $0.38, while revenue came in below forecasts. It declared a quarterly dividend of $0.155 per share, equivalent to a 3.9% yield.

Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) shares crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $15.82 and traded as high as $16.10. Huntington Bancshares shares last traded at $15.92, with a volume of 17,345,365 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Truist Financial decreased their target price on Huntington Bancshares from $19.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, October 28th. Royal Bank Of Canada reissued an "outperform" rating and set a $21.00 price target on shares of Huntington Bancshares in a research report on Tuesday, August 18th. Zacks Research lowered Huntington Bancshares from a "hold" rating to a "strong sell" rating in a research note on Monday, October 5th. Weiss Ratings downgraded Huntington Bancshares from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, October 27th. Finally, DA Davidson decreased their price objective on Huntington Bancshares from $22.00 to $20.00 and set a "buy" rating for the company in a report on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Huntington Bancshares presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.89.

Huntington Bancshares Price Performance

The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59. The firm has a market cap of $32.17 billion, a P/E ratio of 13.16, a PEG ratio of 1.03 and a beta of 0.97. The firm has a 50-day simple moving average of $15.82 and a 200-day simple moving average of $16.64.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The bank reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. Huntington Bancshares had a net margin of 16.28% and a return on equity of 10.93%. During the same quarter in the previous year, the business posted $0.41 EPS. As a group, analysts forecast that Huntington Bancshares Incorporated will post 1.54 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, December 18th will be paid a dividend of $0.1550 per share. This represents a $0.62 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, December 18th. Huntington Bancshares's payout ratio is presently 51.24%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, SVP Donnell R. White sold 3,000 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $15.87, for a total transaction of $47,610.00. Following the completion of the sale, the senior vice president directly owned 23,697 shares in the company, valued at approximately $376,071.39. The trade was a 11.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James D. Rollins III acquired 14,000 shares of the company's stock in a transaction dated Monday, October 26th. The stock was acquired at an average cost of $18.12 per share, for a total transaction of $253,680.00. Following the completion of the acquisition, the director directly owned 15,500 shares in the company, valued at approximately $280,860. The trade was a 933.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HBAN. Intech Investment Management LLC lifted its position in Huntington Bancshares by 19.4% during the third quarter. Intech Investment Management LLC now owns 75,330 shares of the bank's stock valued at $1,150,000 after purchasing an additional 12,264 shares during the period. Silver Oak Securities Incorporated acquired a new stake in Huntington Bancshares during the 3rd quarter worth about $221,000. White Pine Capital LLC acquired a new stake in Huntington Bancshares during the 3rd quarter worth about $262,000. West Family Investments Inc. grew its position in Huntington Bancshares by 106.0% during the 3rd quarter. West Family Investments Inc. now owns 41,720 shares of the bank's stock worth $637,000 after purchasing an additional 21,472 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of Huntington Bancshares by 10.3% during the 3rd quarter. Bessemer Group Inc. now owns 53,126 shares of the bank's stock valued at $810,000 after buying an additional 4,963 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company's stock.

About Huntington Bancshares

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides consumer and commercial banking services to individuals, businesses, and institutions. The company traces its roots to 1866, when P.W. Huntington & Company opened in Columbus.

Huntington's offerings include checking and savings accounts, credit cards, mortgages, auto loans, business lending, treasury management, wealth management, and investment services.

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