go long HBANTCF bank began merging in to Huntington Bank after receiving shareholder approval, ticker HBAN, in March of 2021 with the intention of being completed within the year. This will put it in the top 10 regional banks and will rank 5th in 70% of deposit markets. Regional banks are set to benefit from rising rates and inflation. The cost synergies and the ability to more heavily compete with the larger regional banks should provide it a runway to longterm growth. In the meantime, while these changes take place you will collect a 3.8119% quarterly dividend and have time to accumulate shares.
"Cost synergies are anticipated to be around $490 million, or 37% of TCF Financial's non-interest expenses. Per Huntington’s expectations, the deal is likely to be 18% accretive to earnings by year-end 2022, including the fully phased-in transaction cost synergies." -yahoo finance
It has been in a period of consolidation/trading sideways but I expect it to began to break to new highs as strengths are combined and weak branches are closed. It has underperformed in comparison to the KRE which is a proxy for the overall regional banking sector. This trend should reverse.
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