Huntington Bancshares (NASDAQ:HBAN) "Fair Play" Strategy Not Impressive to Barclays (NYSE:BCS)

The "Fair Play" strategy recently announced by Huntington Bancshares (NASDAQ:HBAN) as done little to impress Barclays (NYSE:BCS), which they doubt will end up in long-term gains in market share.

Barclays says, "HBAN believes its recently-communicated "Fair Play" banking strategy will translate into long-term market share gains. However, we remain somewhat skeptical of its ability to translate foregone revenue into improved retention and wallet-share gains. Despite being impressed by its ability to think through its long-term opportunity set, we remain concerned by its
slower growing footprint (western Ohio & eastern Michigan) and sizeable CRE exposure ($6.9B, 19% of total loans)...We expect HBAN to report 4Q10 EPS of $0.10 versus our prior $0.11 and consensus of $0.08."

Barclays maintains an "Underweight" rating on Huntington Bancshares, which closed Tuesday at $7.12, losing $0.08, or 1.10 percent. Barclays has a price target of $7 on them.