Welcome to our dedicated page for Huntington Bancshares Incorporated news (Ticker: HBAN), a resource for investors and traders seeking the latest updates and insights on Huntington Bancshares Incorporated 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) has announced its quarterly cash dividends for common and preferred stocks. The Board of Directors declared a quarterly cash dividend of $0.155 per common share, unchanged from the previous quarter, payable on October 1, 2024, to shareholders of record on September 17, 2024.
Additionally, the company declared quarterly cash dividends on six series of its preferred stock, including Floating Rate Series B, 5.70% Series E, 5.625% Series F, 4.450% Series G, 4.5% Series H, and 6.875% Series J. These preferred stock dividends are payable on October 15, 2024, to respective shareholders of record on October 1, 2024.
Ethos Capital LP has announced the addition of four new Executive Partners: Caroline Campbell, Allie Kline, Colin Kessinger, and Nagui Elyas. These appointments bring over a century of combined experience to the firm's senior operating team. The new partners will join a group of 21 existing Executive Partners, working closely with portfolio companies throughout the investment process.
Each new partner brings unique expertise:
- Caroline Campbell: Technology and business management consulting
- Allie Kline: Business growth and transformation
- Colin Kessinger: Analytics and supply chain management
- Nagui Elyas: Education, training, and development
Ethos Capital's Managing Partners emphasized that these additions align with the firm's vision of responsible capitalism, prioritizing sustained growth over short-term profits.
Huntington Private Bank, part of The Huntington National Bank's wealth-management division, has received two accolades at the 2024 Wealth for Good Awards. Recognized for its 'Internal Diversity and Inclusion Program' and 'Thought Leadership,' the awards highlight Huntington's commitment to fostering an inclusive environment and providing valuable financial insights to clients. The awards, judged by a panel of independent experts, honor companies demonstrating innovation and excellence. Director Melissa Holding emphasized the bank's investment in staff and client education as key differentiators. The bank serves high-net-worth individuals, families, and institutions with a variety of financial services.
Huntington Bancshares (Nasdaq: HBAN) announced that its second quarter 2024 financial results will be released before the market opens on Friday, July 19, 2024. Investors can access the news release and financial data on the company's Investor Relations website. Additionally, Huntington will conduct an earnings call at 8 a.m. ET on the same day, which can be accessed via a live webcast or by dialing in. The call will be archived on the company's website, with a telephone replay available until July 26, 2024.
Huntington Bancshares announced a quarterly cash dividend on its 5.70% Series I Non-Cumulative Perpetual Preferred Stock. The dividend amounts to $356.25 per share or $0.35625 per depositary share. The dividend will be payable on September 3, 2024, to shareholders of record as of August 15, 2024.
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.
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.
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.
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.
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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