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Headquartered in Columbus, Ohio, Huntington Bancshares Incorporated (HBAN) is a regional bank holding company known for its comprehensive financial services, including consumer banking, commercial banking, and wealth management. With a market cap of $19.25 billion, Huntington Bancshares serves as a reliable economic partner to individuals, businesses, and communities throughout the Midwest and beyond, focusing on delivering exceptional customer service and innovative banking solutions.
Shares of HBAN have significantly underperformed the broader market over the past year. The stock has gained 9.9% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 16.1%. In 2024, the stock has gained 5.4%, compared to SPX's 9% gains on a YTD basis.
Zooming in further, HBAN’s underperformance looks less pronounced when measured against the iShares U.S. Regional Banks ETF (IAT). The exchange-traded fund has gained 13.4% over this period. However, the stock's YTD gains are slightly ahead of the exchange-traded fund's 4.9% returns over the same time frame.
On Jul. 19, Huntington Bancshares reported its Q2 earnings, beating Wall Street estimates for both EPS and revenue. The stock rose 3.9% on the day of the earnings release.
For the current fiscal year, ending in December, analysts expect HBAN to decline 12.5% year over year to $1.19 on a diluted basis. The company's earnings surprise history is impressive. It beat the consensus estimate in each of the last four quarters.
Among the 20 analysts covering HBAN stock, the consensus rating is a “Moderate Buy.” That’s based on 10 “Strong Buy” ratings, two “Moderate Buys,” seven “Holds,” and one “Strong Sell.”
This configuration is slightly more bullish than three months ago, with nine suggesting a “Strong Buy.”
On Jul. 31, Barclays analyst Jason Goldberg gave Huntington Bancshares a “Hold” rating with a price target of $15, implying a potential upside of 11.5% from current levels.
The mean price target of $16.17 represents a 20.2% premium to HBAN’s current price levels. The Street-high price target of $18.50 suggests an upside potential of 37.5%.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
