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    Stock Alert for Huntington Bancshares Inc. (HBAN)

    Huntington Bancshares Inc. (HBAN) is a $53 billion regional bank holding company headquartered in Columbus, Ohio, whose principal subsidiary is The Huntington National Bank.  The Company provides personal banking for individuals and families, small business banking, banking for middle market businesses and nonprofit organizations, and specialty financial services through its offices and more than 600 local branches, more than 1,300 ATMs, and via online and mobile banking across six states: Ohio, Michigan, Indiana, Pennsylvania, West Virginia and Kentucky.  Through automotive dealership relationships within its six-state banking franchise area and selected New England states, HBAN also provides commercial banking services to the automotive dealers and retail automobile financing for dealer customers.

    Share Statistics (21-July-11) FY2009 FY2010 % Chg Q12010 Q12011 % Chg
    Symbol HBAN Revenue, $Mn
    Current price $6.09 Gross marg.
    52wk Range: $5.04-$7.70 Oper. margin 13.2% 25.1%
    Avg Vol (3m): 13,543,400 Net margin
    Market Cap. 5.26B
    Shares Outstanding 863.40M EPS, $ -3.17 0.25 -107.9% 0.02 0.14 600.0%

    Source:, SEC Filings.

    Recent News

    Shares of HBAN traded lower yesterday despite the bank holding company posting better-than-expected net profit for the second quarter.  With the Company setting aside less money to cover potential loan losses, HBAN posted a profit of $145.9 million, or 16 cents a share, ahead of the prior-year quarter’s $48.8 million, or 3 cents a share.  Analysts had predicted earnings of 15 cents a share, according to a poll by Thomson Reuters. HBAN set aside $35.8 million to cover bad loans, the lowest level since the first quarter of 2007.

    HBAN reported total revenue of $662.9 million for the second quarter.  That was down 1.3% from the year-ago quarter’s $671.8 million, but still ahead of analysts’ expectations of $652.1 million.

    “We are pleased that second quarter results represented our sixth consecutive quarterly increase in earnings and it shows the progress we are making on a number of fronts,” HBAN chairman, president and CEO Stephen D. Steinour commented in the release.  “This improvement reflected the benefits from a combination of factors such as our conservative view toward addressing credit quality early in the financial downturn, the increasing contribution from strategic investments, improving customer product penetration, and aspects of our ‘Fair Play’ banking philosophy that are gaining traction every day.”

    HBAN said its board declared a dividend of 4 cents per share, an increase from the 1 cent the Company has paid quarterly since the beginning of 2009. The dividend is payable Oct. 3 to shareholders of record on Sept. 19.

    HBAN lost $0.22, 3.49%, to close Thursday at $6.09.  It has a 52-week range of $5.04 – $7.770.  Over 53.75 million shares have traded hands during the session, versus the 10-day average volume of 16.09 million.  The stock is currently trading below its 50-day moving average of $6.33 and below its 200-day moving average of $6.71.  The current market capitalization stands at $5.26 billion and shares outstanding is at 863.40million shares.

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    Financial Strength (21-July-2011)




    S&P 500

    Quick Ratio (MRQ) 0.00 0.41 0.69
    Current Ratio (MRQ) 0.00 0.84 1.03
    LT Debt to Equity (MRQ) 67.24 48.99 82.13 125.35
    Total Debt to Equity (MRQ) 107.95 179.30 171.63 164.62
    Interest Coverage (TTM) 0.00 0.26 19.08

    Source:, SEC Filings.

    Analyst Consensus

    This is the consensus forecast among 23 polled investment analysts. Against the Huntington Bancshares Inc company.

    Analyst Detail






    No Opinion

    Latest 8 5 8 2 0 0
    4 weeks ago 8 5 8 2 0 0
    2 months ago 9 5 8 2 0 0
    3 months ago 9 6 7 2 0 0
    Last year 4 3 6 3 1 0


    Consensus Estimates Analysis

    # of Estimates




    1 Year Ago

    SALES (in millions)
    Quarter Ending Sep-11 12 636.16 684.90 416.00 664.52
    Quarter Ending Dec-11 12 640.03 692.10 422.00 665.16
    Year Ending Dec-11 15 2,550.62 2,741.30 1,650.00 2,659.91
    Year Ending Dec-12 14 2,675.01 2,824.80 1,824.00 2,719.19
    EARNINGS (per share)
    Quarter Ending Sep-11 22 0.15 0.18 0.13 0.12
    Quarter Ending Dec-11 22 0.15 0.18 0.13 0.14
    Year Ending Dec-11 24 0.58 0.66 0.38 0.43
    Year Ending Dec-12 23 0.68 0.80 0.57 0.68
    LT Growth Rate (%) 5 6.40 10.00 4.00 6.00

    Technical Analysis



    HBAN is within its Bollinger Bands. This is a normal condition suggesting that it is neither overbought nor oversold relative to the recent price action.

    The MACD for HBAN currently indicates a strong bearish signal for two reasons. First, the MACD is below the signal line, a 9-day moving average. Second, the MACD is below the critical level of 0, which implies that the underlying moving averages are trending lower.

    Comparative Analysis

    Company Name Ticker Price per Mrkt. Cap. P/E P/S
    July21-2011 symbol Share, $ $ Mn 2011 2012 2011 2012
    FirstMerit Corp. FMER 16.86 1.84B 14.92 12.40 2.59 2.52
    Fifth Third Bancorp FITB 12.76 11.72B 11.39 8.99 1.98 1.93
    Regions Financial Corp. RF 6.23 7.83B 77.88 10.05 1.19 1.19
    KeyCorp KEY 8.40 7.99B 10.91 11.05 1.92 1.87
    Regional – Midwest Banks Median       15.32 n/a 2.01 n/a
    Huntington Bancshares Inc. HBAN 6.09 5.26B 10.32 8.96 2.00 1.91

    Source: Thomson Financial

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