Huntington Bancshares Inc - HBAN STOCK NEWS

On April 20, 2023, Huntington Bancshares (Nasdaq: HBAN) declared a quarterly cash dividend of $0.155 per common share, consistent with the previous quarter. This dividend is payable on July 3, 2023, to shareholders recorded on June 19, 2023. Additionally, the Board announced cash dividends on six series of preferred stock, with payments scheduled for July 17, 2023, to shareholders of record on July 1, 2023. Notable dividends include $19.90 for Series B, $2,035.07 for Series E, $1,406.25 for Series F, $1,112.50 for Series G, $11.25 for Series H, and $24.64 for Series J. Huntington Bancshares is a $189 billion asset regional bank headquartered in Columbus, Ohio, providing a broad range of banking and financial services.

Capstone Partners released its Annual Industrials M&A Report, offering insights into merger and acquisition activity, public market valuations, and economic forecasts for 2023. The report highlights that while EBITDA multiples in the industrial sectors were stable at the start of 2022, challenges emerged in Q1 due to rising interest rates and recession fears. By late summer, valuations saw a significant decline before rebounding by fall 2022. The report indicates overall strong performance in the industrial sector compared to other industries, with the Dow Jones Industrial Average's EBITDA ending at 13.9x EV/EBITDA. Capstone anticipates ongoing M&A demand in the industry with key insights on sectors poised for buyer interest in 2023.

Huntington Bancshares reported a strong performance for the first quarter of 2023, with a net income of $602 million, translating to earnings per share (EPS) of $0.39. This EPS reflects a $0.10 year-over-year increase but a $0.03 quarterly decline. Net interest income decreased by $53 million (4%) from the previous quarter but rose by $263 million (23%) compared to last year. The company maintains a solid balance sheet with $100 billion in insured deposits and high liquidity, including $61 billion in cash and equivalents. Huntington achieved notable customer satisfaction rankings and awards, demonstrating its market reputation. Despite challenges, the company emphasizes disciplined execution and expense management to drive future growth.

Huntington National Bank, a subsidiary of Huntington Bancshares (Nasdaq: HBAN), announced the expansion of its Huntington ChoicePay service into sectors like higher education and business services on April 14, 2023. Originally launched in May 2022, Huntington ChoicePay facilitates electronic payments, offering clients the ability to disburse funds to end-users through pre-paid and closed-loop cards. This digital payment solution addresses the evolving expectations of consumers and businesses seeking efficient transaction methods. The bank emphasizes its commitment to innovation and flexibility in its payment offerings, showcasing leadership in business-to-consumer payments.

Huntington National Bank has appointed Christian Corts as the new director overseeing regional banking teams across its 11-state footprint. Corts, previously the North Texas regional president at Truist Financial, will enhance Huntington's regional banking model to improve customer responsiveness. He brings extensive experience in commercial and corporate banking, aiming to drive growth and financial performance across regions. Huntington, with assets of $183 billion, operates over 1,000 branches and focuses on providing comprehensive banking services to various sectors. Corts will be based in Columbus, Ohio, and officially begins his role in April 2023.

Huntington Bancshares Incorporated has declared a quarterly cash dividend of $356.25 per share on its 5.70% Series I Non-Cumulative Perpetual Preferred Stock (Nasdaq: HBANM). This equates to $0.35625 per depositary share, payable on June 1, 2023, to shareholders of record as of May 15, 2023. The company, headquartered in Columbus, Ohio, boasts $183 billion in assets and operates over 1,000 branches across 11 states, offering a range of banking and financial services.