HBAN - Sector: Financial --- Industry: Regional - Midwest Banks

[setravis]

Profile:  


Huntington Bancshares Inc.
Huntington Center
41 South High Street
Columbus, OH 43287
United States - Map
Phone: 614-480-5413
Fax: 614-480-5746
Web Site: http://www.huntington.com

DETAILS  
Index Membership: S&P 500
S&P 1500 Super Comp
Sector: Financial
Industry: Regional - Midwest Banks
Full Time Employees: 10,951


BUSINESS SUMMARY  
Huntington Bancshares Incorporated operates as the holding company for The Huntington National Bank that provides commercial and consumer banking services. It offers deposit products, including checking accounts, savings accounts, interest bearing and non-interest bearing demand deposits, time deposits, money market deposits, and brokered deposits and negotiable certificates of deposits. The company's lending portfolio comprises home equity loans and lines of credit, first mortgage loans, direct installment loans, small business loans, automobile loans and leases, residential mortgage loans, commercial and industrial loans and leases, and commercial real estate loans. In addition, the company provides retail and commercial insurance agency services; and an array of insurance products, including individual life insurance products, such as basic term-life insurance, estate planning, group life and health insurance, property and casualty insurance, mortgage title insurance, and reinsurance for payment protection products. Further, it offers trust, asset management, investment advisory, brokerage, and private banking products and services; investment banking, sales and trading of securities, mezzanine capital financing, and interest rate risk management products for corporate and institutional customers; and investment management and custodial services. Additionally, Huntington Bancshares provides mortgage banking, equipment leasing, and other financial products and services; and Internet banking and telephone banking services. As of December 31, 2008, the company operated 345 banking offices in Ohio, 115 in Michigan, 57 in Pennsylvania, 51 in Indiana, 28 in West Virginia, and 13 banking offices in Kentucky, as well as 4 private banking offices in Florida, 1 foreign office in the Cayman Islands, and 1 foreign office in Hong Kong. It also operated approximately 1,400 automated teller machines. The company was founded in 1866 and is headquartered in Columbus, Ohio.

[setravis]

COLUMBUS, Ohio, April 9, 2009 /PRNewswire-FirstCall via COMTEX/ -- Huntington Bank is projected to become the third largest SBA 7(a) lender in the nation in 2009, based on an analysis by the Coleman Report, a California-based, industry-wide publication that closely follows SBA lending.

According to the March 9 issue of the report, Huntington is expected to rank fourth after Wells Fargo Bank, U.S. Bank and Wachovia Bank. The analysis is based on the SBA's first quarter, fiscal year 2009 results. Moreover, Wells Fargo has purchased Wachovia, moving Huntington up to the third spot.

"Small businesses are vital members of our communities because they create the majority of jobs," said Mary Navarro, senior executive vice president, who leads Huntington's retail banking. "Huntington's SBA lending record underscores our commitment to build relationships with small businesses in order to help them prosper and grow."

In the first quarter of fiscal 2009, Huntington's SBA 7(a) loan volume topped $50 million. The report also indicates that Huntington is one of only two banks out of the top 30 lenders that are projected to increase SBA lending this year.

Huntington's SBA-enhanced loans can be used by small business owners for real estate, business acquisition or expansion, start-up costs, equipment purchases, working capital and more. For more information about Huntington's SBA-guaranteed loan program, visit www.huntington.com.

About Huntington

Huntington Bancshares Incorporated (HBAN, Trade) is a $54 billion regional bank holding company headquartered in Columbus, Ohio. Huntington has more than 143 years of serving the financial needs of its customers. Huntington's banking subsidiary, The Huntington National Bank, provides innovative retail and commercial financial products and services through over 600 regional banking offices in Indiana, Kentucky, Michigan, Ohio, Pennsylvania, and West Virginia. Huntington also offers retail and commercial financial services online at huntington.com; through its technologically advanced, 24-hour telephone bank; and through its network of almost 1,400 ATMs. Selected financial service activities are also conducted in other states including: Private Financial and Capital Markets Group offices in Florida; and Mortgage Banking offices in Maryland and New Jersey. Huntington Insurance offers retail and commercial insurance agency services in Indiana, Ohio, Michigan, Pennsylvania, and West Virginia. International banking services are made available through the headquarters office in Columbus, a limited purpose office located in the Cayman Islands, and another located in Hong Kong.

SOURCE Huntington Bancshares Incorporated



http://www.huntington.com 

Copyright (C) 2009 PR Newswire. All rights reserved

[setravis]

I like this group of small banks. Solid dividends good fundamentals, I want to see how these do as a group. Can't help but be impressed with the price of the stock lately.
From a technical perspective stock has been riding up on the 13-day ma.

Possible...Double Bottom (Reversal) Pattern...
The double bottom is a major reversal pattern that forms after an extended downtrend. As its name implies, the pattern is made up of two consecutive troughs that are roughly equal, with a moderate peak in-between.

Although there can be variations, the classic double bottom usually marks an intermediate or long-term change in trend. Many potential double bottoms can form along the way down, but until key resistance is broken, a reversal cannot be confirmed.

It is important to remember that the double bottom is an intermediate to long-term reversal pattern that will not form in a few days. Even though formation in a few weeks is possible, it is preferable to have at least 4 weeks between lows. Bottoms usually take longer than tops to form and patience can often be a virtue. Give the pattern time to develop and look for the proper clues. The advance off of the first trough should be 10-20%. The second trough should form a low within 3% of the previous low and volume on the ensuing advance should increase. Volume indicators such as Chaikin Money Flow, OBV and Accumulation/Distribution can be used to look for signs of buying pressure. Just as with the double top, it is paramount to wait for the resistance breakout. The formation is not complete until the previous reaction high is taken out.


52wk Range: 1.00 - 13.50
Volume: 43,864,525
Avg Vol (3m): 20,397,600

Technicals
13-day EMA Cross Above 50-day MA
Most Actives
Percentage Gainer

Last Price Quote is:
50.75%above 13-day MA
56.81%above 50-day MA
RS Rating: 9 

Fundamentals
Earnings Expected on Apr 21

Key Data:
Market Cap (M): $1,424.34 
P/E Ratio: 41.64 
PEG Ratio: -3.48 
Next Earnings: 04/21/2009
Last Analyst Rating: Hold

[setravis]

Looking at the chart from a 3 month perspective.
A Classic Cup with Handle (Continuation) Pattern could be forming...
We could be in the midst of a textbook Cup with Handle (Continuation) Pattern formation looking at the 3 month chart. We have almost completed the "Cup" and if you see the Handle being formed, we will be off to the races shortly thereafter.

The Cup with Handle is a bullish continuation pattern that marks a consolidation period followed by a breakout. It was developed by William O'Neil and introduced in his 1988 book, How to Make Money in Stocks.

As its name implies, there are two parts to the pattern: the cup and the handle. The cup forms after an advance and looks like a bowl or rounding bottom. As the cup is completed, a trading range develops on the right hand side and the handle is formed. A subsequent breakout from the handle's trading range signals a continuation of the prior advance.

As with most chart patterns, it is more important to capture the essence of the pattern than the particulars. The cup is a bowl-shaped consolidation and the handle is a short pullback followed by a breakout with expanding volume. A cup retracement of 62% may not fit the pattern requirements, but a particular stock's pattern may still capture the essence of the Cup with Handle.

The classic look...

[setravis]

updated chart look...