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

Huntington Bancshares (HBAN) closed the most recent trading day at $11.42, moving +1.33% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.38%. Elsewhere, the Dow gained 0.27%, while the tech-heavy Nasdaq lost 4.19%.

Heading into today, shares of the regional bank holding company had gained 15% over the past month, outpacing the Finance sector's gain of 2.65% and the S&P 500's gain of 3.78% in that time.

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%. Our most recent consensus estimate is calling for quarterly revenue of $1.87 billion, up 6.55% from the year-ago period.

HBAN's full-year Zacks Consensus Estimates are calling for earnings of $1.44 per share and revenue of $7.53 billion. These results would represent year-over-year changes of -4% and +3.44%, respectively.

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Any recent changes to analyst estimates for Huntington Bancshares should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Huntington Bancshares currently has a Zacks Rank of #3 (Hold).

In terms of valuation, Huntington Bancshares is currently trading at a Forward P/E ratio of 7.8. For comparison, its industry has an average Forward P/E of 7.51, which means Huntington Bancshares is trading at a premium to the group.

Investors should also note that HBAN has a PEG ratio of 5.96 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. HBAN's industry had an average PEG ratio of 0.86 as of yesterday's close.

The Banks - Midwest industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 232, 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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Huntington Bancshares Incorporated (HBAN) : Free Stock Analysis Report

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Zacks Investment Research