12 Most Undervalued Stocks to Invest in for Under $20

7) Huntington Bancshares Incorporated (NASDAQ:HBAN)

Forward P/E as of January 17: 12.3x

Share Price as of January 17: $17.01

Number of Hedge Fund Holders: 34

Huntington Bancshares Incorporated (NASDAQ:HBAN) operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the US. Truist Securities initiated coverage on the company’s shares with a positive outlook. The firm provided a “Buy” rating and established a price target of $19.00. Brian Foran, an analyst at Truist Securities, lauded Huntington Bancshares Incorporated (NASDAQ:HBAN) for its strong standing in its primary markets of Ohio and Michigan, and strategic expansion into new growth areas like North Carolina, South Carolina, and Texas.

The analyst believes that Huntington Bancshares Incorporated (NASDAQ:HBAN) has a strong potential for capital deployment over the coming years. Its accumulation of other comprehensive income (AOCI) can offer financial flexibility. Huntington Bancshares Incorporated (NASDAQ:HBAN)’s expansion into the Carolinas can offer access to new customer bases and business opportunities, fueling loan growth, deposit acquisition, and fee income.

Huntington Bancshares Incorporated (NASDAQ:HBAN)’s success in capital markets reflects that the bank can expand its product offerings and services. By leveraging this expertise in new markets, it can create additional revenue streams and enhance its competitive position. The company’s expansion into the Carolinas opens up new opportunities to acquire new retail customers and corporate clients, fueling growth in deposit bases and loan portfolios.