The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Huntington Bancshares, Inc. shares valued at $785,140 were sold by CRANE ANN B on Mar 08 ’24. At $13.54 per share, CRANE ANN B sold 58,000 shares. The insider’s holdings dropped to 192,247 shares worth approximately $2.59 million following the completion of this transaction.
Also, Tutkovics Julie C sold 15,541 shares, netting a total of over 197,060 in proceeds. Following the sale of shares at $12.68 each, the insider now holds 303,455 shares.
Before that, Houston Helga had sold 28,700 shares from its account. In a trade valued at $378,005, the Senior Exec. V. P. traded Huntington Bancshares, Inc. shares for $13.17 each. Upon closing the transaction, the insider’s holdings decreased to 28,700 shares, worth approximately $7.67 million.
As published in a research note from Jefferies on April 08, 2024, Huntington Bancshares, Inc. [HBAN] has been rated up from a Hold to a Buy and the price target has been revised to $16 from $14. Analysts at BofA Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early April. As of February 27, 2024, DA Davidson has increased its “Neutral” rating to a “Buy” for HBAN. Earlier on February 14, 2024, UBS upgraded its rating. Their new recommendation was “a Buy” for HBAN stock which previously was a “a Neutral”.
Analyzing HBAN Stock Performance
During the last five days, there has been a drop of approximately -0.22%. Over the course of the year, Huntington Bancshares, Inc. shares have jumped approximately 6.05%. Shares of the company reached a 52-week high of $14.07 on 04/09/24 and a 52-week low of $12.02 on 01/18/24. A 50-day SMA is recorded $13.14, while a 200-day SMA reached $11.76. Nevertheless, trading volume fell to 18.11 million shares from 25.12 million shares the previous day.
Support And Resistance Levels for Huntington Bancshares, Inc. (HBAN)
According to the 24-hour chart, there is a support level at 13.30, which, if violated, would cause prices to drop to 13.11. In the upper region, resistance lies at 13.63. The next price resistance is at 13.77. RSI (Relative Strength Index) is 50.45 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.06, which suggests the price will decrease in the coming days. Percent R is at 70.73%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Huntington Bancshares, Inc. subject to short interest?
Stocks of Huntington Bancshares, Inc. saw a sharp steep in short interest on Mar 28, 2024 dropping by -8.15 million shares to 26.95 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 35.1 million shares. A decline of -30.24% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.49 of the overall float, the days-to-cover ratio (short ratio) decline to 1.49.
