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 reported a challenging year in 2020, with net income of $817 million, down 42% from 2019, and EPS declining 46% to $0.69. Despite a 3% increase in total revenue to $4.8 billion, net interest margin fell to 2.99%. The bank saw a significant rise in noninterest income, driven largely by a 119% increase in mortgage banking income. The allowance for credit losses surged by 265% amid the pandemic's economic impact. However, the tangible book value per share increased 3% to $8.51. The company aims for strategic growth in 2021 through investments in technology and the acquisition of TCF Financial.
Huntington Bancshares Incorporated (Nasdaq: HBAN) plans to report its 2020 fourth quarter earnings on January 22, 2021, before market opening. Financial data will be available in the Investor Relations section of their website. Management will host an earnings conference call at 8:30 a.m. ET on the same day, accessible via live webcast or telephone. A replay will be available after the call. Huntington, headquartered in Columbus, Ohio, boasts $120 billion in assets and a network of 839 branches across seven Midwestern states.
Huntington launched its Support Local video series on Dec. 1, 2020, to highlight the resilience of small businesses during the pandemic. This campaign showcases real-life stories of business owners adapting to challenges. Huntington, the No. 1 SBA 7(a) lender, has implemented programs such as suspended late fees and processed thousands of PPP loan applications to aid small businesses. The initiative reflects Huntington's commitment to economic inclusion, backed by a $20 billion Community Plan to support local economies.
Huntington (Nasdaq: HBAN) announced a significant upgrade to its ATM network, replacing 400 machines by year-end with state-of-the-art Hyosung MoniPlus2S software. This upgrade enhances transaction speed and security, allowing customers to withdraw bills in various denominations. As of Q3 2020, Huntington operates 1,330 ATMs across seven Midwest states. The initiative, aimed at improving customer experience, also prepares for future enhancements, including tap-and-go authentication. This installation marks Hyosung America’s largest U.S. rollout of MoniPlus software across multiple ATM vendors.
Huntington Bancshares Incorporated (Nasdaq: HBAN) will participate in the Nasdaq 43rd Virtual Investor Conference on December 2, 2020. The presentation is scheduled for 10:30-11:00 AM EST and will feature Steve Steinour and Zach Wasserman, who will discuss the bank's business performance and strategic initiatives. Investors can access the live audio on Huntington's website, where a replay will also be available. Huntington, based in Columbus, Ohio, has $120 billion in assets and operates 839 branches across seven states.
Huntington Bancshares Incorporated (Nasdaq: HBAN) is set to participate in the Bernstein Operational Decisions Conference on November 17, 2020, at 8:00 AM ET. Rich Porrello, President of Vehicle Finance and Dealer Services, will present virtually to analysts and investors, discussing the bank's business performance and strategic initiatives. The event will feature forward-looking statements. Investors can access the live audio presentation on Huntington's website, with an archived replay available following the event.
Huntington Bancshares released its inaugural Task Force on Climate-Related Financial Disclosures (TCFD) report on November 6, 2020. This report highlights the bank's commitment to addressing climate-related business risks and opportunities, enhancing transparency for investors and stakeholders. It accompanies Huntington's 2019 Environmental Social and Governance (ESG) report released in June 2020. With $120 billion in assets and a robust network of branches and ATMs, Huntington aims to integrate sustainability into its operations.
On November 3, 2020, Huntington Bancshares Incorporated (Nasdaq: HBAN) announced the pricing for its debt tender offer to purchase specific series of notes. The total consideration for each series is based on the yield of U.S. Treasury Securities, including a $30 early tender premium per $1,000 principal amount. The offer is limited to tender caps of $200 million and $300 million for different series. The tender offer expires on November 16, 2020, although the Company may not accept any tenders beyond the early tender deadline due to oversubscription.
Huntington Bancshares has announced early results of its recent debt tender offer, increasing the cap for its 2.300% Senior Notes due 2022 from $200 million to $300 million. As of November 2, 2020, around $1.1 billion of notes were tendered. The company accepted $200 million for the 3.150% Senior Notes and $299.995 million for the 2.300% Senior Notes. The early tender premium is $30 per $1,000 of notes. The tender offer is set to expire on November 16, 2020. Credit Suisse Securities is the Dealer Manager for this transaction.
Huntington Bancshares (Nasdaq: HBAN) will participate in the Bank of America Securities Future of Financials conference on November 9, 2020, at 8:50 AM ET. Key executives, including Steve Steinour and Zach Wasserman, will present virtually, discussing the company’s business performance and strategic initiatives. A live audio stream will be accessible via the investor relations section of Huntington's website, with a replay available afterward. Huntington is a regional bank holding company with approximately $120 billion in assets and operates 839 branches across seven states.