Huntington (HBAN) Up 10.8% YTD: What's Driving The Stock?
Zacks Investment Research | May 27, 2019 03:20AM ET
Of late, the finance sector has been putting up an impressive performance, with some monthly volatility. The United States’ economic health, on which this sector is largely dependent, has been displaying steady improvement with increasing real GDP numbers, declining unemployment rate, improving consumer spending and stabilizing housing market.
Additionally, the economic growth is likely to be robust in the near term, while at the same time trade tensions might jeopardize the uptrend.
Riding on higher rates and improved lending margins, along with lesser regulations under the Trump administration, the finance sector has emerged triumphant. Therefore, the financial stocks have performed decently to register positive gains, year to date.
One such stock is Huntington Bancshares Incorporated (NASDAQ:HBAN) , which has rallied 10.8% year to date, against the the complete list of today’s Zacks #1 Rank stocks here .
Franklin Resources, Inc. (NYSE:BEN) has been witnessing upward estimate revisions, for the past 60 days. Also, the company’s shares have gained nearly 12.2% year to date. At present, it sports a Zacks Rank of 1.
1st Source Corporation (NASDAQ:SRCE) has been witnessing upward estimate revisions for the past 60 days. Additionally, the stock has jumped around 12.7% year to date. It currently carries a Zacks Rank #2.
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