NEW YORK (TheStreet) -- Huntington Bancshares (HBAN - Get Report) stock closed higher by 0.21% to $11.76 on Friday afternoon, after the Ohio-based regional bank posted strong fiscal 2015 second quarter earnings results on Thursday.
For the latest quarter, the company earned 23 cents per share on revenue of $772.5 million. Earnings for the most recent quarter increased from the second quarter of 2014, when the company reported earnings of 19 cents per share on revenue of $710.1 million.
Analysts had forecast that the company would report earnings of 21 cents per share on revenue of $737.93 million.
"We received an immediate benefit to our earnings from Huntington Technology Finance, while robust mortgage lending volume drove growth in mortgage banking income," CEO Steve Steinour said in a statement.
Additionally, main street banks are boosting profits by increasing fee income and trimming expenses amid low interest rates, according to The Wall Street Journal.
Separately, 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 a number of strengths, 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 growth in earnings per share, increase in net income, revenue growth, expanding profit margins and solid stock price performance. We feel its strengths outweigh the fact that the company shows weak operating cash flow."
You can view the full analysis from the report here: HBAN Ratings ReportHBAN data by YCharts