Aggressive Portfolios: Huntington Bancshares

Aggressive Portfolios: Huntington Bancshares

$HBAN

Huntington Bancshares is a call for aggressive portfolios as it just turned Bullish after having been hammered during the chaos selloff in March.

Huntington Bancshares Inc. (NASDAQ:HBAN) operates as a holding company for the Huntington National Bank, which provides commercial, small business, consumer and mortgage banking services.

Recently it announced it is contributing $150,000 through The Huntington Foundation to community organizations in the Great Lakes Bay Region to help provide residents with critical basic needs for food and shelter during this C-19 coronavirus emergency.

Our Purpose has always been to look out for people – our neighbors, friends, businesses and local communities. We empathize with the Great Lakes Bay Region, which has experienced tremendous devastation due to the historic flooding this week,” said Greg Viener, President of Huntington’s Mid-Michigan region.

“Our Purpose guides us to serve those affected by this terrible, unexpected tragedy and to help provide some relief to our customers who are suffering in our local communities,” said Seth Perigo, Huntington’s community president for the Great Lakes Bay Region.

Customers in need of financial assistance may visit Huntington branches with drive-thrus across the Great Lakes Bay Region, and they also may contact Huntington at 1-800-480-BANK (2265) to speak with a customer service representative about products or programs that are available. Our Customer Solutions Center is open this weekend and ready to assist customers.

Huntington is offering the following relief measures specifically for Great Lakes Bay Region consumers and businesses affected by the flooding, effective immediately:

  • Disaster Relief Loan Program: Huntington has created a temporary Disaster Relief Loan Program to assist borrowers seeking funds for home repairs. The disaster relief loan program offers a discounted rate to help customers who may need money for immediate expenses. The program will be in place starting Tuesday, May 26, for the next 30 days but may be extended as the situation evolves. Please contact your local branch for availability in your area.
  • Consumer and Small Business Payment Deferral Programs: Huntington is offering 90 days of payment deferrals.
  • Business Loans and Lines of Credit through the Small Business Administration (SBA): Huntington can help secure lines of credit up to $25,000, guaranteed by the SBA, with no bank or SBA fees and with low fixed rates, as well as SBA Special Product for Disaster Support term loans with no bank fee and ability to finance the SBA fee.
  • Suspension of Late Fees on Consumer and Business Loans: Our Customer Assistance teams are prepared to help any borrower impacted by the flooding in Michigan by waiving any incurred late fees and providing payment relief.
  • Payment Assistance for Personal Credit Lines and Credit Cards:
  • Suspension of Foreclosure Program: Huntington is suspending foreclosure actions for resident properties through June.
  • Repossession Halt Program: Huntington is suspending repossession actions for resident vehicles, RVs or marine crafts through June.

Additionally, Huntington has established programs in place to help consumers navigate financial uncertainty:

  • Homeowner Payment Help: Huntington can help customers needing assistance in making mortgage loan payments. Those needing assistance can visit a branch by appointment only or go to: https://www.huntington.com/Personal/mortgage-education-tools/payment-help
  • Auto Loan Payment Assistance: Huntington can help customers having difficulty making auto loan payments. Customers may contact the Installment Loan Customer Service Department at (800) 445-8460, from 8 a.m. to 6 p.m. ET Monday through Friday.

Huntington accounts are always accessible 24/7 using ATMs, huntington.com, online chat feature, by phone or the Huntington Mobile app.

Huntington’s Retail and Business Banking segment offers financial products and services, including checking accounts, savings accounts, money market accounts, certificates of deposit, consumer loans and small business loans, as well as investments, insurance, interest rate risk protection and foreign exchange and treasury management services.

HBAN’s Commercial Banking segment provides corporate risk management and institutional sales, trading, and underwriting services; commercial property and casualty, employee benefits, personal lines, life and disability, and specialty lines of insurance; and brokerage and agency services for residential and commercial title insurance, as well as excess and surplus product lines of insurance.

Plus, Huntington offers automotive and commercial real estate financing, and a regional private bank and private client business.

Shareholders receive a 7.34% dividend. Our 15.35 target price compares to the 9.44 consensus. Huntington Bancshares stock finished Tuesday at 8.99/share. There is Strong Support at 8.52, and the Key Resistance is at 14.24.

Have a healthy day, Keep the Faith!

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Paul Ebeling

Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge. Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he it the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.