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 will present at the 2021 Bank of America Securities Banking and Financials Conference on November 10, 2021, at 11:20 AM ET. Chief Financial Officer Zach Wasserman will address analysts and investors about the company's business, financial performance, and strategic initiatives. The presentation will include forward-looking statements. Interested parties can access the live audio presentation on Huntington's investor relations website, with an archived replay available afterwards.
On November 4, 2021, Black Knight (NYSE:BKI) announced that Huntington National Bank renewed its contract for the MSP loan servicing system. The renewal signifies a strong partnership as Huntington seeks growth in its consumer real estate loan portfolio. Black Knight will also provide additional solutions, including Servicing Digital, enhancing customer engagement and streamlining mortgage processes. The deal includes data analytics tools like McDash reports for better portfolio management.
Huntington Bancshares (HBAN) reported its Q3 2021 earnings with a net income of $377 million, reflecting a $74 million increase year-over-year. Earnings per share (EPS) were $0.22, down $0.05 year-over-year, but adjusted EPS reached $0.35 after excluding $0.13 in acquisition-related costs. Total revenue soared 32% to a record $1.7 billion, driven by the TCF acquisition. The company repurchased $500 million of common stock and increased its dividend to $0.155 per share. Key metrics include a tangible book value of $8.10 and a 0.86% return on average assets.
Huntington Bancshares announced a quarterly cash dividend of $0.155 per common share, reflecting a 3% increase from the previous quarter. The dividend, payable on January 3, 2022, benefits shareholders on record by December 17, 2021. Additionally, quarterly dividends were declared for five series of preferred stock, with the highest being $1,425.00 per share for Series E. These dividends are payable on January 18, 2022. The increase in dividend supports the capital allocation strategy and showcases confidence in future growth.
Huntington National Bank (NASDAQ: HBAN) has been recognized as the largest originator of Small Business Administration (SBA) 7(a) loans in the United States for the fourth consecutive year, demonstrating its strong commitment to small businesses. For fiscal year 2021, Huntington facilitated 47,000 Paycheck Protection Program loans and supported a substantial number of businesses across its footprint states, with Ohio leading at 1,998 loans totaling $366 million. The bank is also expanding its presence in Minnesota and Colorado and has pledged $40 billion toward community investments, reinforcing its dedication to financial inclusion.
Huntington Bancshares (Nasdaq: HBAN) will report its Q3 2021 earnings on October 28, 2021, prior to market opening, alongside a news release and financial data. A conference call will occur on the same day at 10:00 a.m. ET, accessible via webcast and phone at (877) 407-8029 with conference ID 13723641. Huntington, headquartered in Columbus, Ohio, manages assets totaling $175 billion and operates over 1,200 branches across 12 states, offering comprehensive banking services.
Huntington Bancshares has declared a quarterly cash dividend of $356.25 per share on its 5.70% Series I Non-Cumulative Perpetual Preferred Stock (Nasdaq: HBANM). The dividend, which equates to $0.35625 per depositary share, will be payable on December 1, 2021 to shareholders who are on record as of November 15, 2021.
This reflects the company's ongoing commitment to provide returns to its shareholders amidst its operations as a significant regional bank with assets totaling $175 billion.
Huntington (Nasdaq: HBAN) has appointed Aaron Sporck to lead its middle market banking efforts in West Virginia. This strategic move aims to enhance the bank's commercial banking services, including lending and treasury management. Sporck, with over 20 years of public service experience, previously served as Director of Economic Development for Senator Shelley Moore Capito. His commitment to fostering economic growth positions him well for this role. Huntington Bancshares, a $175 billion asset regional bank, continues to expand its footprint, operating over 1,200 branches across 12 states.
Huntington Bancshares (Nasdaq: HBAN) announced the redemption of all 4,000,000 outstanding depositary shares of its 5.875% Series C Non-Cumulative Perpetual Preferred Stock on October 15, 2021. Each depositary share will be redeemed at a price of $25.00, along with declared and unpaid dividends of $0.36725 per share, covering the period from July 15, 2021 to October 15, 2021. After the redemption date, dividends will cease to accrue. The shares are held through the Depository Trust Company, following standard redemption procedures.
Huntington Bancshares Incorporated (Nasdaq: HBAN) announced its participation in the Barclays Global Financial Services Conference on September 13, 2021. Zach Wasserman, CFO, will present virtually at 11:15 AM ET, discussing business trends, financial performance, and strategic initiatives. A moderated Q&A session will follow. Interested investors can access the live presentation via Huntington's investor relations page, with a replay available later. As a regional bank holding company with $175 billion in assets, Huntington operates over 1,200 branches across 12 states.