Huntington Bancshares Incorporated (NASDAQ:HBAN) saw a significant increase in short interest in May. As of May 15th, there was short interest totalling 32,380,000 shares, an increase of 8.7% from the April 30th total of 29,790,000 shares. Based on an average trading volume of 14,210,000 shares, the short-interest ratio is currently 2.3 days. Approximately 3.2% of the company’s shares are short sold.
Shares of HBAN stock traded down $0.07 during trading hours on Friday, reaching $8.10. 4,907,187 shares of the company’s stock were exchanged, compared to its average volume of 10,691,125. The stock’s 50 day moving average is $8.16 and its 200-day moving average is $12.15. The company has a market cap of $8.29 billion, a price-to-earnings ratio of 8.26, a P/E/G ratio of 3.61 and a beta of 1.55. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.93. Huntington Bancshares has a fifty-two week low of $6.82 and a fifty-two week high of $15.63.
Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.09). The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. Huntington Bancshares had a return on equity of 10.40% and a net margin of 19.65%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 earnings per share. Equities analysts anticipate that Huntington Bancshares will post 0.46 EPS for the current year.
Several research analysts have issued reports on HBAN shares. Morgan Stanley dropped their target price on Huntington Bancshares from $13.00 to $10.50 and set an “equal weight” rating for the company in a research report on Tuesday, April 7th. Barclays restated a “hold” rating and set a $12.00 target price on shares of Huntington Bancshares in a research report on Thursday, April 9th. Cfra dropped their target price on Huntington Bancshares from $15.00 to $9.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Royal Bank of Canada dropped their target price on Huntington Bancshares from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, April 24th. Finally, BMO Capital Markets upgraded Huntington Bancshares from an “underperform” rating to a “market perform” rating and set a $15.00 target price for the company in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $10.69.
In related news, EVP Mark E. Thompson sold 11,464 shares of Huntington Bancshares stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $8.68, for a total value of $99,507.52. Following the completion of the transaction, the executive vice president now owns 644,809 shares in the company, valued at $5,596,942.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CFM Wealth Partners LLC acquired a new position in shares of Huntington Bancshares in the 4th quarter valued at $25,000. Ballast Advisors LLC acquired a new position in shares of Huntington Bancshares in the 1st quarter valued at $25,000. Golden State Wealth Management LLC acquired a new position in shares of Huntington Bancshares in the 1st quarter valued at $25,000. Litman Gregory Asset Management LLC acquired a new position in shares of Huntington Bancshares in the 4th quarter valued at $26,000. Finally, TFG Advisers LLC acquired a new position in shares of Huntington Bancshares in the 4th quarter valued at $29,000. 75.32% of the stock is currently owned by hedge funds and other institutional investors.
About Huntington Bancshares
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).
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