Huntington Bancshares, Inc. (NASDAQ:HBAN) Stock Is up 48.96% From Its Low, This Stock Is Just Warming Up

The trading price of Huntington Bancshares, Inc. (NASDAQ:HBAN) closed lower on Tuesday, April 02, closing at $13.60, -0.95% lower than its previous close.

The company’s P/E ratio in the trailing 12-month period was 10.99, while its 5Y monthly beta was 1.12. In examining the 52-week price action we see that the stock hit a 52-week high of $13.97 and a 52-week low of $9.13. Over the past month, the stock has gained 5.02% in value.

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Huntington Bancshares, Inc., whose market valuation is $19.80 billion at the time of this writing, is expected to release its quarterly earnings report Apr 18, 2024 – Apr 22, 2024. The dividend yield on the company stock is 4.56%, while its Forward Dividend ratio is 0.62. Investors’ optimism about the company’s current quarter earnings report is understandable.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Huntington Bancshares, Inc. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest HBAN has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.

A quick review shows that HBAN’s price is currently 1.31% off the SMA20 and 4.40% off the SMA50. The RSI metric on the 14-day chart is currently showing 56.71, and weekly volatility stands at 1.80%. When measured over the past 30 days, the indicator reaches 2.14%. Huntington Bancshares, Inc. (NASDAQ:HBAN)’s beta value is currently sitting at 1.12, while the Average True Range indicator is currently displaying 0.28.

To see how Huntington Bancshares, Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: HBAN stock’s performance was -0.95% in the latest trading, and 22.08% in the past year. Huntington Bancshares, Inc. has a P/E ratio of 10.99.

An evaluation of the daily trading volume of Huntington Bancshares, Inc. (NASDAQ:HBAN) indicates that the 3-month average is 17.74 million. However, this figure has increased over the past 10 days to an average of 13.2 million.

Currently, records show that 1.45 billion of the company’s shares remain outstanding. The insiders hold 1.27% of outstanding shares, whereas institutions hold 81.66%. The stats also highlight that short interest as of Mar 15, 2024, stood at 42.43 million shares, resulting in a short ratio of 2.19 at that time. From this, we can conclude that short interest is 2.91% of the company’s total outstanding shares. It is noteworthy that short shares in March were up slightly from the previous month’s figure, which was 34.81 million. However, since the stock’s price has seen 6.92% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.