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Huntington (HBAN) Marked As A Barbarian At The Gate

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Huntington ( HBAN) as a "barbarian at the gate" (strong stocks crossing above resistance with today's range greater than 200%) candidate. In addition to specific proprietary factors, Trade-Ideas identified Huntington as such a stock due to the following factors:

  • HBAN has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $136.3 million.
  • HBAN has traded 10.1 million shares today.
  • HBAN traded in a range 275.3% of the normal price range with a price range of $0.75.
  • HBAN traded above its daily resistance level (quality: 15 days, meaning that the stock is crossing a resistance level set by the last 15 calendar days. The resistance price is defined by the Price - $0.01 at the time of the signal).

Stocks matching the 'Barbarian at the Gate' criteria are worthwhile stocks to watch for a variety of factors including historical back testing and volatility. Trade-Ideas targets these opportunities because the stock is exhibiting an unusual behavior while displaying positive price action. In this case, the stock crossed an important inflection point; namely, 'resistance' while at the same time the range of the stock's movement in price is more than twice its normal size. This large range foreshadows a possible continuation as the stock moves higher.

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More details on HBAN:

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, small business, and consumer banking services. The stock currently has a dividend yield of 2%. HBAN has a PE ratio of 13.5. Currently there are 4 analysts that rate Huntington a buy, no analysts rate it a sell, and 11 rate it a hold.

The average volume for Huntington has been 10.9 million shares per day over the past 30 days. Huntington has a market cap of $7.9 billion and is part of the financial sector and banking industry. The stock has a beta of 1.14 and a short float of 1.7% with 0.93 days to cover. Shares are down 3.3% year-to-date as of the close of trading on Thursday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Huntington as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, expanding profit margins and attractive valuation levels. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

Highlights from the ratings report include:

  • The revenue growth came in higher than the industry average of 12.8%. Since the same quarter one year prior, revenues slightly increased by 0.5%. This growth in revenue does not appear to have trickled down to the company's bottom line, displaying stagnant earnings per share.
  • Compared to its closing price of one year ago, HBAN's share price has jumped by 28.94%, exceeding the performance of the broader market during that same time frame. Regarding the stock's future course, although almost any stock can fall in a broad market decline, HBAN should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • The gross profit margin for HUNTINGTON BANCSHARES is currently very high, coming in at 91.74%. It has increased from the same quarter the previous year. Along with this, the net profit margin of 20.68% is above that of the industry average.
  • HUNTINGTON BANCSHARES reported flat earnings per share in the most recent quarter. Stable earnings per share over the past year indicate the company has sound management over its earnings and share float. Despite the past stability of earnings, the consensus estimate anticipates a weakening in earnings. During the past fiscal year, HUNTINGTON BANCSHARES's EPS of $0.72 remained unchanged from the prior years' EPS of $0.72. For the next year, the market is expecting a contraction of 1.4% in earnings ($0.71 versus $0.72).

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