expects Oak Hill Financial Inc. (Nasdaq: OAKF) to benefit from higher interest rates. The Jackson, Ohio-based financial holding company engages in commercial banking and consumer finance lending through its wholly owned subsidiaries. “Oak Hill’s loan growth has increased in markets like suburban Columbus, Cincinnati, and Dayton,” Cummings says. “They are picking up business in the commercial real estate loans market and they will continue to grow.”
Fred Cummings’Stock Picks
|
Company/ Exchange Symbol |
Price* |
12-to 18-Month Price Target |
P/E on Projected Earnings |
Est. 5-Yr. Annual EPS Growth Rate |
Why Stock Will Outperform |
| Fifth Third Bancorp (Nasdaq: FITB) | $48.59 | $60.00 | 14 | 12% | Company has improved its accounting methods and trimmed expenses. |
| U.S. Bancorp (NYSE: USB) | $29.23 | $32.00 | 12 | 10% | Company has been trading at a discount and is shareholder-friendly. |
| Fulton Financial Corp. (Nasdaq: FULT) | $21.44 | $24.00 | 15 | 10% | Company has strong corporate loan growth and a disciplined acquisition strategy. |
| Oak Hill Financial Inc. (Nasdaq: OAKF) | $35.31 | $40.00 | 13 | 10% | Company’s loan growth and business in commercial real estate have increased. |
| *As of Sept. 21, 2004 | |||||