Huntington Bancshares Completes Acquisition of FirstMerit; Integration Efforts Remain on Track
Narrow-moat Huntington Bancshares’ third-quarter results were largely in line with our expectations and support our current thesis on the firm. We are maintaining our $11 fair value estimate. Huntington Bancshares officially completed its acquisition of FirstMerit this quarter, and integration efforts have begun in earnest. There were many merger-related items affecting overall results and some disclosures were limited, making historical comparisons somewhat difficult. Management states it remai...Huntington Bancshares is a holding company. Through its subsidiaries, the company provides commercial, small business, consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services. The company's segments include: Consumer and Business Banking, which provides financial products and services to consumer and small business customers; and Commercial Banking, which provides products and services to the middle market, large corporate, real estate and government public sector customers.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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