Why Huntington Bancshares (HBAN) Stock Is Up Today

NEW YORK (TheStreet) -- Huntington Bancshares (HBAN) was gaining 3.3% to $9.61 Friday after beating analysts' estimates for earnings and revenue in the second quarter.

For the second quarter Huntington Bancshares posted earnings of 19 cents a share, beating the Capital IQ Consensus Estimates of 18 cents a share by 1 cent. Revenue grew 4.9% year-over-year to $716.8 million in the quarter, beating analysts' estimates of $691.69 million.

"Average loans increased $3.7 billion from the second quarter of 2013, driven by growth in commercial and auto lending, reflecting heightened consumer and business confidence in the economy," chairman, president, and CEO Steve Steinour said in a press release.

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TheStreet Ratings team rates HUNTINGTON BANCSHARES as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate HUNTINGTON BANCSHARES (HBAN) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

HBAN ChartHBAN data by YCharts

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.

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