Welcome to our dedicated page for Huntington Bancshares news (Ticker: HBAN), a resource for investors and traders seeking the latest updates and insights on Huntington Bancshares stock.
Huntington Bancshares Inc. (symbol: HBAN) is a prominent regional bank holding company headquartered in Columbus, Ohio. Founded in 1866, Huntington operates through a robust network of over 750 branches and more than 1,500 ATMs across six midwestern states. With assets exceeding $189 billion, Huntington provides a wide array of financial services to consumers, small businesses, and corporations.
The company's primary business segments include Consumer & Regional Banking and Commercial Banking. The Consumer & Business Banking segment is the primary revenue driver, while the Commercial Banking segment offers specialized services such as auto dealer financing, equipment finance, national settlement, and capital market services.
Huntington's product offerings are comprehensive, covering consumer banking, small business solutions, commercial banking, treasury management, wealth management, brokerage, trust, and insurance services. The company's affiliations extend beyond its core states, providing national settlement and capital market services.
2023 was a notable year for Huntington, marked by strategic initiatives and a dynamic banking environment. The company achieved sustained deposit growth, enhanced capabilities across payments and other fee-based services, and completed a business segment re-alignment to improve customer focus and operational efficiency. Furthermore, Huntington expanded its commercial and regional banking into the Carolinas, bolstering its specialty banking expertise by adding new teams.
In the fourth quarter of 2023, Huntington reported a net income of $243 million, reflecting the company's disciplined approach to managing credit quality and moderate-to-low risk appetite. Despite a decrease from the previous year, the company maintained robust liquidity and capital, positioning it for continued growth. Huntington's strategic focus remains on organic growth, expanding deposit and loan balances, and leveraging its strong brand and customer trust metrics.
As of the first quarter of 2024, Huntington reported a net income of $419 million, highlighting sustained organic growth and robust pipelines in new and existing markets. The company's credit quality remained stable, and the economic outlook was constructive, supporting the performance of its customers.
Huntington Bancshares' financial results and strategic initiatives underscore its commitment to growth, profitability, and customer service. The company's earnings releases and financial supplements provide detailed performance metrics and are available on its Investor Relations website.
For more information, visit Huntington.com.
Huntington Bancshares (Nasdaq: HBAN) announced a reduction in its prime rate from 8% to 7.75%, effective November 8, 2024. This marks the second recent decrease in the bank's prime rate, following a previous reduction from 8.5% to 8% on September 19, 2024.
Huntington Bancshares (Nasdaq: HBAN) has announced its participation in the 2024 BancAnalysts Association of Boston Conference on November 7, 2024. Chief Financial Officer Zach Wasserman will deliver a presentation at 2:15 PM Eastern Time, focusing on business trends, financial performance, and strategic initiatives.
Huntington Bancshares Incorporated has announced its quarterly cash dividends for common and preferred stocks. The Board of Directors declared a $0.155 per share dividend on common stock (Nasdaq: HBAN), payable on January 2, 2025, to shareholders of record on December 18, 2024. This amount remains unchanged from the previous quarter.
Additionally, the company declared dividends on five series of preferred stocks, all payable on January 15, 2025, to shareholders of record on January 1, 2025:
- Floating Rate Series B: $19.02227465 per share
- 5.625% Series F: $1,406.25 per share
- 4.450% Series G: $1,112.50 per share
- 4.5% Series H: $11.25 per share
- 6.875% Series J: $17.19 per share
Huntington Bancshares Incorporated (HBAN) reported Q3 2024 earnings with EPS of $0.33, up $0.03 from the previous quarter but down $0.02 year-over-year. Key highlights include:
- Net interest income increased 3% quarter-over-quarter but decreased 1% year-over-year
- Noninterest income rose 7% quarter-over-quarter and 3% year-over-year
- Average total loans and leases grew 1% quarter-over-quarter and 3% year-over-year
- Average total deposits increased 2% quarter-over-quarter and 6% year-over-year
- Net charge-offs were 0.30% of average total loans and leases
- Common Equity Tier 1 (CET1) risk-based capital ratio remained stable at 10.4%
- Tangible book value per share increased 10% quarter-over-quarter and 21% year-over-year
CEO Steve Steinour highlighted sequential revenue and profit expansion, accelerated loan growth, and strong performance in value-added fee businesses.
Huntington Bancshares Incorporated (Nasdaq: HBAN) has announced details for its third quarter 2024 earnings call and updated its schedule for 2025 earnings release dates. The company will release Q3 2024 financial results on Thursday, October 17, 2024, before the market opens. A news release and financial data will be available on the company's Investor Relations website.
The earnings conference call is scheduled for 9 a.m. ET on the same day. Investors can access the call via webcast or by dialing (877) 407-8029 or (201) 689-8029 with conference ID #13749221. A replay will be available until October 25, 2024.
Huntington also provided updated 2025 earnings release dates for all quarters, with calls scheduled for 9 a.m. ET on January 17, April 18, July 18, and October 17, 2025.
Capstone Partners, a leading middle market investment banking firm, reports growing interest in construction safety management services within M&A markets. The firm recently advised Safe T Professionals, a construction-focused safety management consulting firm, on an investment from a strategic partner. This marks Capstone's second transaction in the safety sub-sector within the past 12 months.
Capstone's Environmental Health & Safety Market Update highlights increasing outsourcing of safety management services due to evolving and complex regulations. The report projects continued growth in buyer investment appetite through 2025 and beyond. Safe T Professionals, founded in 2011 and based in Chandler, AZ, specializes in safety consulting and manager outsourcing, with a focus on the semiconductor and EV industries.
Huntington Bancshares Incorporated (Nasdaq: HBAN) has announced a decrease in its prime rate from 8.5% to 8%, effective September 19, 2024. This marks the first change in Huntington's prime rate since July 27, 2023, when it was increased from 8.25% to 8.5%. The reduction in the prime rate could potentially impact various financial products and services offered by the bank, including loans and credit lines.
Huntington Bancshares Incorporated (Nasdaq: HBAN) has declared a quarterly cash dividend on its 5.70% Series I Non-Cumulative Perpetual Preferred Stock (Nasdaq: HBANM). The dividend is set at $356.25 per share, which is equivalent to $0.35625 per depositary share. This dividend will be payable on December 2, 2024, to shareholders of record as of November 15, 2024. The announcement demonstrates Huntington's commitment to providing returns to its preferred stockholders and maintaining its dividend policy.
Huntington Bank has appointed Timothy Miller as its new Executive Vice President and Chief Communications Officer (CCO). Miller, who will be based in Charlotte, NC, joins Huntington's executive leadership team and will lead the bank's corporate communications organization. His responsibilities include overseeing all internal and external communications, such as media relations, crisis communications, and executive communications.
Miller brings extensive experience from his previous role as Senior Vice President of External Communications at PNC Bank. He has also held communications leadership positions at Bank of America, Brighthouse Financial, and 3D Systems. Steve Steinour, Huntington's Chairman, President, and CEO, praised Miller's expertise in helping organizations navigate periods of growth and transformation.
The Cleveland Browns and Huntington National Bank have announced a 20-year partnership, including stadium naming rights. The Browns' stadium will now be called "Huntington Bank Field". Huntington Bank will also become the team's official and exclusive banking partner. This partnership aims to strengthen both organizations' commitment to the Cleveland community and broader region.
The first game at Huntington Bank Field will be played on September 8, featuring the Cleveland Browns vs. the Dallas Cowboys. This partnership is expected to spur significant economic growth and development in Northeast Ohio. Both organizations plan to launch new initiatives to strengthen communities across the region.
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