Short Interest in Huntington Bancshares Drops By 22.8% (HBAN)
Huntington Bancshares (NASDAQ:HBAN) saw a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 10,331,941 shares, a drop of 22.8% from the July 15th total of 13,383,063 shares, StockRatingsNetwork reports. Currently, 1.3% of the company’s shares are sold short. Based on an average daily volume of 9,692,150 shares, the days-to-cover ratio is currently 1.1 days.
A number of research firms have recently commented on HBAN. Analysts at Zacks reiterated a “neutral” rating on shares of Huntington Bancshares in a research note on Thursday, August 7th. They now have a $10.00 price target on the stock. Separately, analysts at RBC Capital upgraded shares of Huntington Bancshares from a “sector perform” rating to an “outperform” rating in a research note on Thursday, July 31st. They now have a $12.00 price target on the stock, up previously from $11.00. Finally, analysts at Keefe, Bruyette & Woods upgraded shares of Huntington Bancshares from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 22nd. They now have a $11.50 price target on the stock, up previously from $10.00. Sixteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $10.36.
Shares of Huntington Bancshares (NASDAQ:HBAN) opened at 9.47 on Tuesday. Huntington Bancshares has a 1-year low of $8.04 and a 1-year high of $10.29. The stock’s 50-day moving average is $9.66 and its 200-day moving average is $9.47. The company has a market cap of $7.737 billion and a P/E ratio of 12.85.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, July 18th. The company reported $0.19 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.18 by $0.01. The company had revenue of $716.80 million for the quarter, compared to the consensus estimate of $693.00 million. During the same quarter last year, the company posted $0.17 earnings per share. Huntington Bancshares’s revenue was up 4.9% compared to the same quarter last year. Analysts expect that Huntington Bancshares will post $0.74 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Shareholders of record on Wednesday, September 17th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Monday, September 15th.
Huntington Bancshares Incorporated (NASDAQ:HBAN) is a multi-state diversified regional bank holding company.
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