Huntington Bancshares Incorporated (HBAN)
This Columbus, Ohio based bank provides consumer, small business, commercial, asset management, brokerage, trust, and insurance services to customers across eight Midwestern states.
Huntington Bancshares reported third quarter adjusted earnings of 27 cents per share, beating the 25-cent per-share estimate analysts had expected thanks to higher net interest income. But the bottom line contracted 21% year over year due to increased credit provisions.
Huntington’s mortgage business should continue to provide support during the current housing market boom going forward though. As of Nov. 2, 2020, the company has a $10.62 billion market capitalization, offers a generous 5.75% dividend yield, and is trading 13.85% higher over the past month.
Huntington shares broke above a 10-month downtrend line and the 200-day SMA in October before retesting and maintaining the breakout level last week. Additionally, the 50-day SMA continues to move toward the 200-day SMA and may form what’s known as a “golden cross” buy signal later this month.
