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 has announced an increase in its prime rate from 3.5 percent to 4 percent, effective May 5, 2022. This adjustment follows a previous increase on March 17, 2022, where the rate was raised from 3.25 percent to 3.5 percent. With total assets of $177 billion, Huntington is a leading regional bank providing diverse financial services across 11 states from over 1,000 branches. The company remains committed to serving consumers and businesses through comprehensive banking and financial solutions.
Huntington Bancshares Incorporated (Nasdaq: HBAN) declared a quarterly cash dividend of $0.155 per common share, consistent with the previous quarter. This dividend is payable on July 1, 2022, to shareholders of record on June 17, 2022. Additionally, the Board announced cash dividends for five series of preferred stock, with amounts ranging from $9.36 to $1,425.00 per share, payable July 15, 2022, to respective record shareholders on July 1, 2022. Huntington, a $177 billion asset bank, provides various financial services across 11 states.
Huntington Bancshares (Nasdaq: HBAN) reported Q1 2022 net income of $460 million, or $0.29 per share, reflecting a $72 million decline from Q1 2021. Adjusted EPS was $0.32. Key highlights include a 1% increase in net interest income ($14 million), a 14% reduction in noninterest expenses ($168 million), and a 2% rise in average total loans and leases ($1.7 billion). The bank also announced an acquisition agreement for Capstone Partners, expected to close in Q2. Performance metrics show a return on average assets at 1.05% and return on average common equity at 10.4%. Overall, the outlook remains optimistic for continued growth.
Huntington Bancshares announced 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 June 1, 2022, to shareholders of record on May 15, 2022. The company, headquartered in Columbus, Ohio, manages $174 billion in assets and operates over 1,000 branches in 11 states, offering a wide range of banking and financial services.
Huntington Bancshares Incorporated (Nasdaq: HBAN) will report its 2022 first quarter earnings on April 21, 2022, before the market opens. The earnings announcement will be accompanied by supporting financial data available on the company's Investor Relations website. Following the release, management will host an earnings conference call at 9:00 a.m. ET, allowing investors to participate via a live webcast or a dial-in number. A recording will be accessible for two weeks after the call.
Huntington Bancshares Incorporated (Nasdaq: HBAN) has announced an increase in its prime rate from 3.25% to 3.50%, effective March 17, 2022. This marks the first adjustment since March 16, 2020, when the rate was reduced. The regional bank, headquartered in Columbus, Ohio, manages assets worth $174 billion and offers a wide array of financial services across more than 1,000 branches in 11 states. The increase in the prime rate could affect loan interest rates for consumers and businesses, potentially influencing borrowing costs and lending activity.
Huntington Bancshares, Inc. (Nasdaq: HBAN) announced that Brant J. Standridge will join as President of Consumer & Business Banking starting in early April 2022. Standridge previously served at Truist Financial as Chief Retail Community Banking Officer, overseeing a national branch network. His expertise includes driving customer satisfaction and digital adoption. He aims to enhance Huntington's growth while focusing on consumer and business banking strategies. Standridge holds a bachelor's degree from the University of Georgia and is completing his MBA at Emory University.
Huntington Bancshares has launched a new Cashback Credit Card designed to provide customers with greater flexibility and simplified rewards. Cardholders can earn 1.5% unlimited cash back on all purchases, with easy redemption options including automatic monthly statement credits. The card features
- No annual or foreign transaction fees
- No minimum redemption requirement
- Rewards that do not expire
- Mastercard World Elite benefits
- Huntington Late Fee Grace
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