Breaking: Is Buying Huntington Bancshares Incorporated Here a Winning Strategy?

Breaking: Is Buying Huntington Bancshares Incorporated Here a Winning Strategy?

The stock of Huntington Bancshares Incorporated (NASDAQ:HBAN) hit a new 52-week high and has $13.61 target or 8.00% above today’s $12.60 share price. The 9 months bullish chart indicates low risk for the $13.76B company. The 1-year high was reported on Nov, 23 by If the $13.61 price target is reached, the company will be worth $1.10B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 5.74M shares traded hands. Huntington Bancshares Incorporated (NASDAQ:HBAN) has risen 22.50% since April 21, 2016 and is uptrending. It has outperformed by 17.18% the S&P500.

Analysts await Huntington Bancshares Incorporated (NASDAQ:HBAN) to report earnings on January, 19. They expect $0.22 earnings per share, 0.00% or $0.00 from last year’s $0.22 per share. HBAN’s profit will be $240.25 million for 14.32 P/E if the $0.22 EPS becomes a reality. After $0.22 actual earnings per share reported by Huntington Bancshares Incorporated for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

Huntington Bancshares Incorporated (NASDAQ:HBAN) Ratings Coverage

Out of 19 analysts covering Huntington Bancshares Incorporated (NASDAQ:HBAN), 7 rate it a “Buy”, 0 “Sell”, while 12 “Hold”. This means 37% are positive. Huntington Bancshares Incorporated has been the topic of 37 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The rating was upgraded by Guggenheim to “Buy” on Friday, August 28. The stock of Huntington Bancshares Incorporated (NASDAQ:HBAN) earned “Outperform” rating by Macquarie Research on Tuesday, November 22. FBR Capital maintained it with “Mkt Perform” rating and $10.50 target price in Friday, January 22 report. The stock of Huntington Bancshares Incorporated (NASDAQ:HBAN) earned “Mkt Perform” rating by FBR Capital on Tuesday, October 11. On Friday, October 7 the stock rating was initiated by Wedbush with “Outperform”. The firm earned “Hold” rating on Monday, September 7 by Zacks. The rating was downgraded by Evercore to “Hold” on Thursday, April 21. The firm earned “Neutral” rating on Wednesday, January 27 by Macquarie Research. The stock of Huntington Bancshares Incorporated (NASDAQ:HBAN) has “Outperform” rating given on Monday, July 11 by FBR Capital. The rating was maintained by Bernstein with “Market Perform” on Thursday, April 21.

According to Zacks Investment Research, “Huntington Bancshares is a multi-state bank holding company. Its subsidiaries conduct a full-service commercial and consumer banking business, engage in mortgage banking, lease financing, trust services, discount brokerage services, underwriting credit life and disability insurance, selling other insurance products, and issuing commercial paper guaranteed by Huntington, and providing other financial products and services.”

Insitutional Activity: The institutional sentiment increased to 2.19 in Q2 2016. Its up 0.94, from 1.25 in 2016Q1. The ratio increased, as 26 funds sold all Huntington Bancshares Incorporated shares owned while 148 reduced positions. 61 funds bought stakes while 157 increased positions. They now own 597.98 million shares or 0.59% less from 601.54 million shares in 2016Q1.
Standard Life Invs last reported 0.14% of its portfolio in the stock. Buckingham Capital Mngmt Inc last reported 10,042 shares in the company. Bridgewater Associate L P holds 0.02% or 221,600 shares in its portfolio. M&R Cap Mngmt Incorporated holds 0% or 1,348 shares in its portfolio. Basswood Cap Mgmt Lc accumulated 2.56M shares or 1.32% of the stock. Panagora Asset accumulated 53,067 shares or 0% of the stock. First Merchants Corporation last reported 88,798 shares in the company. Hancock Hldgs has invested 0.11% of its portfolio in Huntington Bancshares Incorporated (NASDAQ:HBAN). Conning has 24,476 shares for 0.01% of their US portfolio. Gerstein Fisher holds 0.02% or 19,835 shares in its portfolio. Cetera Advsrs Ltd Liability Com has invested 0.02% of its portfolio in Huntington Bancshares Incorporated (NASDAQ:HBAN). Liberty Mutual Group Asset Mngmt accumulated 49,572 shares or 0.02% of the stock. City holds 12,267 shares or 0.05% of its portfolio. Laurion Cap Mngmt L P accumulated 63,800 shares or 0.01% of the stock. Cullen Frost Bankers last reported 316,997 shares in the company.

Insider Transactions: Since May 24, 2016, the stock had 0 insider purchases, and 5 insider sales for $1.44 million net activity. Another trade for 25,000 shares valued at $288,557 was sold by STANUTZ NICHOLAS G. The insider Neumeyer Daniel J. sold $102,546. Shares for $259,000 were sold by Anderson David S.. Pierce Sandra E. also sold $615,895 worth of Huntington Bancshares Incorporated (NASDAQ:HBAN) on Friday, November 11.

Another recent and important Huntington Bancshares Incorporated (NASDAQ:HBAN) news was published by which published an article titled: “Huntington Bancshares: Are We Back?” on November 22, 2016.

HBAN Company Profile

Huntington Bancshares Incorporated, incorporated on April 14, 1966, is a diversified regional bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company is engaged in providing commercial, small business, consumer banking services, mortgage banking services, automobile financing, equipment leasing, investment management, trust services, brokerage services, customized insurance programs, and other financial services and products. It operates through five divisions: Retail and Business Banking, Commercial Banking, Automobile Finance and Commercial Real Estate, Regional Banking and The Huntington Private Client Group, and Home Lending. The Firm offers commercial and industrial loans, commercial real estate loans, automobile loans, home equity loans, residential mortgage loans and other consumer loans. The Firm offers demand deposits-noninterest-bearing, demand deposits-interest-bearing, money market deposits, savings and other domestic deposits, core certificates of deposit, other domestic time deposits of $250,000 or more, and brokered time deposits and negotiable certificate of deposits (CDs). The Company’s total loans and leases are approximately $50.3 billion and total deposits are approximately $55.2 billion.

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