HBAN, BB&T and PBCT Shares See Trading Action After Earnings

Huntington Bancshares Incorporated (NASDAQ:HBAN) reported its results for the fourth quarter. Net income for Huntington Bancshares Incorporated rose to $126.9 million (14 cents per share) vs. $122.9 million (5 cents per share) in the same quarter a year earlier. This marks a rise of 3.3% from the year earlier quarter. HBAN fell in line with the mean analyst estimate of 14 cents per share.

“We are pleased with the quarter. By staying focused on executing our strategic plan, we are making progress in improving long-term profitability and adding to our earnings growth opportunities,” said Stephen D. Steinour, chairman, president, and chief executive officer. “Net interest income increased as a result of not only strong loan originations but also a higher net interest margin, reflecting our continued focus on fundamentally changing our deposit mix and driving down the overall cost of funds. These successes are a direct result of the strategic investments we have made over the last two years.”

Competitors to Watch: Fifth Third Bancorp (NASDAQ:FITB), FirstMerit Corporation (NASDAQ:FMER), WesBanco, Inc. (NASDAQ:WSBC), Peoples Bancorp Inc. (NASDAQ:PEBO), First Financial Bancorp (NASDAQ:FFBC), Park National Corporation (AMEX:PRK), Wells Fargo & Company (NYSE:WFC), Camco Financial Corp. (NASDAQ:CAFI), Tower Financial Corp. (NASDAQ:TOFC), and PNC Financial Services (NYSE:PNC).

BB&T Corporation (NYSE:BBT) reported net income above Wall Street’s expectations for the fourth quarter. Net income for the bank rose to $391 million (55 cents per share) vs. $208 million (29 cents per share) in the same quarter a year earlier. This marks a rise of 88% from the year earlier quarter. Revenue rose 3% to $2.41 billion from the year-ago quarter. BBT beat the mean analyst estimate of 52 cents per share. It beat the average revenue estimate of $2.19 billion.

“The year 2011 was an outstanding year for BB&T considering the challenges facing the economy and financial services industry,” said Chairman and Chief Executive Officer Kelly S. King. “We met essentially all of our strategic objectives, and are successfully emerging from the credit cycle. We are also very pleased to report a strong performance for the fourth quarter and the full year. Our fourth quarter net income available to common shareholders of $391 million reflects our strongest quarterly earnings since mid 2008. The increase was driven by improved revenues, accelerating loan growth and much improved credit quality. Adjusted revenues totaled $2.3 billion this quarter, up an annualized 12% compared to last quarter.”

Competitors to Watch: JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Company (NYSE:WFC), SunTrust Banks, Inc. (NYSE:STI), PNC Financial Services (NYSE:PNC), Pinnacle Financial Partners (NASDAQ:PNFP), Regions Financial Corp. (NYSE:RF), Bank of America Corp. (NYSE:BAC), First Horizon National Corp. (NYSE:FHN), First Security Group, Inc. (NASDAQ:FSGI), and First Citizens BancShares Inc. (NASDAQ:FCNCA).

People’s United Financial Inc. (NASDAQ:PBCT) reported its results for the fourth quarter. Net income for the savings and loan company rose to $43 million (12 cents per share) vs. $32 million (9 cents per share) in the same quarter a year earlier. This marks a rise of 34.4% from the year earlier quarter. PBCT reported adjusted net income of 17 cents per share. By that measure, the company fell short of mean estimate of 19 cents per share.

“Our performance throughout 2011 reflects the significant progress we have made in carrying out our two primary objectives – optimizing existing businesses and efficiently deploying capital,” stated Jack Barnes, President and Chief Executive Officer. “Our focus on organic loan and deposit growth throughout the franchise, including new market opportunities within the Boston and New York City MSAs, has resulted in improved operating leverage, which is evident in our 2011 financial results.”

Competitors to Watch: Northeast Bancorp/ME (NASDAQ:NBN), Naugatuck Valley Financial Corp. (NASDAQ:NVSL), Berkshire Hills Bancorp, Inc. (NASDAQ:BHLB), Rockville Financial New Inc (RCKBD), New Hampshire Thrift Bancshares, Inc. (NASDAQ:NHTB), Brookline Bancorp, Inc. (NASDAQ:BRKL), NewAlliance Bancshares, Inc. (NYSE:NAL), SI Financial Group, Inc. (NASDAQ:SIFID), Oneida Financial Corp. (NASDAQ:ONFC), and Westfield Financial, Inc. (NASDAQ:WFD).