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 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
On March 4, 2022, Huntington National Bank, a subsidiary of Huntington Bancshares (Nasdaq: HBAN), announced its membership with the Partnership for Carbon Accounting Financials (PCAF). This move emphasizes the bank's commitment to Environmental, Social, and Governance (ESG) initiatives, particularly in climate and sustainability efforts. Huntington has successfully reduced Scope 1 and Scope 2 greenhouse gas emissions by 35% since 2017 and aims to source 50% of its electricity from renewable sources by 2035. The bank also pledged $40 billion towards its Strategic Community Plan, which addresses environmental and racial equity challenges.
Huntington Bancshares Incorporated (Nasdaq: HBAN) will present at the 2022 RBC Capital Markets Global Financial Institutions Conference on March 9, 2022, at 11:20 AM (Eastern Time). Zach Wasserman, CFO, and Scott Kleinman, co-president of commercial banking, will discuss the company's business performance and strategies via a live webcast accessible on their investor relations website. The bank, with $174 billion in assets, operates over 1,000 branches in 12 states, providing a full range of financial services.
Huntington Bancshares (Nasdaq: HBAN) announced a definitive agreement to acquire Capstone Partners, a leading investment banking and advisory firm for middle market companies. The acquisition aims to enhance Huntington's Capital Markets strategic plan, allowing it to better serve middle market clients and expand its national footprint. Capstone, ranked among top U.S. advisors for middle market M&A, will strengthen Huntington's advisory services. The transaction is expected to close in Q2 2022, pending regulatory approvals. Financial terms were not disclosed.
Huntington Bancshares declared a quarterly cash dividend of $0.155 per common share, maintaining the same rate as the previous quarter. This dividend is to be paid on April 1, 2022, to shareholders on record as of March 18, 2022. Additionally, the Board announced quarterly cash dividends on five series of preferred stock, with payment scheduled for April 15, 2022. The preferred dividends range from $7.3479 to $1,425.00 per share. Huntington, based in Columbus, Ohio, manages assets totaling $174 billion.
Huntington Bancshares reported its Q4 2021 earnings, achieving $401 million in net income, a 59% increase year-over-year. EPS decreased to $0.26, down $0.01 from Q4 2020. Adjusted EPS was $0.36 after accounting for notable items. Total revenue rose 24% to $6 billion for 2021, driven by the TCF acquisition. Total loans increased 1% to $111.9 billion. The company repurchased $150 million in common stock and increased its dividend by 3.3%. CEO Steve Steinour expressed confidence in continued growth through 2022.
Huntington Bancshares Incorporated (Nasdaq: HBAN) is set to report its 2021 fourth quarter earnings on January 21, 2022, before market opening. This announcement follows the bank's ongoing commitment to transparency. Investors can access the earnings news release and financial data on the Investor Relations section of the company's website. Additionally, management will host an earnings conference call at 8:30 a.m. ET that day, available via a live Internet webcast and telephone dial-in. The bank, with assets of $174 billion, operates over 1,100 branches across 12 states.
FAQ
What is the current stock price of Huntington Bancshares (HBAN)?
What is the market cap of Huntington Bancshares (HBAN)?
What services does Huntington Bancshares Inc. offer?
Where is Huntington Bancshares Inc. headquartered?
How many branches and ATMs does Huntington operate?
What was Huntington's net income for the fourth quarter of 2023?
How did Huntington perform in the first quarter of 2024?
What are Huntington's primary business segments?
How long has Huntington Bancshares Inc. been in business?
What strategic initiatives did Huntington undertake in 2023?
Where can I find Huntington Bancshares' financial results?
How does Huntington manage its credit quality?
