Will KeyCorp(NYSE:KEY), Regions Financial Corp(NYSE:RF), and Huntington Bancshares Incorporated(NASDAQ:HBAN) Emerge As Winners In The Bank Holding Business?
New York, NY – GDP INSIDER – 10/23/2014.
This article discusses three bank holding companies: KeyCorp(NYSE:KEY), Regions Financial Corp(NYSE:RF), and Huntington Bancshares Incorporated(NASDAQ:HBAN)
KeyCorp(NYSE:KEY) was upgraded by Deutsche Bank from Hold to Buy on Oct. 20th, 2014. The change can five days after the company reported a net income of $197 million for third quarter 2014. KeyCorp is a Cleveland-based bank holding company that provides retail and commercial services to individual, corporate, and institutional clients. The company, which has traded within a range of $11.55 to $14.70 over the past 52 weeks, has a market capitalization of over $10.5 billion.
Regions Financial Corp(NYSE:RF) also recently released strong quarterly financial results. On Oct. 21st, the company announced a net income of $305 million, which amounts to an earnings per diluted share of $0.22. Regions claimed that its results could be attributed to its ability to meet the needs of customers while managing risk. The Alabama-based Southeast regional bank company provides banking and bank-related services to individuals and corporations in the United States.
Huntington Bancshares Incorporated(NASDAQ:HBAN) was named largest small business administration lender in the United States on Sept. 30th, 2014. Specifically, the company made 4,183 SBA loans in six states, a 37% year-over-year increase. The Ohio-based company lent 2,368 loans in its home state and 1,098 in Michigan, which has a struggling economy. Thus, one could say that Huntington is investing in struggling rust belt economies with the hope that its contributions will help to reinvigorate the region, which would result in increased business.
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