2024-02-16 07:30:00 ET
Summary
- Huntington Bancshares Incorporated 6.875% DEP PFD J is attractively priced and has the best coupon and longest Call protection among HBAN preferreds.
- Huntington Bancshares and the HBANL preferred stock are reviewed in this article. Key for HBANL investors; I do not see any non-payment risks.
- Compared to other HBAN preferreds and a competing bank's floating preferred stock, I find HBANL is attractively priced, thus I would give HBANL a Buy rating, though it has Call risk.
Introduction
A year after the US banking system was shaken by bank failures that were compared to the collapse of Lehman Brothers, the GFC that that caused was averted this time, despite the FOMC inflation fight resulting in more rate increases. Last fall, just as "higher for longer " was losing steam, I wrote Huntington Bancshares: Evaluating Its Available Preferred Stocks , which reviewed the three preferred offered by this Ohio-based bank. The timing couldn't have been better as preferreds bottomed about then....
Read the full article on Seeking Alpha
For further details see:
HBANL Preferred Gets Buy Rating As It Turns 1