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 $0.15 per common share, payable on July 1, 2021, for shareholders recorded on June 17, 2021. Additionally, the Board announced dividends for its preferred stocks, including $7.20937324 for Series B and $14.69 for Series C, among others, all payable on July 15, 2021. The company's total assets amount to $126 billion, with an extensive network of 814 branches and 1,314 ATMs across the Midwest.
Huntington Bancshares reported a strong first quarter in 2021, with a net income of $532 million, an increase of $484 million year-over-year. Earnings per share rose to $0.48, and total revenue increased 19% to $1.4 billion. The bank saw significant growth in net interest income, driven by a $144 million mark-to-market benefit from interest rate caps. Average loans increased by $4.6 billion, while nonperforming assets decreased. The company is on track to complete the TCF Financial acquisition in the second quarter.
Huntington Bancshares and TCF Financial Corporation announced that their shareholders approved the merger at special meetings held on March 25, 2021. This merger aims to create a stronger regional bank, enhancing shareholder value and expanding service offerings to communities. The transaction is pending regulatory approval and expected completion in late Q2 2021. Huntington currently holds $123 billion in assets, while TCF has $48 billion, indicating a significant consolidation in the banking sector.
Huntington Bancshares Incorporated (Nasdaq: HBAN) will release its 2021 first quarter earnings on April 22, 2021, before market open. Investors can access financial data in the Investor Relations section of the company’s website. A conference call will take place at 8:30 a.m. ET on the same day, available via live webcast or dial-in at (877) 407-8029 with conference ID 13716636. The company, headquartered in Columbus, Ohio, has $123 billion in assets and operates 839 branches across seven Midwestern states.
Huntington Bancshares (Nasdaq: HBAN) will participate in the 2021 RBC Capital Markets Financial Institutions Conference on March 10, 2021. CFO Zach Wasserman is set to present virtually at 10:40 AM ET, addressing the company's business, financial performance, and strategic initiatives, including forward-looking statements. Investors can access the live audio presentation through Huntington's website, with replays available later. Based in Columbus, Ohio, Huntington has $120 billion in assets and operates 839 branches across the Midwest.
On February 10, 2021, Huntington Bancshares Incorporated (Nasdaq: HBAN) announced key appointments to its Executive Leadership Team following its merger with TCF. Tom Shafer will join as co-President of Commercial Banking, overseeing Middle Market and Commercial Real Estate teams. Mike Jones will serve as Senior Executive Vice President, leading strategic growth in Minnesota and Colorado. Additionally, Donald Dennis was appointed Chief Diversity, Equity & Inclusion Officer, enhancing Huntington's commitment to diversity and education. The merger aims to create a stronger bank, leveraging combined expertise to expand in critical markets.
Huntington Bancshares announced a quarterly cash dividend of $0.15 per common share (Nasdaq: HBAN), payable on April 1, 2021, to shareholders of record on March 18, 2021. Additionally, the company declared dividends on several series of preferred stock, including $7.35312676 for Series B, $14.69 for Series C (Nasdaq: HBANN), $15.625 for Series D (Nasdaq: HBANO), and other series. All preferred dividends are payable on April 15, 2021, to shareholders of record on April 1, 2021.
Huntington Bancshares reported a challenging year in 2020, with net income of $817 million, down 42% from 2019, and EPS declining 46% to $0.69. Despite a 3% increase in total revenue to $4.8 billion, net interest margin fell to 2.99%. The bank saw a significant rise in noninterest income, driven largely by a 119% increase in mortgage banking income. The allowance for credit losses surged by 265% amid the pandemic's economic impact. However, the tangible book value per share increased 3% to $8.51. The company aims for strategic growth in 2021 through investments in technology and the acquisition of TCF Financial.
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