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 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, 2022, to shareholders of record as of February 15, 2022. This announcement reflects the company's ongoing commitment to returning value to its shareholders. Huntington Bancshares, a $174 billion asset regional bank, operates over 1,100 branches across 12 states, offering a diverse range of banking and financial services.
Huntington Bancshares (Nasdaq: HBAN) will participate in the Goldman Sachs 2021 US Financial Services Conference on December 8, 2021. The presentation, led by CEO Steve Steinour and CFO Zach Wasserman, is scheduled for 3:40 PM ET and will address business performance and strategic initiatives, including forward-looking statements.
Investors can access the live audio presentation on Huntington's website, with a replay available afterward. Huntington Bancshares is a regional bank holding company with $174 billion in assets and over 1,100 branches across 12 states.
Huntington National Bank (Nasdaq: HBAN) urges consumers to support local businesses this holiday season, emphasizing their critical role in economic development. A 2021 SBA report highlights that small businesses make up 99% of U.S. businesses, employing nearly 47% of the workforce. Huntington is committed to assisting small businesses, especially minority-, women-, and veteran-owned, through its Lift Local Business program, which secured $22 million in loans in its first year. The bank also prioritizes cybersecurity resources for small businesses as they face increasing digital threats.
Huntington Bancshares will present at the 2021 Bank of America Securities Banking and Financials Conference on November 10, 2021, at 11:20 AM ET. Chief Financial Officer Zach Wasserman will address analysts and investors about the company's business, financial performance, and strategic initiatives. The presentation will include forward-looking statements. Interested parties can access the live audio presentation on Huntington's investor relations website, with an archived replay available afterwards.
On November 4, 2021, Black Knight (NYSE:BKI) announced that Huntington National Bank renewed its contract for the MSP loan servicing system. The renewal signifies a strong partnership as Huntington seeks growth in its consumer real estate loan portfolio. Black Knight will also provide additional solutions, including Servicing Digital, enhancing customer engagement and streamlining mortgage processes. The deal includes data analytics tools like McDash reports for better portfolio management.
Huntington Bancshares (HBAN) reported its Q3 2021 earnings with a net income of $377 million, reflecting a $74 million increase year-over-year. Earnings per share (EPS) were $0.22, down $0.05 year-over-year, but adjusted EPS reached $0.35 after excluding $0.13 in acquisition-related costs. Total revenue soared 32% to a record $1.7 billion, driven by the TCF acquisition. The company repurchased $500 million of common stock and increased its dividend to $0.155 per share. Key metrics include a tangible book value of $8.10 and a 0.86% return on average assets.
Huntington Bancshares announced a quarterly cash dividend of $0.155 per common share, reflecting a 3% increase from the previous quarter. The dividend, payable on January 3, 2022, benefits shareholders on record by December 17, 2021. Additionally, quarterly dividends were declared for five series of preferred stock, with the highest being $1,425.00 per share for Series E. These dividends are payable on January 18, 2022. The increase in dividend supports the capital allocation strategy and showcases confidence in future growth.
Huntington National Bank (NASDAQ: HBAN) has been recognized as the largest originator of Small Business Administration (SBA) 7(a) loans in the United States for the fourth consecutive year, demonstrating its strong commitment to small businesses. For fiscal year 2021, Huntington facilitated 47,000 Paycheck Protection Program loans and supported a substantial number of businesses across its footprint states, with Ohio leading at 1,998 loans totaling $366 million. The bank is also expanding its presence in Minnesota and Colorado and has pledged $40 billion toward community investments, reinforcing its dedication to financial inclusion.
Huntington Bancshares (Nasdaq: HBAN) will report its Q3 2021 earnings on October 28, 2021, prior to market opening, alongside a news release and financial data. A conference call will occur on the same day at 10:00 a.m. ET, accessible via webcast and phone at (877) 407-8029 with conference ID 13723641. Huntington, headquartered in Columbus, Ohio, manages assets totaling $175 billion and operates over 1,200 branches across 12 states, offering comprehensive banking services.
Huntington Bancshares has 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, which equates to $0.35625 per depositary share, will be payable on December 1, 2021 to shareholders who are on record as of November 15, 2021.
This reflects the company's ongoing commitment to provide returns to its shareholders amidst its operations as a significant regional bank with assets totaling $175 billion.
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