The Motley Fool Previous Page

The Basics of Huntington Bancshares

Amanda Alix
September 21, 2012

Worldwide Invest Better Day 9/25/2012

For well-nigh 20 years now, the Motley Fool has been here to help you invest better and smarter, using spot-on analysis and a razor-sharp wit. To celebrate Worldwide Invest Better Day on September 25, we are taking some time to get back to the basics -- of investing, that is. In that spirit, I have rounded up some sweet financial sector stocks that have been showing some real sparkle and promise lately.

Without further ado, let me introduce you to the focus of this particular article: Ambitious Midwest regional, Huntington Bancshares (Nasdaq: HBAN  ) .

A strong, sturdy Midwestern bank
Huntington Bancshares, headquartered in Columbus, Ohio, has a market cap of nearly $6 billion and a network of over 650 branches that reaches into Michigan, Pennsylvania, Indiana, West Virginia, and Kentucky. This network surely helped earlier this year when Huntington stepped in to take on the $818 million in assets and nearly $748 million in deposits of failed Fidelity Bank of Dearborn. Huntington has been upfront about wanting to expand in Michigan, and last month was mentioned as a possible buyer for Citizens Republic Bancorp (NYSE: CRBC  ) . Citizens had hired JPMorgan Chase (NYSE: JPM  ) to help find interested parties for such a scenario, though no acquisition has materialized.

Very recently, Huntington was in analysts' sights, with different results. The bank's shares dropped after a downgrade by Bernstein Research, in which the analysis claimed that Huntington, BB&T (