Today's Analysis on Huntington Bancshares and Fifth Third Bancorp: Loans,
Deposits and Credit Quality Positive
LONDON, January 25, 2013
LONDON, January 25, 2013 /PRNewswire/ --
Midwest banks such as Fifth Third Bancorp (NASDAQ:FITB) and Huntington
Bancshares Inc. (NASDAQ:HBAN) have been turning in stellar quarterly results
of late. StockCall issues its technical and charting coverage on these two
regional banks. These free reports are accessible for free at
Several key metrics are working in favor of the industry, and with the economy
continuing to show signs of improvement, 2013 could prove to be an impressive
year for regional banks. Several banks have seen their quarterly financial
results positively impacted by heightened loan activity as well as rising
deposit levels. This was the case for Huntington Bancshares, as it recently
reported that its full year 2012 net income came in at $641 million, an 18%
increase over the prior year. Register now to have the full technical analysis
on Huntington Bancshares at
Huntington saw its average total loans and leases jumped by 2% to $40.4
billion on the back of a 16% surge in average commercial and industrial loans
to $16.5 billion. It also posted a 13% decline in its provision for loan
losses which was at $39.5 million at the end of the fourth quarter, a clear
indication that its credit metrics was pointing in the right direction.
Furthermore, the regional bank's average total core deposits rose by 7%
year-over-year which signified growth in money market deposits and average
non-interest bearing demand deposits. However, this was in part offset by a
drop in average core certificates of deposit. The company's CEO also stated
that it benefited from strategic investments it made several years ago. All in
all, this bank saw a strong 4 ^th quarter.
Conversely, Fifth Third Bancorp [ Free Technical Research on FITB ] ^(1) also
had an impressive 2012, as it made gains through quality loan production and
fee income growth, among other things. The company saw its full year 2012 net
income soar 22% year-over-year to $1.6 billion. Net charge-offs were also a
plus, as in 2012 the company witnessed a year-over-year decline of 40%. The
bank's recent quarterly released was a good sign that its credit trends were
improving as its solid results for the fourth quarter was mainly a result of
less costs linked to superior fees and bad loans.
Loans for Firth Third came close to $5 billion at the end of the quarter as it
saw residential mortgages, commercial and industrial loans jump at double
digit rate backed by a low interest rate environment and higher demand. The
regional bank also reported a 5% rise in its average core deposits.
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1.Fifth Third Bancorp Technical Analysis [
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