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 has extended the early participation date for its private exchange offers for certain subordinated notes. The new deadline is set for September 3, 2021. Holders of old notes can exchange them for 2.487% Fixed-to-Fixed Rate Subordinated Notes due 2036. As of August 20, 2021, approximately $60 million of new notes are expected to be issued. An early participation amount of $30 will be included in the total consideration for each $1,000 principal amount of old notes. The withdrawal date remains unchanged.
Huntington Bancshares announced the pricing of private exchange offers for its subordinated notes, allowing eligible holders to exchange old notes for new notes. The exchange offers will expire on September 3, 2021, with an early participation date of August 20, 2021. Holders who participate by this date will receive a total exchange consideration of $30 for each $1,000 of old notes. The exchange offers are subject to conditions outlined in a confidential offering memorandum dated August 9, 2021.
Huntington Bancshares has initiated private exchange offers for its subordinated notes, including its 4.350% notes due 2023 and 6.250% notes due 2022, allowing eligible holders to exchange these for new 2.487% subordinated notes due 2036. The total principal amount for the new notes is expected to reach $500 million, with the offering closing on September 3, 2021. Holders who participate by August 20, 2021, may receive an early participation bonus of $30 per $1,000 of old notes. The exchange offers are contingent on specific conditions outlined in the offering memorandum.
Huntington Bancshares has priced a private offering of $500 million in fixed-to-fixed rate subordinated notes due 2036 at 100% of the principal with a 2.487% coupon. Proceeds will support general corporate purposes, including asset growth for subsidiaries. This offering targets qualified institutional buyers under Rule 144A and is subject to market conditions. The notes will not be registered initially under the Securities Act.
Huntington Bancshares announced a private offering of subordinated notes, which will be unsecured and subordinate to existing senior debt. The net proceeds will support general corporate purposes, including asset growth of subsidiaries. Following this offering, Huntington plans to initiate a private exchange offer for certain existing subordinated notes. The offering targets qualified institutional buyers and is not contingent on the exchange offer. The company emphasizes that these notes may not be registered under the Securities Act.
Huntington Bancshares (HBAN) reported a net loss of $15 million for Q2 2021, a decrease of $165 million year-over-year, primarily due to TCF acquisition-related expenses. EPS for the quarter was ($0.05), down $0.18 YoY, but adjusted EPS was $0.35 after accounting for $0.40 in notable items. The TCF acquisition added approximately $50 billion in assets and is on track for integration by Q4 2021. The Board approved an $800 million share repurchase program for the next year. Customer satisfaction rankings from J.D. Power remain strong, highlighting the bank's focus on digital innovation.
Huntington Bancshares Incorporated has announced its Board of Directors declared a $0.15 quarterly cash dividend on common stock (Nasdaq: HBAN), payable on October 1, 2021. The record date for shareholders is September 17, 2021. Additionally, six series of preferred stock dividends were declared, including $7.06532394 for Series B, $14.69 for Series C (Nasdaq: HBANN), $1,425.00 for Series E, $1,406.25 for Series F, $1,112.50 for Series G, and $11.25 for Series H (Nasdaq: HBANP). All preferred dividends are payable on October 15, 2021.
Huntington Bancshares Incorporated (Nasdaq: HBAN) will announce its 2021 second quarter earnings on July 29, 2021, before market opening. A news release with financial data will be accessible on the Investor Relations section of the company’s website. An earnings conference call will take place at 8:30 a.m. ET, featuring a live webcast and dial-in option at (877) 407-8029 using conference ID #13720782. A replay of the call will be available until August 6, 2021.
Huntington, a regional bank holding company with $175 billion in assets, provides a range of financial services across 12 states.
Huntington (Nasdaq: HBAN) has launched Early Pay, allowing customers with qualifying direct deposits to access their paychecks up to two days early without additional fees. This initiative is part of Huntington's Fair Play Banking philosophy and aims to address customer needs. Eligible customers will be automatically enrolled and notified via email. The bank's recent product offerings also include Standby Cash, providing immediate access to $1,000 for eligible customers. Huntington continues to innovate to enhance customer financial well-being.
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