Huntington Bancshares Incorporated logo HBAN - Huntington Bancshares Incorporated

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY 1
BUY 23
HOLD 21
SELL 3
STRONG
SELL 0
| PRICE TARGET: $20.38 DETAILS
HIGH: $22.00
LOW: $18.00
MEDIAN: $21.00
CONSENSUS: $20.38
UPSIDE: 14.05%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Banks, Insurers & Asset Managers 85% confidence

Primary model: P/Tangible Book × ROE Quality

Valuation Signal Fair Value Mild
Trading 14.4% below fair value
Current Price $17.87
Bear Case $14.61 18.2% downside ($14.61 - $17.87) / $17.87 = -18.2% ROTCE 9.4% → 0.98x TBV
Fair Value $20.87 16.8% upside ($20.87 - $17.87) / $17.87 = 16.8% ROTCE 12.6% → 1.55x TBV
Bull Case $27.13 51.8% upside ($27.13 - $17.87) / $17.87 = 51.8% ROTCE 14.5% → 1.89x TBV

Adjust Assumptions

12.6%
9.5%

Key Value Driver

ROTCE (12.6%) vs. cost of equity (9.5%)

Implied Market Multiple 2.06x

Plain-Language Summary

Our base-case estimate uses P/Tangible Book × ROE Quality. We then blend that result with the average analyst price target of $20.38 from 48 analysts, using a 30% weight on analyst consensus. That produces an estimated intrinsic value of $20.87 per share.

Warnings

⚠ Traditional cash flow models don't work well for banks — lending activity distorts how much cash the business actually generates.
⚠ Common valuation shortcuts don't apply here — for banks, interest payments are a core business cost, not overhead.
ℹ Dividend-based valuation: $6.62 (69% below our primary estimate). Large gaps suggest the dividend may not fully reflect the company's value.

Key Risks

  • Book value quality matters as much as level — check loan loss reserves
  • Interest rate sensitivity creates non-linear earnings surprises
  • Insurance reserving is actuarial, not financial — errors emerge slowly