Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Huntington Bancshares Incorporated shares valued at $166,846 were sold by Wasserman Zachary Jacob on Aug 16. At $14.36 per share, Wasserman Zachary Jacob sold 11,618 shares. The insider’s holdings dropped to 230,394 shares worth approximately $3.16 million following the completion of this transaction.
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Also, TORGOW GARY purchased 19,382 shares, netting a total of over 249,975 in proceeds. Following the buying of shares at $12.90 each, the insider now holds 893,301 shares.
Before that, Wasserman Zachary Jacob had sold 5,456 shares from its account. In a trade valued at $74,856, the CFO and Senior Exec. V.P. traded Huntington Bancshares Incorporated shares for $13.72 each. Upon closing the transaction, the insider’s holdings decreased to 5,456 shares, worth approximately $2.85 million.
As published in a research note from Argus on July 28, 2022, Huntington Bancshares Incorporated [HBAN] has been rated up from a Hold to a Buy and the price target has been revised to $15. This represents a 8.53% premium over Wednesday’s closing price. Analysts at Piper Sandler downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in early July. As of July 01, 2022, JP Morgan has decreased its “an Overweight” rating to a “Neutral” for HBAN. Earlier on June 30, 2022, Wedbush downgraded its rating. Their new recommendation was “a Neutral” for HBAN stock which previously was a “an Outperform”.
Analyzing HBAN’s Price Performance
On Wednesday, Huntington Bancshares Incorporated [NASDAQ: HBAN] plunged -1.29% to $13.72. The stock’s lowest price that day was $13.72, but it reached a high of $14.16 in the same session. During the last five days, there has been a drop of approximately -1.08%. Over the course of the year, Huntington Bancshares Incorporated shares have dropped approximately -11.02%. Shares of the company reached a 52-week high of $17.79 on 01/18/22 and a 52-week low of $11.67 on 07/01/22. A 50-day SMA is recorded $13.55, while a 200-day SMA reached $14.23. Nevertheless, trading volume fell to 18.82 million shares from 18.03 million shares the previous day.
Support And Resistance Levels for Huntington Bancshares Incorporated (HBAN)
According to the 24-hour chart, there is a support level at 13.57, which, if violated, would cause prices to drop to 13.43. In the upper region, resistance lies at 14.01. The next price resistance is at 14.31. RSI (Relative Strength Index) is 49.09 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.05, which suggests the price will decrease in the coming days. Percent R is at 53.09%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Huntington Bancshares Incorporated subject to short interest?
Stocks of Huntington Bancshares Incorporated saw a sharp steep in short interest on Aug 30, 2022 dropping by -6.78 million shares to 37.77 million. Data from Yahoo Finance shows that the short interest on Jul 28, 2022 was 44.55 million shares. A decline of -17.95% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.82 of the overall float, the days-to-cover ratio (short ratio) decline to 3.82.
Which companies own the most shares of Huntington Bancshares Incorporated (HBAN)?
According to The Vanguard Group, Inc. filings, the company currently owns 159,944,890 shares, which is about 11.09% of the total HBAN shares outstanding. The investor’s shares have appreciated by 2,952,121 from its previous 13-F filing of 156992769.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $1,277,540,148. SSgA Funds Management, Inc. reduced a -6.19% interest valued at $993.86 million while T. Rowe Price Associates, Inc. purchased a 5,592,181 stake. A total of -3,848,111 shares of Huntington Bancshares Incorporated were bought by Fidelity Management & Research Co during the quarter, and 1,726,816 were bought by Charles Schwab Investment Managem. In its current portfolio, Boston Partners Global Investors, holds 37,727,712 shares valued at $505.55 million.
In terms of Huntington Bancshares Incorporated share price expectations, FactSet research, analysts set an average price target of $14.91 in the next 12 months, up nearly 7.91% from the previous closing price of $13.90. Analysts anticipate Huntington Bancshares Incorporated stock to reach $17.00 by 2022, with the lowest price target being $11.00. In spite of this, 20 analysts ranked Huntington Bancshares Incorporated stock as a Hold at the end of 2022. On June 03, 2022, Keefe Bruyette assigned a price target of “an Underperform” to the stock and downgraded coverage with a $15.