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 Incorporated (Nasdaq: HBAN) has increased its prime rate from 7 percent to 7.5 percent, effective December 15, 2022. This rate change follows the previous adjustment on November 3, 2022, when the rate was raised from 6.25 percent to 7 percent. Huntington, a regional bank holding company with assets of $179 billion, provides a range of banking and financial services across more than 1,000 branches in 11 states. The adjustment in the prime rate is a significant indicator of the bank's response to economic conditions.
Huntington National Bank has partnered with Magnusmode to create digital guides aimed at making banking more accessible for autistic and neurodiverse individuals. The guides, available for free through the MagnusCards app, utilize visual and audio instructions to assist users in performing standard banking tasks. Huntington's commitment to inclusivity is further emphasized through its Autism2Work program, aimed at providing employment opportunities for neurodivergent individuals. The initiative aligns with Huntington's goal to be a people-first, digitally powered bank.
Huntington Bancshares Incorporated declared a quarterly cash dividend of $356.25 per share on its 5.70% Series I Non-Cumulative Perpetual Preferred Stock (Nasdaq: HBANM). The dividend is payable on March 1, 2023, to shareholders of record on February 15, 2023. Huntington, a regional bank holding company with $179 billion in assets, operates over 1,000 branches across 11 states, providing various banking and financial services.
Huntington Bancshares (Nasdaq: HBAN) will participate in the Goldman Sachs 2022 US Financial Services Conference on December 7, 2022. CEO Steve Steinour and CFO Zach Wasserman will present at 9:20 AM (ET), discussing the bank's business strategies and financial performance. Investors can access a live audio webcast on Huntington's investor relations website, with a replay available afterward. Huntington, headquartered in Columbus, Ohio, is a regional bank holding company with $179 billion in assets and over 1,000 branches across 11 states.
Capstone Partners has achieved its third 'Investment Bank of the Year' award for 2022, recognized as the 'Middle Market Investment Banking Firm of the Year' at The M&A Advisor's 21st Annual M&A Awards held on November 15, 2022. This follows earlier accolades from M&A Today and Global M&A Network. The firm is undergoing a growth strategy in partnership with Huntington Bancshares (HBAN), enhancing its capabilities in current markets while pursuing further expansion. Capstone aims to strengthen its position as a full-service corporate and investment bank.
Huntington Bancshares (Nasdaq: HBAN) has launched Advisor Connect, a new digital platform developed in collaboration with InvestCloud. This service simplifies the process for customers to connect with financial advisors tailored to their specific needs. Users answer a few questions to receive a personalized list of advisors, enhancing the customer experience. This initiative aligns with Huntington’s goal to be a people-first, digitally powered bank, integrating seamlessly into their existing online banking system.
Huntington Bancshares Incorporated (Nasdaq: HBAN) has raised its prime rate from 6.25 percent to 7 percent, effective November 3, 2022. This change follows a prior increase on September 22, 2022, when the rate was adjusted from 5.5 percent to 6.25 percent. Huntington is a $179 billion asset regional bank based in Columbus, Ohio, providing a variety of banking and financial services across 11 states.
Huntington National Bank (Nasdaq: HBAN) announced its partnership with LiquidX to enhance its trade finance infrastructure. This collaboration aims to automate back-office processes, streamline supply chain finance operations, and improve payment reconciliation. Key features of the LiquidX solution include centralized data management, advanced business intelligence tools, and AI-driven reconciliation. The agreement allows Huntington to scale its business efficiently and focus on strategic initiatives. This partnership underscores Huntington's commitment to providing improved services to its trade finance customers.
Huntington Bancshares Incorporated declared a $0.155 quarterly cash dividend on common stock (Nasdaq: HBAN), payable on January 3, 2023, to shareholders of record as of December 19, 2022. Additionally, the board announced cash dividends for five series of preferred stock, with amounts ranging from $11.25 to $1,425.00 per share, payable on January 17, 2023. Huntington, an asset regional bank holding company with $179 billion in assets, operates over 1,000 branches across 11 states.
Huntington Bancshares Incorporated reported a record net income of $594 million, or $0.39 per share for Q3 2022, marking a $217 million increase year-over-year. Total revenue rose 9% sequentially, with net interest income up $143 million, reflecting an expanded net interest margin of 3.42%. Average total loans and leases increased by $3.0 billion. The company also achieved a record Common Equity Tier 1 ratio of 9.27%. These results depict robust growth and a strong balance sheet, positioning HBAN for long-term performance.
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