This Day On The Street
Continue to site
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

10 Bank Stock Picks for Bottom-Fishing Investors

10. Huntington Bancshares

Huntington Bancshares of Columbus (HBAN - Get Report), Ohio, closed at $4.71 Wednesday, down 20% from a week earlier and down 31% year-to-date.

The shares traded just below their tangible book value $4.92, according to SNL Financial.

Huntington raised its quarterly dividend payout to four cents from a penny, when the company announced its second quarter results. Based on the increased payout, the shares had a dividend yield of 3.40% at Wednesday's close.

The company earned $145.9 million, or 16 cents a share, during the second quarter, increasing from $126.4 million, or 14 cents a share in the first quarter and $48.8 million, or three cents a share, in the second quarter of 2010. The second-quarter results were boosted by a $62.1 million release of loan loss reserves. Huntington said that total loans increased 4% from a year earlier, with a 9% increase in commercial and industrial loans and 28% year-over-year increase in automobile loans.

Guggenheim Securities analyst Jeff Davis upgraded Huntington to a "buy" rating in July, with a $7 price target, calling the upgrade "a valuation call for a solidly performing Midwest regional bank," and that was when the shares were trading much higher, at 6.09.

The shares trade for 7.7 times the consensus 2012 earnings estimate of 68 cents a share, among analysts polled by FactSet.

Out of 17 analysts covering Huntington Bancshares, 10 rate the shares a buy, six have neutral ratings and one analyst recommends selling the shares.
2 of 11

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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
BPOP $25.08 0.32%
BAC $12.95 -2.26%
CATY $26.90 -2.00%
C $39.86 -2.28%
FITB $15.33 -1.29%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs