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) plans to report its 2020 fourth quarter earnings on January 22, 2021, before market opening. Financial data will be available in the Investor Relations section of their website. Management will host an earnings conference call at 8:30 a.m. ET on the same day, accessible via live webcast or telephone. A replay will be available after the call. Huntington, headquartered in Columbus, Ohio, boasts $120 billion in assets and a network of 839 branches across seven Midwestern states.
Huntington launched its Support Local video series on Dec. 1, 2020, to highlight the resilience of small businesses during the pandemic. This campaign showcases real-life stories of business owners adapting to challenges. Huntington, the No. 1 SBA 7(a) lender, has implemented programs such as suspended late fees and processed thousands of PPP loan applications to aid small businesses. The initiative reflects Huntington's commitment to economic inclusion, backed by a $20 billion Community Plan to support local economies.
Huntington (Nasdaq: HBAN) announced a significant upgrade to its ATM network, replacing 400 machines by year-end with state-of-the-art Hyosung MoniPlus2S software. This upgrade enhances transaction speed and security, allowing customers to withdraw bills in various denominations. As of Q3 2020, Huntington operates 1,330 ATMs across seven Midwest states. The initiative, aimed at improving customer experience, also prepares for future enhancements, including tap-and-go authentication. This installation marks Hyosung America’s largest U.S. rollout of MoniPlus software across multiple ATM vendors.
Huntington Bancshares Incorporated (Nasdaq: HBAN) will participate in the Nasdaq 43rd Virtual Investor Conference on December 2, 2020. The presentation is scheduled for 10:30-11:00 AM EST and will feature Steve Steinour and Zach Wasserman, who will discuss the bank's business performance and strategic initiatives. Investors can access the live audio on Huntington's website, where a replay will also be available. Huntington, based in Columbus, Ohio, has $120 billion in assets and operates 839 branches across seven states.
Huntington Bancshares Incorporated (Nasdaq: HBAN) is set to participate in the Bernstein Operational Decisions Conference on November 17, 2020, at 8:00 AM ET. Rich Porrello, President of Vehicle Finance and Dealer Services, will present virtually to analysts and investors, discussing the bank's business performance and strategic initiatives. The event will feature forward-looking statements. Investors can access the live audio presentation on Huntington's website, with an archived replay available following the event.
Huntington Bancshares released its inaugural Task Force on Climate-Related Financial Disclosures (TCFD) report on November 6, 2020. This report highlights the bank's commitment to addressing climate-related business risks and opportunities, enhancing transparency for investors and stakeholders. It accompanies Huntington's 2019 Environmental Social and Governance (ESG) report released in June 2020. With $120 billion in assets and a robust network of branches and ATMs, Huntington aims to integrate sustainability into its operations.
On November 3, 2020, Huntington Bancshares Incorporated (Nasdaq: HBAN) announced the pricing for its debt tender offer to purchase specific series of notes. The total consideration for each series is based on the yield of U.S. Treasury Securities, including a $30 early tender premium per $1,000 principal amount. The offer is limited to tender caps of $200 million and $300 million for different series. The tender offer expires on November 16, 2020, although the Company may not accept any tenders beyond the early tender deadline due to oversubscription.
Huntington Bancshares has announced early results of its recent debt tender offer, increasing the cap for its 2.300% Senior Notes due 2022 from $200 million to $300 million. As of November 2, 2020, around $1.1 billion of notes were tendered. The company accepted $200 million for the 3.150% Senior Notes and $299.995 million for the 2.300% Senior Notes. The early tender premium is $30 per $1,000 of notes. The tender offer is set to expire on November 16, 2020. Credit Suisse Securities is the Dealer Manager for this transaction.
Huntington Bancshares (Nasdaq: HBAN) will participate in the Bank of America Securities Future of Financials conference on November 9, 2020, at 8:50 AM ET. Key executives, including Steve Steinour and Zach Wasserman, will present virtually, discussing the company’s business performance and strategic initiatives. A live audio stream will be accessible via the investor relations section of Huntington's website, with a replay available afterward. Huntington is a regional bank holding company with approximately $120 billion in assets and operates 839 branches across seven states.
Huntington Bancshares (Nasdaq: HBAN) reported a net income of $303 million for Q3 2020, down 19% year-over-year, resulting in an earnings per share (EPS) of $0.27 (down 21%). Total revenue increased 5% to $1.252 billion, while net interest margin decreased to 2.96%. Average loans rose 7% to $80.5 billion, with core deposits up 14% to $90.7 billion. The bank allocated $177 million for credit loss provisions amid economic uncertainty. CEO Steve Steinour emphasized strong customer engagement and optimism for future growth.
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