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 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.
Huntington Bancshares (Nasdaq: HBAN) reported a net income of $303 million for Q3 2020, down 19% year-over-year, resulting in an earnings per share (EPS) of $0.27 (down 21%). Total revenue increased 5% to $1.252 billion, while net interest margin decreased to 2.96%. Average loans rose 7% to $80.5 billion, with core deposits up 14% to $90.7 billion. The bank allocated $177 million for credit loss provisions amid economic uncertainty. CEO Steve Steinour emphasized strong customer engagement and optimism for future growth.
Huntington Bancshares Incorporated (Nasdaq: HBAN) announced on October 20, 2020, the commencement of cash tender offers to purchase up to $200 million of its outstanding senior notes. The tender offers, outlined in an Offer to Purchase, are subject to certain conditions and will expire on November 16, 2020. Holders can receive an Early Tender Premium of $30 per $1,000 of notes if they tender by November 2, 2020. Funds for the purchase will come from available cash resources. Credit Suisse is the Dealer Manager for the tender offer.
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Huntington (Nasdaq: HBAN) has been recognized as the largest originator of Small Business Administration (SBA) 7(a) loans for the third consecutive year, marking 12 years in this position. The bank processed over 38,000 Paycheck Protection Program loans in 2020, demonstrating its commitment to small businesses during challenging times. Additionally, Huntington announced a five-year, $20 billion Community Plan aimed at fostering economic opportunities and supporting businesses, including a $7.6 billion lending commitment. This strengthens Huntington's role in the community and small business sector.
Huntington Bancshares (Nasdaq: HBAN) will release its 2020 third quarter earnings on October 22, 2020, before market opening. Financial data will be available on its Investor Relations website. The management will hold an earnings conference call at 10:00 a.m. ET on the same day, accessible via a live Internet webcast and a dial-in number. Huntington, headquartered in Columbus, Ohio, holds approximately $118 billion in assets and operates 839 branches across seven Midwestern states.
Huntington has announced two new overdraft protection features: the 24-Hour Grace for Business and a No Overdraft Fee $50 Safety Zone. These initiatives aim to assist customers during the pandemic's economic challenges. The 24-Hour Grace allows customers to avoid overdraft fees if they deposit funds by the next business day. The $50 Safety Zone eliminates fees for overdrafts of $50 or less, up from a previous limit of $5. CEO Steve Steinour emphasizes that these changes reflect Huntington's commitment to customer financial well-being and follow a decade of its Fair Play Banking initiative.