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Huntington Bancshares: Financial Winner

The KBW Bank Index (I:BKX) rose 1.4% on Thursday to close at 61.41, with all 24 index components ending the session with gains.

Huntington

Huntington Bancshares of Columbus, Ohio, has seen its stock return 22% this year, following a 19% return during 2012. The shares trade for 1.3 times their reported March 31 tangible book value of $5.91, and for 11.0 times the consensus 2014 EPS estimate of 70 cents. The consensus 2013 EPS estimate is 67 cents.

Based on a quarterly payout of 5 cents, the shares have a dividend yield of 2.59%. Huntington in March announced regulatory approval for its plan for up to $227 million in common share repurchases through the first quarter of 2014.

Bank of America Merrill Lynch analyst Erika Penala rates Huntington a "buy" with an $8.00 price target, and in a note to clients on May 30 wrote that the bank was a solid play on rising long-term rates with a "reasonable" valuation.

HBAN ChartHBAN data by YCharts

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

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

>Contact by Email.

Stock quotes in this article: HBAN, SWY, GCI, BLC, I:BKX 
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.

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