Huntington Bancshares Incorporated (HBAN) Short Interest Update
Huntington Bancshares Incorporated (NASDAQ:HBAN) was the recipient of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 26,890,045 shares, a growth of 41.1% from the January 12th total of 19,056,267 shares. Currently, 2.5% of the company’s stock are sold short. Based on an average daily volume of 11,214,474 shares, the short-interest ratio is presently 2.4 days.
Huntington Bancshares (NASDAQ:HBAN) opened at $15.52 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.87 and a current ratio of 0.88. Huntington Bancshares has a 52 week low of $12.14 and a 52 week high of $16.53. The stock has a market cap of $16,780.00, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 1.17 and a beta of 1.35.
Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.26 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.26. Huntington Bancshares had a net margin of 25.02% and a return on equity of 12.12%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the business posted $0.18 EPS. equities research analysts expect that Huntington Bancshares will post 1.2 earnings per share for the current fiscal year.
HBAN has been the subject of several research reports. Morgan Stanley upped their price target on shares of Huntington Bancshares from $14.50 to $16.50 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. BidaskClub raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Barclays upped their price target on shares of Huntington Bancshares from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Nomura upped their price target on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Finally, Vining Sparks reaffirmed a “buy” rating and issued a $19.00 price target on shares of Huntington Bancshares in a research report on Monday, January 8th. Ten research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $16.75.
A number of institutional investors have recently modified their holdings of HBAN. Capital International Investors increased its stake in Huntington Bancshares by 13.2% during the 3rd quarter. Capital International Investors now owns 49,719,215 shares of the bank’s stock valued at $694,080,000 after purchasing an additional 5,800,000 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in Huntington Bancshares during the 4th quarter valued at approximately $45,268,000. Renaissance Technologies LLC increased its stake in Huntington Bancshares by 487.2% during the 4th quarter. Renaissance Technologies LLC now owns 2,078,244 shares of the bank’s stock valued at $30,259,000 after purchasing an additional 1,724,300 shares in the last quarter. Beacon Investment Advisory Services Inc. acquired a new position in Huntington Bancshares during the 3rd quarter valued at approximately $23,872,000. Finally, Mackenzie Financial Corp acquired a new position in Huntington Bancshares during the 4th quarter valued at approximately $20,189,000. Institutional investors and hedge funds own 74.19% of the company’s stock.
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About Huntington Bancshares
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
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