This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

10 Banks That Still Owe TARP

7. Huntington Bancshares

Company Profile

Huntington Bancshares (HBAN - Get Report) of Columbus, Ohio saw its stock rise 58% year-to-date through Wednesday, closing at $5.64.

The company owes $1.4 billion in TARP money and CEO Stephen Steinour recently told TheStreet's Debra Borchardt that Huntington has no specific timeframe to repay TARP but would rather focus on growing market share.

Huntington Announced on Wednesday an agreement to open over 100 branches within Giant Eagle Supermarkets.

Income Statement

The company reported second-quarter net income to common shareholders of $19.3 million or 3 cents a share following $10.4 million or a penny a share in the first quarter and a loss to common shareholders of $182.5 million or 40 cents a share for the second quarter of 2009.

Please see TheStreet's earnings coverage for more on Huntington's second-quarter results.

Balance Sheet

Total assets were $51.8 billion and the nonperforming assets ratio was 2.70% as of June 30, declining from 3.87% the previous quarter and 4.10% a year earlier. The second-quarter net charge-off ratio was 2.99% and reserves covered 3.72% of total loans as of June 30.

Huntington's Tier 1 leverage ratio was 10.45% and its total risk-based capital ratio was 14.79% as of June 30. The tangible common equity ratio was 5.95% according to SNL Financial, and was the lowest among this group of ten bank holding companies.

Stock Ratios

Shares trade for 1.3 times tangible book value and have a forward P/E of 12.8 based on the consensus earnings estimate for 2011 of 44 cents a share. Moving ahead to 2012, the consensus earnings estimate is 67 cents a share, dropping the forward P/E to 8.4.

Analyst Ratings

Out of 17 analysts covering Huntington, seven have buy ratings for the shares, seven recommend holding and three recommend investors sell.

4 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
ZION $27.34 -0.29%
FITB $19.45 0.72%
FHN $14.38 1.27%
HBAN $11.01 1.29%
KEY $14.31 1.63%


DOW 17,856.78 -278.94 -1.54%
S&P 500 2,071.26 -29.78 -1.42%
NASDAQ 4,927.37 -55.4390 -1.11%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs