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5 Bank Earnings Winners From Jefferies

Huntington Bancshares
Huntington Bancshares (HBAN - Get Report) of Columbus, Ohio, has seen its stock return 18% year-to-date, closing Thursday at $6.45.

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The shares trade for 1.2 times tangible book value, according to HighlineFI, and for 10 times the consensus 2013 EPS estimate of 66 cents. The consensus 2012 EPS estimate is 63 cents.

Based on a quarterly payout of four cents, the shares have a dividend yield of 2.48%.

Huntington on Wednesday reported a 21% year-over-year increase in first-quarter profit, to $153.3 million, or 17 cents a share, beating the consensus EPS estimate of 14 cents.

Earnings increased from $126.9 million, or 14 cents a share, during the fourth quarter, and $126.4 million, or 14 cents a share, during the first quarter of 2011.

The company's noninterest income increased 24% from the fourth quarter and 21% year over year to $285.3 million, reflecting $23 million in gains on auto loan securitizations and $46.4 million in mortgage banking income.

Usdin rates Huntington a "Buy," and after the company reported its first-quarter results raised his price target for the shares by 50 cents to $7.50, while raising his full-year 2012 and 2013 EPS estimates both by a nickel, to $65.

The analyst said his revision "bake-in modest benefits from recent acquisitions and a better legacy net interest income run-rate."

Interested in more on Huntington Bancshares? See TheStreet Ratings' report card for this stock.

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