Recent insider trends for Huntington Bancshares Incorporated (NASDAQ:HBAN) have caught the attention of investors. Insider data is useful because it can reveal what a company’s executives and largest shareholders feel about a stock. In this case, the data has some interesting things to say about how HBAN might perform in the future.
Institutions own 76.10% of Huntington Bancshares Incorporated (HBAN)’s shares. The total value of these holdings, in millions, is $13,038. Among active positions in the latest quarter, 252 holders increased their positions by a total of 53.07 million shares, 248 holders decreased the positions by a total of 37.67 million shares, and 115 holders held their positions. This works out to a net increase in ownership of 15.4 million shares, and suggests that institutions are feeling bullish about the stock.
Among new and sold out positions, 47 holders initiated new positions by a total of 15.42 million shares and 48 holders exited their positions by a total of 6.16 million shares. This nets out to an increase of 9.26 million shares and is a bullish sign for HBAN.
In the last three months, insiders executed a total of 14 trades. 5 of these were buys and 9 were sells. Insider ownership decreased by a total of 379063 shares, which suggests that HBAN’s key executives are feeling less optimistic about the outlook for the stock. The data from the past twelve months tells a different story: insiders executed 79 buys and 66 sells, and ownership increased by a net of 904599 shares.
The analysis of insider buying and selling trends can be extended to the aggregate level. Short interest, which represents the number of a stock’s shares currently being shorted, captures what the market as a whole feels about a stock. Huntington Bancshares Incorporated (NASDAQ:HBAN)’s short interest is 17.27 million shares, or 1.61% of the float. This represents a decrease of -26% in the number of shares being shorted compared to the previous reading, and implies that investors felt less pessimistic about the stock during the past two weeks.
Ownership trends and trading patterns can be useful tools for predicting a stock’s performance, but it’s also important to consider the technicals in order to form a more comprehensive view. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that HBAN is a Strong buy, which implies that HBAN is expected to outperform the market based on prior trading patterns.
Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bearish. Technical indicators (also) suggest that Huntington Bancshares Incorporated (NASDAQ:HBAN) is undervalued.