Huntington Bancshares (HBAN)
Forward P/E is 9.40x against a peer median of 10.60x, a ratio of 0.89x — below the 0.90x edge of the fair range — with trailing P/E 12.87x and PEG 0.85. Latest-quarter revenue grew 30.8% year over year (PRIMARY, EDGAR), far above the cluster pace. Value-trap check: revenue is growing, not shrinking, and the cluster median growth is positive, so the low multiple is not explained by falling demand. Delivered demand check: the Banks group's median growth was 8.4% year over year — demand steady.
What would change this label: Move to FAIRLY PRICED if the forward P/E rises to about 9.54x or above (0.90x the peer median) at unchanged estimates, or if revenue growth falls below 0% year over year, which would turn the discount into a value-trap signal. Move further from fair value if the forward P/E falls below about 9.54x while revenue growth stays above 8.4% year over year.
Huntington trades at about 9 times next year's expected earnings, less than similar regional banks at about 11 times, even though its revenue grew about 31% in the latest quarter. Because sales are growing rather than shrinking, this does not look like a cheap-for-a-bad-reason price. The shares look undervalued.
Both lines start at 100 on 2020-09-01. Over the full window Huntington Bancshares returned +66.42% and the S&P 500 +118.28% (price returns; dividends not reinvested). Worst peak-to-trough fall for Huntington Bancshares: -47.4% (2022-01-14 to 2023-05-11). Source: Nasdaq official daily history.
What the label rests on
Forward P/E is 9.40x against a peer median of 10.60x, a ratio of 0.89x — below the 0.90x edge of the fair range — with trailing P/E 12.87x and PEG 0.85. Latest-quarter revenue grew 30.8% year over year (PRIMARY, EDGAR), far above the cluster pace. Value-trap check: revenue is growing, not shrinking, and the cluster median growth is positive, so the low multiple is not explained by falling demand. Delivered demand check: the Banks group's median growth was 8.4% year over year — demand steady. The company’s forward P/E is 9.4× against a peer median of 10.6×. Its own history: UNVERIFIED — no sourced range available. Sector demand read: Delivered demand check: the Banks group's median latest-quarter revenue growth was 8.4% year over year (SEC filings) — demand steady. Latest-quarter sales growth was +30.8% versus a year earlier (SEC filings).
| Company | Price (Oct 28, 2026) | Forward P/E | Trailing P/E |
|---|---|---|---|
| Huntington Bancshares (HBAN) | $15.75 | 9.4× | 12.9× |
| MTB | $220.78 | 10.8× | 11.5× |
| CFG | $65.45 | 10.6× | 13.2× |
| RF | $28.48 | 10.2× | 11.2× |
| KEY | $21.20 | 10.2× | 11.6× |
| FITB | $53.52 | 11.0× | 18.4× |
| Peer median | 10.6× |
Multiples: stockanalysis.com (SECONDARY, S&P Global data), fetched Oct 28, 2026. Peer set chosen by sector; the median is the middle value of the set. The label and its numbers were recorded in the programme’s label registry on Oct 28, 2026 and will be scored at 6 and 12 months.
Sales, profit and cash
This company does not report a gross-profit line in its SEC facts (normal for banks, payment networks and some health insurers), so profit is shown as net income instead — gross margin is marked UNVERIFIED-absent rather than estimated.
Free cash flow = cash from operations minus spending on plant and equipment, both from the company’s SEC cash-flow statement. Gaps are quarters where that spending line is not separately tagged in the filings — shown as gaps, never estimated.
| Quarter | Sales | Gross margin | Net income | EPS (GAAP, diluted) | Free cash flow |
|---|---|---|---|---|---|
| Q/E Sep 2026 2026-09-30 | $2.8B | — | $721M | 0.33 | $683M |
| Q/E Jun 2026 2026-06-30 | $2.8B | — | $727M | 0.33 | $1.0B |
| Q/E Mar 2026 2026-03-31 | $2.6B | — | $523M | 0.25 | $400M |
| Q/E Dec 2025 2025-12-31 | $2.2B | — | $519M | — | $810M |
| Q/E Sep 2025 2025-09-30 | $2.1B | — | $629M | 0.41 | $446M |
| Q/E Jun 2025 2025-06-30 | $1.9B | — | $536M | 0.34 | $500M |
| Q/E Mar 2025 2025-03-31 | $1.9B | — | $527M | 0.34 | $459M |
| Q/E Dec 2024 2024-12-31 | $2.0B | — | $530M | — | $1.5B |
| Q/E Sep 2024 2024-09-30 | $1.9B | — | $517M | 0.33 | $-480M |
| Q/E Jun 2024 2024-06-30 | $1.8B | — | $474M | 0.30 | $263M |
| Q/E Mar 2024 2024-03-31 | $1.8B | — | $419M | 0.26 | $432M |
| Q/E Dec 2023 2023-12-31 | $1.7B | — | $243M | — | $838M |
The last twelve reported quarters. Full 25-quarter history sits in the data pack behind this page. A dash means the figure is not tagged as a standalone quarter in the company’s SEC facts (the usual case is the fourth quarter, which many companies only report inside the full-year filing) — it is missing, not zero.
Earnings: getting better or worse?
Each box is one quarter’s earnings per share (EPS). Green means EPS was higher than the same quarter a year earlier; red means lower; a dash means the figure is not tagged in the filings.
Basis: GAAP diluted EPS from SEC company facts, compared with the same quarter a year earlier.
Key facts
| Item | Value |
|---|---|
| Company (legal name in filings) | HUNTINGTON BANCSHARES INC /MD/ |
| Chief executive | Stephen D. Steinour (source: https://www.huntington.com/About-Us/ExecutiveManagementTeam/stephen-d-steinour) |
| Sector | Financials — Regional Banks — runs a regional bank offering consumer, commercial and wealth services |
| Share price (Oct 28, 2026) | $15.75 |
| Market value (market cap) | $31.7B — share price times shares outstanding of 2,015,387,251 (SEC filings; SEC EDGAR dei EntityCommonStockSharesOutstanding (latest)) |
| Sales, last twelve months | $10.4B |
| Net income, last twelve months | $2.5B |
| Free cash flow, last twelve months | $2.9B |
| Latest reported quarter | Q/E Sep 2026 (of 25 quarters in the data pack) |
| Six-year price return vs S&P 500 | +66.42% vs +118.28% |
| Worst peak-to-trough fall | -47.4% (2022-01-14 to 2023-05-11) |
What we could not verify
- Revenue construction: this filer tags no single total-revenue concept in EDGAR company facts, so quarterly revenue is the sum of two tagged components — net interest income (InterestIncomeExpenseNet) plus noninterest income (NoninterestIncome) — the same total-net-revenue presentation the bank itself reports. Where a component is untagged for a quarter-end, the concept-chain value is used instead.
- Gross profit / gross margin: not tagged as a standalone line in this company's EDGAR company facts (common for banks, payment networks and some healthcare payers) — shown as UNVERIFIED-absent; the page charts revenue and net income instead.
- TTM GAAP diluted EPS could not be summed from company facts because at least one of the last four quarters (typically Q4) has no standalone tagged EPS; trailing P/E is therefore taken from the labelled secondary source in valuation_label.md.
- Own-history P/E range not yet compiled for this company in the Phase 1 batch run; the label rests on peer-median, growth and PEG evidence.
- Revenue for this company in the data pack is constructed as net interest income + noninterest income (both EDGAR-tagged; this bank tags no single total-revenue concept), so the revenue growth figure rests on that constructed total.
- Guidance record (each quarter scored against the guidance the company gave the quarter before) is not yet compiled for this company — it is a Phase 2 layer. The earnings strip below therefore uses reported EPS versus a year earlier, which is fully sourced from filings.
The IT factor — the most exciting thing the market is overlooking — is not assessed on an X-Ray page. It belongs to the Deep Dive (Phase 2), where it gets the evidence standard it needs. Leadership-era scoring (the six years split by chief executive) is likewise a Phase 2 layer; this page names the current chief executive only, from a sourced profile.
Sources
- SEC EDGAR submissions — Filing index; company legal name.
https://data.sec.gov/submissions/CIK0000049196.json - SEC EDGAR company facts — Quarterly financial spine: revenue, gross profit, net income, GAAP diluted EPS, operating cash flow, PP&E capex, buybacks, dividends, diluted shares.
https://data.sec.gov/api/xbrl/companyfacts/CIK0000049196.json - Nasdaq official daily history — Daily closes for the company; SPY (assetclass=etf) saved as raw/nasdaq_spy_raw.json over identical dates.
https://api.nasdaq.com/api/quote/HBAN/historical?assetclass=stocks - Valuation multiples and peer figures — stockanalysis.com (SECONDARY, S&P Global data), fetched Oct 28, 2026; see valuation_label.md in the data pack.
Conventions: earliest-filed value per period, as first reported; cash-flow years-to-date differenced quarter by quarter; EPS never differenced; free cash flow = operating cash flow minus plant-and-equipment spending. This page is a dated snapshot — updates are new versions, never silent edits.