Huntington Bancs Stock Price, News & Analysis

Huntington Bancshares Incorporated Depositary Shares 4.500% Series H Non-Cumulative Perpetual (trading on Nasdaq under the symbol HBANP) represent an interest in a specific class of preferred stock issued by Huntington Bancshares Incorporated. According to the company’s SEC filings, each HBANP depositary share represents a 1/40th interest in a share of Huntington’s 4.500% Series H Non-Cumulative Perpetual Preferred Stock.

Huntington Bancshares Incorporated is described in company disclosures and news releases as a regional bank holding company headquartered in Columbus, Ohio. It is incorporated in Maryland and is the parent of The Huntington National Bank and its affiliates. The bank and its affiliates provide banking, payments, wealth management, and risk management products and services to consumers, small and middle-market businesses, corporations, municipalities, and other organizations. Huntington operates branches across multiple U.S. states, with certain businesses operating in extended geographies.

The Series H preferred stock is identified in SEC filings as non-cumulative and perpetual. Non-cumulative means that if dividends are not declared for a given period, they do not accrue for future payment. Perpetual means the preferred stock has no fixed maturity date. The Series H preferred stock carries a stated dividend rate of 4.500%, and HBANP depositary shares entitle holders to a proportional economic interest in that preferred stock.

Company press releases repeatedly note that Huntington’s Board of Directors has declared quarterly cash dividends on the 4.500% Series H preferred stock, with amounts specified on both a per-share and per-depositary-share basis. For HBANP, the dividend disclosures state that each depositary share is entitled to a specified cash amount per quarter, reflecting the 1/40th interest in a share of the Series H preferred stock. These dividends are described as payable on stated dates to shareholders of record as of earlier record dates.

In SEC filings, Huntington lists HBANP among the securities registered under Section 12(b) of the Securities Exchange Act of 1934, alongside its common stock (HBAN) and other series of preferred stock depositary shares (such as Series I and Series J). The filings specify that the Series H preferred stock ranks on a parity, with respect to dividends and distributions upon liquidation, with other designated series of Huntington preferred stock, and is senior to the company’s common stock and certain other junior securities.

Huntington’s public disclosures also describe how preferred stock such as the Series H fits into the company’s capital structure. The preferred stock is characterized as serial preferred stock with defined rights, preferences, privileges, qualifications, restrictions, and limitations that are set forth in the company’s charter documents and related articles supplementary filed with the State Department of Assessments and Taxation of Maryland. These documents govern matters such as dividend rights, liquidation preference, ranking relative to other securities, and voting rights under specified circumstances.

For investors, HBANP provides exposure to Huntington’s 4.500% Series H Non-Cumulative Perpetual Preferred Stock through exchange-traded depositary shares. The security is linked to a large regional bank holding company that, according to its public descriptions, focuses on serving consumers and a range of business and institutional clients with banking, payments, wealth management, and risk management services across its branch network and extended geographies.

Business context of the issuer

Huntington Bancshares Incorporated is described in its news releases as a regional bank holding company with assets measured in the hundreds of billions of dollars. Founded in 1866, it operates The Huntington National Bank and affiliates, which provide banking and related financial services. The company’s disclosures highlight customer groups that include consumers, small and middle-market businesses, corporations, and municipalities.

Within this broader banking organization, preferred stock series such as the 4.500% Series H represent a component of the company’s capital structure. SEC filings show that Huntington has issued multiple series of non-cumulative perpetual preferred stock, some of which are represented by exchange-traded depositary shares. These series are structured with specified dividend rates and liquidation preferences and are governed by articles supplementary that form part of the company’s charter.

Structure of HBANP depositary shares

In the company’s 8-K filings, Huntington states that the Depositary Shares (each representing a 1/40th interest in a share of 4.500% Series H Non-Cumulative, perpetual preferred stock) trade under the symbol HBANP on Nasdaq. This means that each HBANP share corresponds to a fractional interest in an underlying share of the Series H preferred stock, and holders of HBANP are entitled to the proportional rights and preferences associated with that fractional interest, including dividends and liquidation distributions as described in the governing documents.

The same filings describe how, for other preferred series, depositary shares entitle holders to a proportional interest in the underlying preferred stock and its rights. For Series H, HBANP serves this role, allowing investors to trade smaller-denomination interests in the preferred stock on a national securities exchange.

Dividends and ranking

Multiple Huntington press releases describe the declaration of quarterly cash dividends on the 4.500% Series H Non-Cumulative Perpetual Preferred Stock, with explicit reference to HBANP. These releases specify the dividend per share of the preferred stock and the equivalent amount per depositary share. They also identify payment dates and record dates for these dividends.

In an 8-K related to another preferred series, Huntington explains that its preferred stock series, including the 4.500% Series H, rank on a parity with each other with respect to dividends and distributions upon liquidation, dissolution, or winding-up, and are senior to the company’s common stock and certain other junior securities. This parity ranking means that, in the event of liquidation or in connection with dividend payments, the Series H preferred stock shares rights and limitations similar to those of other parity preferred series issued by Huntington.

Regulatory and listing information

Huntington Bancshares Incorporated is incorporated in Maryland and is registered with the Securities and Exchange Commission under Commission File Number 1-34073. The company’s SEC filings list HBANP as a class of securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 and traded on Nasdaq. The filings also identify Huntington’s jurisdiction of incorporation and its status as a bank holding company.

Because HBANP is a preferred stock depositary share of a regional bank holding company, its terms and investor protections are detailed in formal documents such as articles supplementary, deposit agreements, and registration statements referenced in Huntington’s SEC filings. These documents are incorporated by reference into the company’s 8-K filings and set out the full legal terms governing the Series H preferred stock and the HBANP depositary shares.