Huntington Bancshares Incorporated (NASDAQ:HBAN) is one of the stocks on Jim Cramer’s radar. Cramer discussed the firm’s acquisition of Veritex during the episode. He commented:
“This morning, we had a real bank merger, one of my favorites, Huntington Bancshares, the Ohio-based regional bank, announced that it’s buying the Texas-based regional bank Veritex in an all-stock deal that values the target just under $2 billion. Now, in the grand scheme of things, and this is a small transaction, I didn’t even know Veritex, but it helps Huntington grow in Texas, a market where it was already expanding aggressively.
Plus, the company also pre-announced most of the key lines of its second quarter earnings report… Look, numbers look pretty darn good. When you back out some one-time items, Huntington posted solid earnings with better-than-expected net interest income and fine-looking credit quality metrics.”
A professional banker with a stack of mortgage papers and a pen in hand, ready to make the deal.
Huntington Bancshares provides a broad range of commercial, consumer, and mortgage banking services, along with wealth management, lending, and digital financial solutions.
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This article is originally published at Insider Monkey.
