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Huntington Bancshares (HBAN) Gains As Market Dips: What You Should Know
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Huntington Bancshares (HBAN - Free Report) closed at $10.92 in the latest trading session, marking a +0.28% move from the prior day. This change outpaced the S&P 500's 0.37% loss on the day. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 1.18%.
Coming into today, shares of the regional bank holding company had gained 6.45% in the past month. In that same time, the Finance sector gained 6.02%, while the S&P 500 gained 7.18%.
Huntington Bancshares will be looking to display strength as it nears its next earnings release. In that report, analysts expect Huntington Bancshares to post earnings of $0.35 per share. This would mark a year-over-year decline of 2.78%. Meanwhile, our latest consensus estimate is calling for revenue of $1.86 billion, up 6.43% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.44 per share and revenue of $7.51 billion, which would represent changes of -4% and +3.18%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Huntington Bancshares. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.55% lower. Huntington Bancshares is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Huntington Bancshares is currently trading at a Forward P/E ratio of 7.58. For comparison, its industry has an average Forward P/E of 7.7, which means Huntington Bancshares is trading at a discount to the group.
We can also see that HBAN currently has a PEG ratio of 5.79. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Banks - Midwest was holding an average PEG ratio of 0.9 at yesterday's closing price.
The Banks - Midwest industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 233, which puts it in the bottom 8% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Huntington Bancshares (HBAN) Gains As Market Dips: What You Should Know
Huntington Bancshares (HBAN - Free Report) closed at $10.92 in the latest trading session, marking a +0.28% move from the prior day. This change outpaced the S&P 500's 0.37% loss on the day. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 1.18%.
Coming into today, shares of the regional bank holding company had gained 6.45% in the past month. In that same time, the Finance sector gained 6.02%, while the S&P 500 gained 7.18%.
Huntington Bancshares will be looking to display strength as it nears its next earnings release. In that report, analysts expect Huntington Bancshares to post earnings of $0.35 per share. This would mark a year-over-year decline of 2.78%. Meanwhile, our latest consensus estimate is calling for revenue of $1.86 billion, up 6.43% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.44 per share and revenue of $7.51 billion, which would represent changes of -4% and +3.18%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Huntington Bancshares. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.55% lower. Huntington Bancshares is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Huntington Bancshares is currently trading at a Forward P/E ratio of 7.58. For comparison, its industry has an average Forward P/E of 7.7, which means Huntington Bancshares is trading at a discount to the group.
We can also see that HBAN currently has a PEG ratio of 5.79. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Banks - Midwest was holding an average PEG ratio of 0.9 at yesterday's closing price.
The Banks - Midwest industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 233, which puts it in the bottom 8% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.