This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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

Huntington Puts Brakes on Home Loans Following Fed Rules

Huntington repurchased 3.7 million shares during the third quarter, at an average price of $6.68 a share. The company's Tier 1 common risk-based capital ratio was 10.28% as of Sept. 30, increasing from 10.08% the previous quarter.

Stifel Nicolaus analyst Christopher Mutascio said that "while 3Q12 results reflected a somewhat disappointing deceleration following the 5.3% growth reported in the second quarter, the result was consistent with what we have seen thus far in 3Q12 from other large cap banks and largely reflects slowing economic conditions that occurred over the summer."

Mutascio estimated that "that core EPS was roughly $0.17 for the quarter," excluding the tax benefit, and said the company missed his operating EPS estimate of 18 cents mainly because of "timing/size of expected auto loan securitizations. "

Stifel Nicolaus rates Huntington a "Hold."

Huntington's shares returned 31% year-to-date, through Wednesday's close at $7.05.

The shares trade for 1.2 times their reported Sept. 30 tangible book value of $5.71, and for 10.5 times the consensus 2013 EPS estimate of 67 cents. Based on a quarterly payout of four cents, the shares have a dividend yield of 2.27%.

HBAN Chart HBAN data by YCharts

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

RELATED STORIES:








-- Written by Philip van Doorn in Jupiter, Fla.

>Contact by Email.

Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.
3 of 3

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
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!
SYM TRADE IT LAST %CHG
HBAN $11.00 -0.50%
AAPL $124.25 -0.14%
FB $81.66 -0.67%
GOOG $542.56 -0.99%
TSLA $187.59 -0.63%

Markets

DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs