Huntington Bancshares Incorporated reports recurring developments as a regional bank holding company built around The Huntington National Bank and related affiliates. Company news covers consumer and commercial banking, payments, wealth management, risk management products, quarterly earnings communications, and cash dividends on common and preferred stock.
Updates also include commercial banking expansion in U.S. markets, consumer banking partnerships, and activity from Capstone Partners, Huntington's middle-market investment banking subsidiary. Capstone-related news commonly addresses M&A advisory, debt and equity placement, restructuring, special situations, valuation and fairness opinions, and sector reports on middle-market transaction activity.
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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