Price Don’t Lie: What’s Huntington Bancshares Incorporated Upside After Achieving 52-Week High?

Price Don't Lie: What's Huntington Bancshares Incorporated Upside After Achieving 52 Week High?

The stock of Huntington Bancshares Incorporated (NASDAQ:HBAN) hit a new 52-week high and has $14.19 target or 9.00% above today’s $13.02 share price. The 5 months bullish chart indicates low risk for the $14.33B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $14.19 price target is reached, the company will be worth $1.29 billion 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 16.97M shares traded hands or 8.09% up from the average. Huntington Bancshares Incorporated (NASDAQ:HBAN) has risen 23.12% since April 28, 2016 and is uptrending. It has outperformed by 17.20% the S&P500.

Analysts await Huntington Bancshares Incorporated (NASDAQ:HBAN) to report earnings on January, 19. They expect $0.22 EPS, 0.00% or $0.00 from last year’s $0.22 per share. HBAN’s profit will be $242.15 million for 14.78 P/E if the $0.22 EPS becomes a reality. After $0.22 actual EPS 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 20 analysts covering Huntington Bancshares Incorporated (NASDAQ:HBAN), 7 rate it a “Buy”, 0 “Sell”, while 13 “Hold”. This means 35% are positive. Huntington Bancshares Incorporated has been the topic of 39 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The company was upgraded on Wednesday, April 6 by Sterne Agee CRT. The firm earned “Market Perform” rating on Wednesday, September 9 by BMO Capital Markets. The company was initiated on Thursday, August 20 by Sterne Agee CRT. The rating was downgraded by Morgan Stanley to “Equal-Weight” on Thursday, December 10. The stock of Huntington Bancshares Incorporated (NASDAQ:HBAN) has “Neutral” rating given on Thursday, May 26 by Robert W. Baird. As per Wednesday, September 28, the company rating was upgraded by Deutsche Bank. The company was downgraded on Monday, September 7 by Zacks. The firm has “Outperform” rating given on Friday, October 7 by Wedbush. Evercore downgraded the stock to “Hold” rating in Thursday, April 21 report. The rating was downgraded by Jefferies on Monday, November 28 to “Hold”.

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 2016 Q2. Its up 0.94, from 1.25 in 2016Q1. The ratio improved, 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.
Princeton Alpha Mgmt L P has 50,520 shares for 0.08% of their US portfolio. Stephens Ar holds 0.08% of its portfolio in Huntington Bancshares Incorporated (NASDAQ:HBAN) for 197,396 shares. Endurance Wealth Management last reported 829,790 shares in the company. Lynch Associates In last reported 0.19% of its portfolio in the stock. Goldman Sachs Group holds 0.08% of its portfolio in Huntington Bancshares Incorporated (NASDAQ:HBAN) for 26.66 million shares. Pinebridge L P accumulated 1.07M shares or 0.49% of the stock. Veritable Limited Partnership accumulated 29,407 shares or 0.01% of the stock. Bankshares Of New York Mellon Corporation holds 7.78M shares or 0.02% of its portfolio. The North Carolina-based Natl Bank Of America Corp De has invested 0.03% in Huntington Bancshares Incorporated (NASDAQ:HBAN). Blackrock Fund Advisors accumulated 0.03% or 13.04 million shares. Moreover, Canada Pension Plan Board has 0.01% invested in Huntington Bancshares Incorporated (NASDAQ:HBAN) for 379,434 shares. Wedge Cap L Lp Nc has 0.01% invested in the company for 100,822 shares. Lpl Fincl Ltd Llc has 95,433 shares for 0.01% of their US portfolio. Mitsubishi Ufj Hldg Ltd owns 1,430 shares or 0.02% of their US portfolio. Ycg Ltd Llc reported 547 shares or 0% of all its holdings.

Insider Transactions: Since August 22, 2016, the stock had 0 buys, and 6 sales for $1.54 million net activity. 52,994 shares were sold by Pierce Sandra E., worth $615,895. STANUTZ NICHOLAS G had sold 35,350 shares worth $340,819 on Monday, August 22. 10,011 shares were sold by Anderson David S., worth $106,161. $103,324 worth of Huntington Bancshares Incorporated (NASDAQ:HBAN) shares were sold by Houston Helga.

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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