Benzinga  Dec 17  Comment 
Below are the top mid-cap regional-midwest banks stocks on the NYSE and the NASDAQ in terms of operating margin. The trailing-twelve-month operating margin at Commerce Bancshares (NASDAQ: CBSH) is 60.00%. Commerce Bancshares' PEG ratio is...
Forbes  Oct 22  Comment 
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they...
TheStreet.com  Oct 21  Comment 
NEW YORK (TheStreet) -- Huntington Bancshares may be the thirty-sixth largest bank in the U.S. by assets, but don't tell that to its shareholders. With a grow-at-all-cost strategy and an aggressive share buyback program, the Ohio-based bank has...
SeekingAlpha  Oct 17  Comment 
By SA Transcripts: Huntington Bancshares, Inc. (NASDAQ:HBAN) Q3 2014 Results Earnings Conference Call October 17, 2014 10:00 AM ET Executives Todd Beekman - Managing Director of Strategy and IR Steve Steinour - Chairman, President...
Benzinga  Oct 17  Comment 
Huntington Bancshares (NASDAQ: HBAN) reported weaker-than-expected earnings for the third quarter. The Columbus, Ohio-based bank posted a quarterly profit of $155 million, or $0.18 per share, versus a year-ago profit of $178.8 million, or $0.20...
SeekingAlpha  Sep 19  Comment 
By Chris Katje: Huntington Bancshares (NASDAQ:HBAN) continues to be one of the biggest banking companies in the Midwest. With bank branches in Michigan, Ohio, Pennsylvania, Indiana, West Virginia, and Kentucky, the six state banking company has...
Banking Business Review  Aug 1  Comment 
US-based bank holding company Huntington Bancshares is all set to cut nearly 200 jobs throughout the Midwest in an effort to save up to $35m annually.
Benzinga  Jul 31  Comment 
Analysts at RBC Capital upgraded Huntington Bancshares (NASDAQ: HBAN) from Sector Perform to Outperform. The target price for Huntington Bancshares has been raised from $11.00 to $12.00. Huntington Bancshares shares have surged 15.91% over the...
Benzinga  Jul 31  Comment 
Motley Fool  Jul 25  Comment 
Huntington's performance is evident by its fast rising share price, but is there anything that can slow the bank down?


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Huntington Bancshares Incorporated (HBAN) is a regional bank headquartered in Columbus, Ohio. HBAN conducts activities through over 600 branches in Ohio, Michigan, Indiana, Kentucky, and West Virginia, and a network of about 988 ATMs. Net interest income contributed 70% of HBAN's adjusted net revenue in 2007, while non-interest sources such as service charges on deposits, mortgage banking, trust, and insurance contributed the balance.

HBAN's operations are grouped into three primary segments: Regional Banking (typically 6070% of company-wide operating earnings), Dealer Sales (2025%), and Private Financial & Capital Markets Group (1015%). Regional Banking provides retail banking services to households and small businesses, and also serves middle-market companies with annual sales of $100500 million headquartered in HBAN s home markets. Dealer Sales provides automobile financing (both dealer floor plan and indirect consumer loans) for more than 3,500 automobile dealers in HBAN s five banking states plus Arizona, Florida, Georgia, Pennsylvania, and Tennessee. Private Financial & Capital Markets Group offers trust, asset management, brokerage services, insurance, and private banking.

Primary real estate loans (including middle-market CRE, residential and home equity) represented more than 51.3% of total loans at December 31, 2007, followed by 25.4% of middle-market C&I, 12.5% of other consumer (primarily auto), and 10.9% of small business (including some additional real estate). As of December 31, 2007, HBAN had $54.7 billion in total assets, $40.0 billion in loans & leases, and $37.7 billion in deposits.

4Q07 earnings as well as the full year earnings suffered a significant setback following the restructuring related to the lending relationship with Franklin Credit Management Corporation, a relation that was inherited following the acquisition of Sky Financial. Continuous weakness in the residential real estate development markets too weighed upon the shares of HBAN as the company was required to build non-Franklin-related loan loss reserves. The company expects to witness weaknesses in the residential real estate development markets and softness in certain manufacturing sectors in the coming quarters. 2008 credit losses are expected to exceed the 2007 level. In fact they are expected to peak up in 2008.

The revised outlook to negative from stable by S&P and the rating downgrade by Fitch for HBAN's issuer default rating to "A-" from "A" and its individual rating to "B/C from "B", would negatively impact HBAN's earnings. The increased provisioning for loan and lease losses and increased non-accrual loans would cause a decrease in interest-earning assets.

The biggest challenge we see at HBAN is the lack of growth. While acquisitions add a one-time pop, organic growth seems hard to come by. Net revenue growth has been negative in each of the last five years now, including a 7% performance in both 2004 and 2005 and negative during 2006 as well. HBAN's long-term expected growth rate is also mediocre at present (although it looks pretty solid next to its Midwest mid-cap peers). To a large extent this reflects management's conscious decision to reduce exposure to auto loans, and represents a trade-off for the better risk profile they have achieved. Practically, though, it also serves to reduce investor appetite for the shares and to depress multiples.


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