On the basis of Ohio Huntington Bancshares appears on an MSN Money list of recommended stocks. Here, StockScouters are the best investment ideas.
With record profits and shares trade in the vicinity of annually 4 1/2 high, Huntington Bancshares (HBAN) reaping the rewards came a contrarian bet than the company out of the great recession.
As some regional banks were cutting costs and raising the fees for customers who took the owner of the Huntington National Bank the opposite tack, setting up investment in branch of rebranding, branches in grocery stores, expand loans for small businesses and more and more customer-friendly, with free checking accounts, and other features.
Columbus, Ohio, company continue to win customers over ts six country: the Bank said it 30,000 new checking accounts in the three months up to added June 30. More than 300,000 customers have been added since the Bank presented their consumer initiatives in the year 2010, said officials this week in the second quarter financial results reported. The Bank has now 1.3 million households with a checking account.
Huntington National Bank operates about 680 stores in Ohio, Michigan, Pennsylvania, West Virginia, Kentucky, and Indiana. The Bank provides small businesses and retail of corporate customers with traditional services as well as credit cards, mortgages, brokerage services, vehicle financing, asset management and insurance.
The company is created on a daily ranking with StockScouter, a MSN Money tool that identifies stocks with strong growth prospects in the near future. All stock with Scout's ratings of 8, 9 or 10 shall apply to the list, which is then shortened to exclude stocks with trading volume among 50,000 shares per day. The remainders are mapped according to market capitalisation, sector membership and whether they are growth or value stocks.
A significant driver of growth for consumer checking accounts, as well as small business loan is the Bank close to the heart of the nation shale gas boom. One of the most prolific centers of shale gas activity is the Marcellus shale formation, the geologic structure, which discovered the largest source of natural gas in the United States. The formation is areas where Huntington Bank is active in parts of Northern and Western Pennsylvania and Eastern Ohio.
Steve Steinour, Huntington's Chairman, President and Chief Executive since the beginning of 2009 gets usually the lion's share of credit for the implementation of the Bank in the position to compete for new business. Even though the Bank was absorbing losses in the economic downturn, magazine went in Steinour and the bank managers in offensive and "invest heavily in talent, branches and divisions, better capable of it for growth again the economy," a banker naming Steinour its banker of the year 2012.
Other awards came this spring by J.D. power & Associates, which rated Huntington No.1 for customer service among the 25 largest banks in the Midwest, based on a customer survey.
Under the leadership of Steinour, Huntington has branches in Giant Eagle stores in Michigan, Ohio and Meijer sit supermarkets because the company is trying, in addition to rival set and grow its market share.
The Bank reported to the 18 that profit fell 1% in the second quarter, citing fewer loans and a drop in mortgage banking income as interest rates rose. Even though sales fell short, they disappear the the result nor Wall Street forecast.
The company also announced that it plans to fix his retirement at the end of the year. Employees keep pension benefits that they've earned, and the company offers a revised 401k-plan to employees in the year 2014.
19 Analysts covering the company have four "strong buy" ratings on the stock exchange a prices have a "buy," 13 "hold recommendations and has a"strong sell"-review."
Huntington Bancshares has a StockScouter rating of 10, which means that the stock is expected to in the next six months with less than the average risk significantly outperform the market.
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Here at MSN Money, we think, that ours is about as well how StockScouter rating system goes, if you try to decide where to invest. StockScouter seeks based predictions for stocks, whose company fundamentals, prices, estimating and stock ownership appear characteristics to a rising price in the future as these factors of stock prices in the past have influenced.
The system assigns each bearing a much-anticipated six month return and balance this return against expected volatility of the stock. Scout rates stocks on a scale of 1 to 10, and reviews can change daily. Booth at publishing this article reviews and data in the table were listed.
In addition to the daily top 10 list above, of research firm of Verus Analytics StockScouter used described, (previously known as gradient Analytics quantitative business unit), to generate a monthly benchmark portfolio of stocks that the market has monthly updated since its inception in August 2001 surpassed.
An investor who started in 2001 by investing in each of the benchmark portfolio top 10 stocks to earlier in the month, at the end of the month and then start fresh with a new group of 10 would be to sell shares is, before the trading costs and taxes until June 30, 2013 892% was generated.
A columnist for MSN Money, with companies began working at the time writer Jon Markman, researchers on the tool. Markman suggested the top 10 stocks roll over every six months to keep trading costs, a strategy that may be a better fit for most investors. This would be different results which would vary based on your starting point.
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