Cramer's Top Financial Speculative Play--Huntington Bancshares (HBAN)
More News related to HBAN
- The Huntington National Bank Announces Completion of Its Offer to Purchase for Cash Subordinated Bank Notes
- CEO of Huntington Bank to Participate in SBA Forum With U.S. Treasury and Hold Media Conference Call November 18, 2009
- The Huntington National Bank Announces Results to Date of its Offer to Purchase for Cash Subordinated Bank Notes With Aggregate Principal Amount up to $400 Million
- Huntington's 'Checkin' it Twice List' Can Help You Save Money This Holiday Season
- Huntington Bancshares (HBAN) Chairman/CEO Steinour Buys 139K Shares
On Mad Money on Friday night, Jim Cramer said Huntington Bancshares (Nasdaq: HBAN) is now the best speculative stock in the financial sector. Cramer said that HBAN has been weighed down by fears the bank may not be able to raise suitable capital. However, Cramer noted that fear has passed since Huntington Bancshares raised $324 million in a recent secondary offering.
Jim noted that Huntington's new CEO is aggressively cutting costs to help improve its balance sheet.
Finally, Cramer liked that insiders are stepping up and putting their own money into the stock--six insiders are buying huge amounts of Huntington's shares.
Huntington Bancshares are trading up 13% to $4.15 in pre-market trading.
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