We've written about HBAN, Huntington Bank, before. It's a midwest regional bank, like many other banks, has had its troubles.
The stock changes hands around $7.50. An insider recently bought 100,000 shares at a cost of just over $700,000. One insider buying is not significant. In this case, however, it's at least a sign.
Most of its branches are in middle America, an area hard hit by the manufacturing decline. And that's part of the story we like, the dull, prosaic Midwest where oil and gas discoveries are helping to fuel the economy. You can do your own research on the region and decide accordingly.
One well-known market strategist when asked recently for her favorite emerging market replied, the Midwest. Full disclosure: We own the stock and continue to accumulate it. Without putting a number on it, if economic recovery becomes what many MSM cheerleaders hope, the shares have good upside potential.
It pays a small dividend, trades at about 10x earnings and short interest, now about 10 million shares, is down 11% since mid-April, some of it no doubt due to the market rally
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rle
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