Compass Point Upgrades Huntington Bancshares (HBAN) to Buy Post Q4
Tweet
Share
E-mailGet Alerts HBAN Hot Sheet
Price: $13.76 --0%
Rating Summary:
16 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 9 | New: 5
Rating Summary:
16 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 9 | New: 5
Join SI Premium – FREE
Compass Point upgraded Huntington Bancshares (NASDAQ: HBAN) from Neutral to Buy with a price target of $8.00 (from $6.00), post Q4 results.
The firm comments, "Concerns regarding NIM compression, NII decline, pressure from the mortgage banking segment and expense ratios appear more than priced into the stock and we expect core results to be repeatable. 4Q12 EPS of $0.19 beat consensus by $0.02 and the 2013 outlook improved. Driving the 4Q13 beat was stronger than expected NIM, loan growth and mortgage banking income. We estimate core EPS of $0.18, still $0.01 ahead of consensus. Our new $8 price target represents 12x our 2014 EPS estimates and a multiple of 1.08x YE14 our BVPS estimate of $7.39."
For an analyst ratings summary and ratings history on Huntington Bancshares click here. For more ratings news on Huntington Bancshares click here.
Shares of Huntington Bancshares closed at $7.00 yesterday.
The firm comments, "Concerns regarding NIM compression, NII decline, pressure from the mortgage banking segment and expense ratios appear more than priced into the stock and we expect core results to be repeatable. 4Q12 EPS of $0.19 beat consensus by $0.02 and the 2013 outlook improved. Driving the 4Q13 beat was stronger than expected NIM, loan growth and mortgage banking income. We estimate core EPS of $0.18, still $0.01 ahead of consensus. Our new $8 price target represents 12x our 2014 EPS estimates and a multiple of 1.08x YE14 our BVPS estimate of $7.39."
For an analyst ratings summary and ratings history on Huntington Bancshares click here. For more ratings news on Huntington Bancshares click here.
Shares of Huntington Bancshares closed at $7.00 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- WesBanco (WSBC) PT Lowered to $27 at Stephens
- Goldman Sachs Upgrades Akzo Nobel NV (AKZA:NA) (AKZOY) to Neutral
- Wabtec (WAB) PT Raised to $180 at Stephens
Create E-mail Alert Related Categories
Analyst EPS View, Analyst PT Change, UpgradesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
