Evercore ISI says the capital actions announced Friday by Huntington Bancshares are a “modest positive” given the net common equity tier 1 capital benefit. This more than offsets the impact of the special assessment, the analyst tells investors in a research note. Additionally, the termination of the swaption program better positions Huntington as the rate backdrop ultimately inflects lower, contends Evercore. The firm keeps an In Line rating on the shares with a $10.50 price target.
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