Huntington Bancshares (HBAN) is expected to report Q4 earnings before market open on Thursday, January 22 with a conference call scheduled for 1:00 pm.
Analysts are looking for EPS of 20c on revenue of $628.16M. The consensus range for EPS is 7c-28c, while the consensus range for revenue is $616.48M-$645.79M, according to First Call. In late morning trading, Huntington Bancshares' (HBAN) stock gained 31c, or 8.14%, to $4.12. Tuesday, the shares set a new 52-week low of $3.79.
Friedman Billings recently initiated Huntington Bancshares with a Market Perform rating. The firm believes the company will survive the financial and economic crisis, and thinks the bank's multiples will increase over the long-term. However, in the short-term, Friedman Billings predicts that several overhangs will keep the stock's value down until the bank's earnings visibility increases. Two regional banks -- Regions Financial (RF) and Marshall & Ilsley (MI) -- have already reported weaker than expected results. The firm recommends waiting for a better entry point before buying the stock.
Huntington Bancshares last week hired a new CEO, Stephen Steinour. Investors will be interested to hear whether Steinour will implement any new strategies.