Huntington’s Retail and Business Banking segment offers financial products and services, including checking accounts, savings accounts, money market accounts, certificates of deposit, consumer loans and small business loans, as well as investments, insurance, interest rate risk protection and foreign exchange and treasury management services.
The company’s Commercial Banking segment provides corporate risk management and institutional sales, trading, and underwriting services; commercial property and casualty, employee benefits, personal lines, life and disability, and specialty lines of insurance; and brokerage and agency services for residential and commercial title insurance, as well as excess and surplus product lines of insurance.
Huntington also offers automotive and commercial real estate financing, and a regional private bank and private client business.
Shareholders pocket a nice 7.34% dividend, which appears safe for now. The $10 BofA Securities target price compares to the $9.44 consensus figure. Huntington Bancshares stock ended Thursday at $8.17 per share.
This is an excellent play for aggressive investors looking for energy exposure. Parsley Energy Inc. (NYSE: PE) is an oil and gas producer with 227,000 net acres in the Permian Basin. The majority of acreage sits on the Midland side of the basin, but the company also holds a small acreage position in the Delaware Basin. Through strategic acquisitions and acreage swaps, it has grown its acreage position since its initial public offering and has over 7,900 horizontal locations across multiple prospective zones.
The company is catalyst rich and a Permian Basin pure play. Parsley Energy has some of the strongest wells in the basin, generating returns that are among the best in the industry. It is also rapidly de-risking its drilling inventory and is well positioned to continue to beat its strong growth projections.
BofA Securities has set a $12 price target on the shares. The consensus target is $12.30, and Parsley Energy stock closed most recently at $9.31.
This stock has been on a roll this year and looks poised to go higher. Sirius XM Holdings Inc. (NASDAQ: SIRI) is the world’s largest radio company measured by revenue, and it has approximately 33.1 million subscribers. The company creates and offers commercial-free music; premier sports talk and live events; comedy; news; exclusive talk and entertainment; and a wide-range of Latin music, sports and talk programming. Sirius XM is available in vehicles from every major car company and on smartphones and other connected devices as well as online.
Sirius XM is also a leading provider of connected vehicles services, giving customers access to a suite of safety, security and convenience services, including automatic crash notification, stolen vehicle recovery assistance, enhanced roadside assistance and turn-by-turn navigation.
The $7 BofA Securities price target may be going higher soon. The posted consensus price target is $6.39, and Sirius XM stock closed trading at $5.19 on Thursday.
These five companies that are very well known to most investors have all been sent to the single-digit midget penalty box. While some of these companies may have a difficult road back to prosperity, given what we have seen in the past, and the massive liquidity being provided by Washington, D.C., the odds are good that each survives this downturn.
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