Results Should Steadily Improve in 2017 as Huntington Transforms Into a New Bank
Narrow-moat-rated Huntington Bancshares reported a strong end to 2016, and we are raising our fair value estimate to $12 per share from $11, partially due to the time value of money and partially from updating our model with the latest numbers. Results continue to be noisy from the FirstMerit integration, but core operations achieved operating leverage in 2016, and we expect even more to be realized as the acquisition is digested. Return on tangible common equity was 10.2% for the full year, whi...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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