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Huntington Bancshares (HBAN) is downgraded to Hold with $8 price target maintained at Compass...

Huntington Bancshares (HBAN) is downgraded to Hold with $8 price target maintained at Compass Point. In yesterday's earnings call (transcript), management suggested Q2 might not be a great one, instead pinning hopes for more loan growth on H2. They also suggested Q1's decline in expenses may be reversed in Q2.
Comments (1)
  • Q2 is seasonal. I believe their previous price target was 8. Total loans lease Y/Y 40.9, 39.1. Total earnings assets Y/Y 51.0, 49.8. Tangible book value; 5.91, 5.78, 5.71, 5.49 and 5.33. Average diluted shares; 848,708, 853, 306, 863, 588, 867,551 869,164. Tangible common equity; 8.92, 8.76, 8.74, 8.41, 8.33. Possible new band of 7.50 and 6.50. Will add to HBAN at the bottom of that band.
    18 Apr 2013, 07:32 AM Reply Like
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