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.
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.
Huntington Bancshares (Nasdaq: HBAN) has supported 5,675 small businesses by providing nearly $1 billion in the last year, maintaining its position as the largest SBA 7(a) loan originator in the U.S. for five consecutive years. The bank offers various loan services to aid small businesses, including the Lift Local Business program, which has funded over 500 minority, woman, and veteran-owned businesses. Huntington is committed to equitable capital access and has a $40 billion Community Plan aimed at tackling economic inequities.
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). This dividend is payable on December 1, 2022, to shareholders recorded by November 15, 2022. As a regional bank with $179 billion in assets, Huntington provides various financial services via over 1,000 branches across 11 states.
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