Shares of Huntington Bancshares Inc. of Columbus, Ohio, took a pounding Monday.

The $54 billion-asset company's stock fell 30%, to $2.02, mainly because of a report that analysts at Fox-Pitt Kelton Cochran Caronia Waller released Friday. The report said that Huntington had a tangible common equity ratio of 3.75% on Dec. 31 — the worst among the companies Fox-Pitt covers. Fox-Pitt said the average such ratio for its coverage universe was 6.36%.

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