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Nomura Securities Starts Huntington Bancshares (HBAN) at Neutral

February 6, 2013 8:22 AM EST Send to a Friend
Get Alerts HBAN Hot Sheet
Price: $9.84 +0.31%

Rating Summary:
    8 Buy, 19 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 3 | Down: 4 | New: 7
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Nomura Securities initiates coverage on Huntington Bancshares (NASDAQ: HBAN) with a Neutral. PT $7.50.

Analyst Keith Murray comments, "HBAN has solid capital and credit and has enjoyed good NIM stability since 1Q10 via improved deposit mix and pricing. The bank has also made progress on cross selling and improving revenue per relationship. But we see sluggish loan growth and negative. HBAN faces pressure on the asset yield side, as do other banks, but it has an opportunity to re-price over $4bn of high-cost CDs in 2013, which could help provide a buffer and reduce liability costs. We think HBAN’s expenses will outgrow revenue in 2013, and expect 100bps of negative operating leverage versus the 226bps expected by consensus. FY13E EPS at $0.67; FY14E EPS at $0.69."


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 $7.12 yesterday.




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