2. Huntington Bancshares
While Huntington Bancshares was not part of the group of 19 large, complex, bank holding companies whose stress test results were publicly announced by the Federal Reserve, the company was included in the 2012 round of tests, and on Thursday said the regulator had no objections to its capital plan, which "the potential repurchase of up to $182 million shares of common stock and a continuation of Huntington's current common dividend through the first quarter of 2013."Huntington pays a quarterly dividend of four cents, for a yield of 2.49%. The shares trade for 1.3 times tangible book value, and for 11 times the consensus 2012 EPS estimate of 59 cents. The consensus 2013 EPS estimate is 64 cents. Guggenheim Securities analyst Jeff Davis has a neutral rating on Huntington, with a $6.50 price target, and said on Thursday that the company's buyback "modestly higher than the $150 million we had modeled over the next four quarters, approximates 37% of net income we are projecting for 2Q12-1Q13 and 39% net of preferred dividends." Davis estimates that Huntington will earn 57 cents a share this year, followed by 2013 EPS of 60 cents. Interested in more on Huntington Bancshares? See TheStreet Ratings' report card for this stock.
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