Cheap Stocks to Buy Under $10 – Huntington Bancshares (HBAN)
Huntington Bancshares (HBAN) has seen brisk growth in commercial and consumer lending in the Midwest. Shares are up about 50% in the last year and are currently trading at all-time highs.
But even after this run up, the company has a 2% dividend that is only about 23% of profits, meaning big potential for future dividend growth.
In 2014, many Wall Street analysts are watching bank stocks because of actions at the Federal Reserve. Tighter monetary policy — including the “tapering” of bond buying at the Fed — has the potential to increase interest rates, and thus the potential to increase the margins on bank lending.
Between Fed actions, organic lending growth and the potential for HBAN to be an acquisition target, HBAN could be one of the best cheap stocks to buy in 2014.