Steady Results for Huntington in 2Q; Loan Growth Continues to Be Strong
Huntington Bancshares reported second-quarter results that were largely in line with our long-term thesis. Due primarily to the time value of money, we are increasing our fair value estimate to $16 per share from $15. The bank generally raised full-year guidance, which was at least partially expected, given the tailwind from interest rates, although we were impressed by the raise for loan growth as well. Results remained strong for Huntington, as the return on tangible common equity exceeded 17%...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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