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.
Huntington Bancshares (HBAN) reported a net loss of $15 million for Q2 2021, a decrease of $165 million year-over-year, primarily due to TCF acquisition-related expenses. EPS for the quarter was ($0.05), down $0.18 YoY, but adjusted EPS was $0.35 after accounting for $0.40 in notable items. The TCF acquisition added approximately $50 billion in assets and is on track for integration by Q4 2021. The Board approved an $800 million share repurchase program for the next year. Customer satisfaction rankings from J.D. Power remain strong, highlighting the bank's focus on digital innovation.
Huntington Bancshares Incorporated has announced its Board of Directors declared a $0.15 quarterly cash dividend on common stock (Nasdaq: HBAN), payable on October 1, 2021. The record date for shareholders is September 17, 2021. Additionally, six series of preferred stock dividends were declared, including $7.06532394 for Series B, $14.69 for Series C (Nasdaq: HBANN), $1,425.00 for Series E, $1,406.25 for Series F, $1,112.50 for Series G, and $11.25 for Series H (Nasdaq: HBANP). All preferred dividends are payable on October 15, 2021.
Huntington Bancshares Incorporated (Nasdaq: HBAN) will announce its 2021 second quarter earnings on July 29, 2021, before market opening. A news release with financial data will be accessible on the Investor Relations section of the company’s website. An earnings conference call will take place at 8:30 a.m. ET, featuring a live webcast and dial-in option at (877) 407-8029 using conference ID #13720782. A replay of the call will be available until August 6, 2021.
Huntington, a regional bank holding company with $175 billion in assets, provides a range of financial services across 12 states.
Huntington (Nasdaq: HBAN) has launched Early Pay, allowing customers with qualifying direct deposits to access their paychecks up to two days early without additional fees. This initiative is part of Huntington's Fair Play Banking philosophy and aims to address customer needs. Eligible customers will be automatically enrolled and notified via email. The bank's recent product offerings also include Standby Cash, providing immediate access to $1,000 for eligible customers. Huntington continues to innovate to enhance customer financial well-being.
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Huntington Bancshares (Nasdaq: HBAN) announced a new Strategic Community Plan with a commitment of $40 billion to address social, racial, environmental, and economic inequities. This initiative focuses on improving financial access for minority and under-resourced communities, with specific allocations of $16 billion for minority borrowers and $24 billion for affordable housing. Additionally, Huntington will invest $10 billion in small business loans and $6.5 billion in community development. This plan follows their merger with TCF Financial, enhancing their community engagement and financial strength.
Huntington Bancshares Incorporated (Nasdaq: HBAN) has announced the redemption of all 24 million outstanding depositary shares (Nasdaq: HBANO) on July 15, 2021. Each share represents a 1/40th interest in Huntington's 6.250% Series D Non-Cumulative Perpetual Preferred Stock. The shares will be redeemed at $25.00 each, plus declared and unpaid dividends of $0.390625 per share, totaling $15.625 for the period from April 15 to July 15, 2021. Post-redemption, dividends will cease to accrue on these shares.
On June 9, 2021, Huntington Bancshares completed its merger with TCF Financial Corporation, forming a top 25 U.S. bank holding company with approximately $175 billion in assets.
This merger enhances Huntington's profitability, scale, and market position, while creating revenue growth opportunities and significant cost synergies.
Huntington appointed five new directors from TCF, ensuring a distributed leadership model across critical markets, including Minnesota and Colorado.
Shareholders of TCF received 3.0028 shares of Huntington stock per share owned, with dividends announced for the newly converted shares.
Huntington Bancshares Incorporated (Nasdaq: HBAN) will participate in the 2021 Morgan Stanley US Financials, Payments, & CRE Conference on June 15, 2021, at 11:00 AM ET. CFO Zach Wasserman will present virtually, discussing the bank's business performance and strategic initiatives. The presentation will include forward-looking statements. Investors can access the live audio presentation via Huntington's investor relations website, with a replay available afterward. Huntington, based in Columbus, Ohio, manages $126 billion in assets across 814 branches and provides a range of financial services.
Huntington (Nasdaq: HBAN) has launched Standby Cash, its first digital-only product, enabling eligible customers to access a line of credit up to $1,000 without interest or fees if on automatic payments. Qualification relies on the management of checking accounts rather than credit scores. This initiative aligns with Huntington's Fair Play Banking philosophy, aiming to assist customers with unexpected expenses and promote long-term financial health, particularly during the ongoing challenges of the COVID-19 pandemic.