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Huntington Bancshares Incorporated - $HBAN STOCK NEWS

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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.

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Huntington Bancshares Incorporated (Nasdaq: HBAN) announced a temporary disruption in the live audio webcast of its presentation at the Morgan Stanley US Financials, Payments & CRE Conference due to a vendor error. The issue has been resolved, and a full replay of the presentation is now accessible in the 'Events and Presentations' section of the company's Investor Relations website.

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Huntington Bancshares (Nasdaq: HBAN) announced its participation in the 2024 Morgan Stanley US Financials, Payments, and CRE Conference scheduled for June 10, 2024. Chief Financial Officer Zach Wasserman will present at 8:00 AM ET, covering business trends, financial performance, and strategic initiatives.

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Capstone Partners’ Aerospace, Defense, Government, & Security (ADGS) Group released its Annual Report, highlighting key trends and data from 2023. The U.S. Aerospace & Defense (A&D) sector saw a 17% increase in shipments, returning to 2018 levels, and a 10% rise in EBITDA earnings year-over-year, outstripping the flat performance of S&P 500 earnings.

Mergers and acquisitions (M&A) activity in the sector, however, declined by 12% year-over-year and was 24% below pre-pandemic levels, influenced by higher interest rates. Despite this, strong sector fundamentals and a stabilizing financing environment suggest M&A activity might increase in the future.

The report also delves into the resurgence in demand for commercial air travel, capped defense spending, selective Government IT Services activity, robust Security Solutions & Cybersecurity outlook, and the stability offered by Training & Simulation services.

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Capstone Partners has released its 2024 Women Entrepreneurs Study, analyzing over 200 female business owners in the U.S. The study reveals that 59% of women CEOs prioritize market penetration, and 53.8% focus on expanding their product or service portfolios. While only 18.1% have engaged in M&A activities, 36.7% are considering it as an exit strategy, with 64% of CEOs aged 18-34 being approached by sponsors. Preparedness for exit is higher than perceived, with 74.8% completing at least one preparation step. Major concerns include inflation (55%) and customer retention (35%). Funding challenges persist, with only 6.1% of VC deals in 2023 going to female founders, and average deal sizes significantly smaller than those for male counterparts.

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Huntington Bancshares (Nasdaq: HBAN) announced the appointment of Angie Klett as President of Huntington Insurance, Inc., effective July 1, 2024. Klett succeeds Mary Beth Sullivan, who is retiring after nearly 20 years at Huntington. Klett will oversee the growth and management of Huntington Insurance's various segments, including commercial, employee benefits, life, personal lines, and title and captive insurance. Before joining Huntington, Klett was a Senior Vice President at Nationwide Insurance, where she led mergers, acquisitions, and strategic partnerships. Huntington Bancshares, a $194 billion asset regional bank, offers a range of financial services and operates approximately 970 branches across 11 states.

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Huntington Bancshares Incorporated has declared a quarterly cash dividend on its common stock (Nasdaq: HBAN) of $0.155 per share, unchanged from the prior quarter. The common stock dividend is payable on July 1, 2024. Additionally, dividends were declared on six series of preferred stock.
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Huntington Bancshares Incorporated reported net income of $419 million for the 2024 first quarter, with earnings per common share at $0.26, showing a significant increase from the prior quarter. The company experienced sustained deposit and loan growth, coupled with strong credit quality. Net interest income decreased by $29 million, while noninterest income increased by $62 million. The company maintained a solid financial position with $94 billion in cash and cash equivalents. Average total deposits and loans showed positive growth trends. Huntington received multiple awards for excellence in banking services. CEO Steve Steinour expressed confidence in the company's growth prospects and credit quality.
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Huntington Bancshares Incorporated (HBAN) announced conference calls to review quarterly financial results from 2024 to 2026. The calls will be held on specific dates and times, with financial data released prior to the market opening. Investors can access the webcasts and slides on the company's website or via dial-in numbers.
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Huntington Bancshares Incorporated declares quarterly cash dividend on Series I Non-Cumulative Perpetual Preferred Stock.
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Huntington National Bank's Lift Local Business program wins the 2024 Joe Belew Award for supporting minority-, woman-, and veteran-owned small businesses. The program offers funding, business planning support, and financial education, benefiting over 1,450 businesses with $101 million in loans.
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FAQ

What services does Huntington Bancshares Inc. offer?

Huntington Bancshares Inc. provides a comprehensive suite of banking services including consumer banking, small business solutions, commercial banking, treasury management, wealth management, brokerage, trust, and insurance services.

Where is Huntington Bancshares Inc. headquartered?

Huntington Bancshares Inc. is headquartered in Columbus, Ohio.

How many branches and ATMs does Huntington operate?

Huntington operates over 750 branches and more than 1,500 ATMs across six midwestern states.

What was Huntington's net income for the fourth quarter of 2023?

Huntington reported a net income of $243 million for the fourth quarter of 2023.

How did Huntington perform in the first quarter of 2024?

In 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.

What are Huntington's primary business segments?

Huntington's primary business segments are Consumer & Regional Banking and Commercial Banking.

How long has Huntington Bancshares Inc. been in business?

Huntington Bancshares Inc. was founded in 1866.

What strategic initiatives did Huntington undertake in 2023?

In 2023, Huntington achieved sustained deposit growth, enhanced payments capabilities, completed a business segment re-alignment, and expanded commercial and regional banking into the Carolinas.

Where can I find Huntington Bancshares' financial results?

Huntington Bancshares' financial results and detailed performance metrics are available on the Investor Relations section of its website, http://www.huntington.com.

How does Huntington manage its credit quality?

Huntington maintains a disciplined approach to managing credit quality, consistent with its aggregate moderate-to-low risk appetite.

Huntington Bancshares Incorporated

Nasdaq:HBAN

HBAN Rankings

HBAN Stock Data

18.03B
1.44B
0.92%
82.08%
1.85%
Commercial Banking
Finance and Insurance
Link
United States of America
COLUMBUS

About HBAN

huntington bancshares incorporated is a $70 billion asset regional bank holding company headquartered in columbus, ohio, with a network of more than 750 branches and more than 1,500 atms across six midwestern states. founded in 1866, the huntington national bank and its affiliates provide consumer, small business, commercial, treasury management, wealth management, brokerage, trust, and insurance services. huntington also provides auto dealer, equipment finance, national settlement and capital market services that extend beyond its core states. visit huntington.com for more information. the huntington national bank, member fdic. the logo mark and huntington® are federally registered service marks of huntington bancshares incorporated. huntington social media community guidelines: http://bit.ly/huntingtonsocialmedia