Huntington Bancshares IncorporatedNASDAQ
Thu, Dec. 1, 1:00 PM
Wed, Nov. 30, 7:54 AM
- Banks stocks may have priced in higher interest rates, but they're not yet discounting a stronger economy, says Deutsche Bank, noting those lenders most levered to boosted rates have had the largest post-election moves.
- Left behind somewhat are those banks most levered to stronger lending and fee volumes. Huntington Bancshares (NASDAQ:HBAN) and Wells Fargo (NYSE:WFC) are reiterated as top picks among large regional U.S. lenders.
- Goldman is raised to Buy from Hold and added to the Top Pick list. Deutsche says the strong economy should be good for the bank's capital markets business, and provide a positive backdrop for investing and lending.
- Source: Bloomberg
- Goldman +0.6% premarket
Wed, Oct. 26, 10:14 AM
- "We continue to implement revenue synergies that were not included in the original FirstMerit financial model," says CEO Steve Steinour. In particular, he says, there looks to be a better-than-hoped boost in SBA lending thanks to the bank's now-expanded footprint.
- Acquisition-related expense remain inline with expectations and guidance. Among the big drivers of Huntington's (HBAN +3.5%) organic growth during Q3 were auto and mortgage lending.
- Earnings call presentation slides
- Previously: Huntington Bancshares beats by $0.01, beats on revenue (Oct. 26)
Wed, Oct. 26, 7:36 AM
Tue, Oct. 25, 5:30 PM
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Thu, Oct. 20, 8:51 AM
Fri, Oct. 14, 9:42 AM
- JPMorgan and Citigroup both easily topped estimates thanks to a big rebound in previously-in-the-doldrums markets revenue. JPM is higher by 1%, and Citi by 2%. The read-through is pushing Goldman Sachs (GS +3%), Morgan Stanley (MS +2.7%) and Bank of America (BAC +2.4%) all nicely higher.
- Less capital-markets focused, Wells Fargo also beat forecasts, but not as soundly. As usual of late, it's lagging its TBTF peers, up just 0.3%.
- XLF +1.2%, KRE +1.4%, KBE +1.5%.
- Other individual names: Regions Financial (RF +2.5%), Huntington Bancshares (HBAN +2.1%), KeyCorp (KEY +1.9%), Fifth Third (FITB +1.5%), SunTrust (STI +1.3%), M&T (MTB +1.7%)
Tue, Oct. 11, 8:07 AM| Tue, Oct. 11, 8:07 AM | 3 Comments
Wed, Sep. 28, 9:32 AM
- "Large banks are going to be forced to take on more capital," says Dick Bove. "It will make the cost of funding more, not less, expensive. It will reduce the appeal for investors to put money at risk in the banking system."
- Bove is commenting on a weekend announcement from Fed Governor Daniel Tarullo promising future stress tests will be geared to demanding even higher cash buffers for banks. Set to take effect next year, the new rule could raise capital requirements for the largest banks by 3 or 4 percentage points, writes Jeff Cox at CNBC.
- Interested parties: BAC, C, WFC, JPM, GS, MS
- There's good news though, as those lenders with less than $250B in assets won't be subject to the same standards. FBR's Edward Mills calls it a "significant positive" for regionals, which now have more certainly on the process, reduced regulatory expenses, and thus the ability to return more capital to owners.
- Interested parties: RF, ZION, CMA, KEY, FITB, STI, NYCB, HBAN, PNC, BBT, MTB
- ETFs: KRE, KBE, IAT, KBWB, QABA, KBWR, KRU, PSCF, KRS, WDRW, DPST
Thu, Sep. 22, 3:31 PM
- Consumer complaint rates are likely to be an important metric for analyzing bank stocks going forward, and Piper's Kevin Barker and team combed through the CFPB database to see if any flags might be raised.
- What they found was that the biggest banks had the largest share of complaints (no surprise), but those with the highest rate of complaints per $1B of deposits were Fifth Third (NASDAQ:FITB), Citizens Financial (NYSE:CFG), BB&T (NYSE:BBT), and U.S. Bancorp (NYSE:USB).
- Running another screen, Barker found Citizens Financial, Wells Fargo, and Huntington Bancshares (NASDAQ:HBAN) were the lenders which most emphasized "cross-sell" or "increasing wallet share" in management comments over the past year.
Thu, Sep. 15, 6:59 AM
Wed, Jul. 27, 7:29 AM
- The Feds have demanded divestiture of certain FirstMerit (NASDAQ:FMER) branches in order to greenlight the bank's sale to Huntington Bancshares (NASDAQ:HBAN).
- Today, FirstMerit announces the sale of 13 branches in Stark and Ashtabula counties with about $735M in total deposits to First Commonwealth Bank (NYSE:FCF).
- Approval of the merger is expected this quarter.
Fri, Jul. 22, 2:52 PM
- "Both the knuckles are white, but we’re hanging in there," said U.S. Bancorp (USB +0.6%) CEO Richard Davis on his company's earnings call last week.
- Net interest margins for banks got a brief boost early this year after the Fed hiked rates in December, but there's been no hikes since, and margins are back on the decline.
- "This is really difficult for banks," said Huntington Bancshares (HBAN +1.1%) CEO Steve Steinour, whose bank last year stopped assuming any rate increases when making financial projections.
- "There are ways to compensate," said Citizens Financial (CFG +0.8%) CEO Bruce Van Saun, whose company topped expectations, and announced new cost-cutting initiatives.
Thu, Jul. 21, 6:56 AM
Wed, Jul. 20, 5:30 PM| Wed, Jul. 20, 5:30 PM | 13 Comments
Wed, Jul. 13, 12:54 PM
- The two lenders HBAN),+FirstMerit+(NASDAQ:FMER)+Required+to+Conduct+Divestitures+as+Part+of+Merger+-+DOJ/11827417.html" target="_blank">have agreed to sell 13 branches in Northeast Ohio with about $740M in deposits in order to win a green light for their merger from the DOJ. They still await final approval from the Fed.
- Huntington (HBAN -0.7%) has about $73B in assets, and more than 750 branches. FirstMerit (FMER) has $26.1B in assets and roughly 370 branches.