FBR Capital Reiterates an 'Outperform' on Huntington Bancshares (HBAN); In-line Quarter, Capital Management Next Catalyst

FBR Capital reiterates an 'Outperform' on Huntington Bancshares (NASDAQ: HBAN), PT $8.

FBR analyst says, "Credit trends continued to improve across all asset classes, which allowed HBAN to release $116M of reserves as the company continues to work through its problem CRE construction portfolio, and Franklinrelated issues appear fully contained. With credit improving, reserves at a healthy 3.0% of loans, and a 7.8% tangible common equity ratio, we look to earnings and possibly some type of capital management as the next catalysts for the stock. HBAN has specifically stated it may explore increasing the dividend with approval from the Fed and possibly make an acquisition in-footprint in the $0.5B–$2.0B price range...We are increasing our FY11 EPS estimate to $0.65 from $0.52 and increasing our FY12 EPS estimate to $0.70 from $0.62"

For more ratings news on Huntington Bancshares click here and for the rating history of Huntington Bancshares click here.

Shares of Huntington Bancshares closed at $6.40 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Barrick Gold (GOLD) reported preliminary Q1 production of 940 thousand ounces of gold
• Veeco Announces Date for First Quarter Financial Results and Conference Call
• Wi2Wi Corporation Announces Full Year 2023 Financial Results