KBW Bank Index
rose 1.4% on Thursday to close at 61.41, with all 24 index components ending the session with gains.
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.
Interested in more on Huntington Bancshares? See TheStreet Ratings' report card for this stock.
-- Written by Philip van Doorn in Jupiter, Fla.