NASDAQ:HBAN   Huntington Bancshares Incorporated
TCF 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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