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Huntington Bancshares (HBAN) Gains As Market Dips: What You Should Know

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Huntington Bancshares (HBAN) closed the most recent trading day at $12.29, moving +0.16% from the previous trading session. This change outpaced the S&P 500's 1.15% loss on the day. Meanwhile, the Dow lost 0.52%, and the Nasdaq, a tech-heavy index, lost 0.37%.

Heading into today, shares of the regional bank holding company had lost 1.45% over the past month, outpacing the Finance sector's loss of 7.08% and the S&P 500's loss of 5.08% in that time.

Wall Street will be looking for positivity from Huntington Bancshares as it approaches its next earnings report date. This is expected to be July 21, 2022. On that day, Huntington Bancshares is projected to report earnings of $0.34 per share, which would represent a year-over-year decline of 2.86%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.7 billion, up 32.07% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.41 per share and revenue of $6.95 billion. These totals would mark changes of +30.56% and +15.47%, respectively, from last year.

Any recent changes to analyst estimates for Huntington Bancshares should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.62% lower. Huntington Bancshares is holding a Zacks Rank of #3 (Hold) right now.

Digging into valuation, Huntington Bancshares currently has a Forward P/E ratio of 8.72. This represents a discount compared to its industry's average Forward P/E of 9.67.

The Banks - Midwest industry is part of the Finance sector. This group has a Zacks Industry Rank of 29, putting it in the top 12% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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