Five Star Equities Provides Stock Research on Huntington Bancshares and SunTrust Banks
NEW YORK, NY, May 29, 2012 (MARKETWIRE via COMTEX) --
The U.S. Banking Industry has continued to show signs of recovery
coming out of the recent recession. The industry saw just 16
FDIC-insured banks fail in the first quarter of the year, the lowest
total since the end of 2008, according to the FDIC's quarterly
banking profile. Also the number of banks at risk of failure fell to
772, the lowest total since the end of 2009, from 813 in the previous
quarter. Five Star Equities examines the outlook for companies in the
Banking Industry and provides equity research on Huntington
and SunTrust Banks, Inc.
Access to the full company reports can be found at:
Last Thursday, the FDIC stated that the U.S. Banking Industry posted
a first quarter profit of $35.3 billion, their best since 2007.
FDIC-insured banks first quarter profits grew 23 percent ($6.6
billion) from the year prior, marking the 11th consecutive quarter
profits have shown a year-over-year increase according to the FDIC.
"The condition of the industry continues to gradually improve," said
Martin J. Gruenberg, the FDIC's acting chairman. "Insured
institutions have made steady progress in shedding bad loans,
bolstering net worth and increasing profitability."
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Industry so investors can stay ahead of the crowd and make the best
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Huntington Bancshares Incorporated is a $56 billion regional bank
holding company headquartered in Columbus, Ohio. Huntington's has a
six-state banking franchise covering: Ohio, Michigan, Pennsylvania,
Indiana, West Virginia, and Kentucky. Huntington last month reported
2012 first quarter net income of $153.3 million, up $26.4 million, or
21%, from $126.9 million in the prior quarter.
SunTrust Banks is one of the nation's largest banking organizations,
serving a broad range of consumer, commercial, corporate and
institutional clients. The Company operates an extensive branch and
ATM network throughout the Southeast and Mid-Atlantic States.
SunTrust last month reported total revenue was $2.2 billion for the
first quarter of 2012, an increase of $171 million from the prior
quarter and $58 million higher than the first quarter of 2011.
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SOURCE: Five Star Equities
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