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Tuesday, January 16, 2018

Huntington Bancshares Valuation – January 2016 Update $HBAN

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Benjamin Graham taught that Intelligent Investors must do a thorough fundamental analysis of investment opportunities to determine their intrinsic value and inherent risk.  This is best done by utilizing a systematic approach to analysis that will provide investors with a sense of how a specific company compares to another company or by reviewing the 10 Most Undervalued Companies for the Defensive Investor – November 2015.  By using the ModernGraham method one can review a company’s historical accomplishments and determine an intrinsic value that can be compared across industries.  What follows is a stock analysis showing a specific look at how Huntington Bancshares (HBAN) fares in the ModernGraham valuation model.

Company Profile (obtained from Google Finance): Huntington Bancshares Incorporated (Huntington) is a diversified regional bank holding company. The Company operates through its subsidiary, The Huntington National Bank (the Bank). It provides commercial, small business, consumer and mortgage banking services, automobile financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services. It operates in five segments: Retail and Business Banking, Commercial Banking, Automobile Finance and Commercial Real Estate, Regional Banking and The Huntington Private Client Group, and Home Lending. Its loan portfolio includes commercial and industrial, commercial real estate, construction CRE, automobile, home equity, residential mortgage and consumer loans/leases. The Bank has approximately 14 private client group offices and 715 branches, including 404 in Ohio, 43 in Indiana, 179 in Michigan, 31 in West Virginia, 48 in Pennsylvania and 10 in Kentucky.

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Premium members can view a full ModernGraham valuation of the company and have access to download a PDF version of the valuation for easy reference. Here is a free sample valuation pdf, and here is a post detailing what can be found within each individual company’s valuation.

Useful Links:

ModernGraham tagged articles Morningstar
Google Finance MSN Money
Yahoo Finance Seeking Alpha
GuruFocus SEC Filings

Most Recent Balance Sheet Figures

Balance Sheet Information Sep15
Long-Term Debt $6,359,445,000
Total Assets $70,210,180,000
Intangible Assets $735,662,000
Total Liabilities $63,627,540,000
Shares Outstanding (Diluted Average) 814,326,000

Earnings Per Share History

Next Fiscal Year Estimate $0.80
Dec14 $0.72
Dec13 $0.72
Dec12 $0.71
Dec11 $0.59
Dec10 $0.19
Dec09 -$6.14
Dec08 -$0.44
Dec07 $0.25
Dec06 $1.92
Dec05 $1.77
Dec04 $1.71
Dec03 $1.61
Dec02 $1.33
Dec01 $0.54
Dec00 $1.29
Dec99 $1.62
Dec98 $1.17
Dec97 $1.25
Dec96 $1.29
Dec95 $1.11

Earnings Per Share – ModernGraham History

Next Fiscal Year Estimate $0.74
Dec14 $0.67
Dec13 $0.16
Dec12 -$0.42
Dec11 -$1.02
Dec10 -$1.50
Dec09 -$1.74
Dec08 $0.65
Dec07 $1.28
Dec06 $1.76
Dec05 $1.58
Dec04 $1.42
Dec03 $1.28
Dec02 $1.14
Dec01 $1.09
Dec00 $1.35
Dec99 $1.35

Recommended Reading:

Other ModernGraham posts about the company

Huntington Bancshares Inc. Analysis – October 2015 Update $HBAN
The 8 Best Stocks For Value Investors This Week – 6/27/15
Huntington Bancshares Analysis – June 2015 Update $HBAN
24 Companies in the Spotlight This Week – 3/28/15
Huntington Bancshares Inc. Quarterly Valuation – March 2015 $HBAN

Other ModernGraham posts about related companies

Wells Fargo & Co Valuation – December 2015 Update $WFC
Citigroup Inc Valuation – December 2015 Update $C
People’s United Financial Corp Valuation – December 2015 Update $PBCT
M&T Bank Corp Valuation – December 2015 Update $MTB
KeyCorp Valuation – November 2015 Update $KEY
State Street Corp Valuation – November 2015 Update $STT
BB&T Corporation Valuation – November 2015 Update $BBT
PNC Financial Services Group Valuation – November 2015 Update $PNC
SunTrust Banks Inc. Valuation – November 2015 Update $STI
U.S. Bancorp Valuation – November 2015 Update $USB


The author did not hold a position in any company mentioned in this article at the time of publication and had no intention of changing that position within the next 72 hours.  See my current holdings here.  This article is not investment advice; any reader should speak to a registered investment adviser prior to making any investment decisions.  ModernGraham is not affiliated with the company in any manner.  Please be sure to review our detailed disclaimer.

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