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 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.
Summary not available.
Huntington Bancshares Incorporated (Nasdaq: HBAN) has announced an increase in its prime rate from 3.25% to 3.50%, effective March 17, 2022. This marks the first adjustment since March 16, 2020, when the rate was reduced. The regional bank, headquartered in Columbus, Ohio, manages assets worth $174 billion and offers a wide array of financial services across more than 1,000 branches in 11 states. The increase in the prime rate could affect loan interest rates for consumers and businesses, potentially influencing borrowing costs and lending activity.
Huntington Bancshares, Inc. (Nasdaq: HBAN) announced that Brant J. Standridge will join as President of Consumer & Business Banking starting in early April 2022. Standridge previously served at Truist Financial as Chief Retail Community Banking Officer, overseeing a national branch network. His expertise includes driving customer satisfaction and digital adoption. He aims to enhance Huntington's growth while focusing on consumer and business banking strategies. Standridge holds a bachelor's degree from the University of Georgia and is completing his MBA at Emory University.
Huntington Bancshares has launched a new Cashback Credit Card designed to provide customers with greater flexibility and simplified rewards. Cardholders can earn 1.5% unlimited cash back on all purchases, with easy redemption options including automatic monthly statement credits. The card features
- No annual or foreign transaction fees
- No minimum redemption requirement
- Rewards that do not expire
- Mastercard World Elite benefits
- Huntington Late Fee Grace
On March 4, 2022, Huntington National Bank, a subsidiary of Huntington Bancshares (Nasdaq: HBAN), announced its membership with the Partnership for Carbon Accounting Financials (PCAF). This move emphasizes the bank's commitment to Environmental, Social, and Governance (ESG) initiatives, particularly in climate and sustainability efforts. Huntington has successfully reduced Scope 1 and Scope 2 greenhouse gas emissions by 35% since 2017 and aims to source 50% of its electricity from renewable sources by 2035. The bank also pledged $40 billion towards its Strategic Community Plan, which addresses environmental and racial equity challenges.
Huntington Bancshares Incorporated (Nasdaq: HBAN) will present at the 2022 RBC Capital Markets Global Financial Institutions Conference on March 9, 2022, at 11:20 AM (Eastern Time). Zach Wasserman, CFO, and Scott Kleinman, co-president of commercial banking, will discuss the company's business performance and strategies via a live webcast accessible on their investor relations website. The bank, with $174 billion in assets, operates over 1,000 branches in 12 states, providing a full range of financial services.
Huntington Bancshares (Nasdaq: HBAN) announced a definitive agreement to acquire Capstone Partners, a leading investment banking and advisory firm for middle market companies. The acquisition aims to enhance Huntington's Capital Markets strategic plan, allowing it to better serve middle market clients and expand its national footprint. Capstone, ranked among top U.S. advisors for middle market M&A, will strengthen Huntington's advisory services. The transaction is expected to close in Q2 2022, pending regulatory approvals. Financial terms were not disclosed.
Summary not available.
Huntington Bancshares declared a quarterly cash dividend of $0.155 per common share, maintaining the same rate as the previous quarter. This dividend is to be paid on April 1, 2022, to shareholders on record as of March 18, 2022. Additionally, the Board announced quarterly cash dividends on five series of preferred stock, with payment scheduled for April 15, 2022. The preferred dividends range from $7.3479 to $1,425.00 per share. Huntington, based in Columbus, Ohio, manages assets totaling $174 billion.
Huntington Bancshares reported its Q4 2021 earnings, achieving $401 million in net income, a 59% increase year-over-year. EPS decreased to $0.26, down $0.01 from Q4 2020. Adjusted EPS was $0.36 after accounting for notable items. Total revenue rose 24% to $6 billion for 2021, driven by the TCF acquisition. Total loans increased 1% to $111.9 billion. The company repurchased $150 million in common stock and increased its dividend by 3.3%. CEO Steve Steinour expressed confidence in continued growth through 2022.