KBW Maintains Market Perform on Huntington Bancshares

KBW is out with its report today on Huntington Bancshares HBAN, maintaining Market Perform. In a note to clients, KBW writes, "HBAN reported a 2Q11 operating EPS of $0.16 per share, comparing favorably to both our and consensus estimate. Relative to our estimate, the beat was driven by lower provision and higher fee income, partially offset by a higher-than-expected tax rate. Average loans were up 1% while average earning assets were down 1%. Core PTPP was 1.77% for the quarter." KBW maintains a $7 PT on HBAN. At the time of posting, shares of HBAN were trading at $6.12, up 0.49% from Thursday's close.