In the latest trading session, Huntington Bancshares (HBAN) closed at $11.94, marking a +0.84% move from the previous day. This change outpaced the S&P 500's 0.22% gain on the day. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, added 0.22%.
Coming into today, shares of the regional bank holding company had lost 8.29% in the past month. In that same time, the Finance sector lost 9.02%, while the S&P 500 lost 10.02%.
Wall Street will be looking for positivity from Huntington Bancshares as it approaches its next earnings report date. In that report, analysts expect Huntington Bancshares to post earnings of $0.34 per share. This would mark a year-over-year decline of 2.86%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.7 billion, up 31.82% from the year-ago period.
HBAN's full-year Zacks Consensus Estimates are calling for earnings of $1.42 per share and revenue of $6.76 billion. These results would represent year-over-year changes of +31.48% and +12.33%, respectively.
Investors might also notice recent changes to analyst estimates for Huntington Bancshares. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. 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 8.43. For comparison, its industry has an average Forward P/E of 9.65, which means Huntington Bancshares is trading at a discount to the group.
The Banks - Midwest industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 69, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.