On May 15, we issued an updated research report on Huntington Bancshares Incorporated (NASDAQ:HBAN) . The company continues to benefit from organic and inorganic growth strategies while mounting expenses and stringent regulations remain near-term concerns.
Shares of Huntington have increased 8.5% in the last six months, outpacing the 8.2% growth for the Zacks categorized Banks - Midwest industry.
However, the company’s current-year Zacks Consensus Estimate has revised 3.1% downward, over the past 30 days. As a result, it currently carries a Zacks Rank #3 (Hold).
The company witnessed consistent organic growth over the last few years. It remained focused on achieving the best deposit franchise with the deposit balance increasing at a compound annual growth rate (CAGR) of 14.0% over the three-year period ended 2016. Also, loans improved due to its commendable performance in commercial and consumer portfolio at a CAGR of12.5%.
On the back of its strong liquidity position, Huntington continues to expand through acquisitions. We expect these initiatives to support its performance and help it gain market share, going forward.
However, the company’s escalating expenses and stringent regulations are likely to keep affecting its bottom-line growth.
Some better-ranked stocks in the financial space include Comerica Inc. (NYSE:CMA) carrying Zacks Rank #1 (Strong Buy), The PNC Financial Services Group, Inc. (NYSE:PNC) and Northern Trust Corp. (NASDAQ:NTRS) , sporting a Zacks Rank #2 (Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.
Comerica‘s earnings estimates were revised upward by 8.9% for the current year, in the past 30 days. Also, its share price jumped 19.8%, over the last six months.
PNC Financial’s current-year earnings estimates were revised 1.4% upward, over the last 60 days. Further, its shares increased 13.6%, in the last six months.
Northern Trust witnessed 1.3% upward earnings estimates revision for the current year, in the past 30 days. Moreover, its shares gained 11.3% in the last six months.
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PNC Financial Services Group, Inc. (The) (PNC): Free Stock Analysis Report
Comerica Incorporated (CMA): Free Stock Analysis Report
Huntington Bancshares Incorporated (HBAN): Free Stock Analysis Report
Northern Trust Corporation (NTRS): Free Stock Analysis Report
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