See Big banks performed well in first quarter despite gut-wrenching volatility: analyst, Profit risks for 10 large regional banks: How a reversal of pandemic deposit trends could cut earnings, Megabanks are cutting jobs in 2023 following a year in which they had to grab any human being they could, KBW shuffles bank-stock ratings as stock price beatdown upends sector ahead of earnings, Huntington Bancshares upgraded by KBW to market perform from underperform, Short Sellers Piled Into Regional Bank Stocks, and Scored, This Month. Ending core deposits increased $2.5 billion from the prior quarter reflecting continued momentum in consumer deposit gathering and ongoing focus on acquiring and deepening primary bank relationships. On the positive side, deposits grew during the quarter and are essentially flat for the year, and the pricing on interest-bearing deposits was better than we had expected (2.06% versus our expectation of 2.3%). We completed the cost synergies from TCF, which provided additional scale and efficiencies in numerous areas across the bank, even as we continued to invest in key revenue-producing initiatives. Different privacy and security practices may apply. We delivered sustained deposit growth, drove capital ratios higher and managed credit exceptionally well. The price has fallen in 6 of the last 10 days and is down by -8.61% for this period. Huntington Bancshares is a regional bank holding company headquartered in Columbus, Ohio. The combined company has approximately . Newsroom :: Huntington Bancshares Incorporated (HBAN) Provide specific products and services to you, such as portfolio management or data aggregation. Huntington Bancshares Incorporated is a $183 billion asset regional bank holding company headquartered in Columbus, Ohio. In 1979, a loan production office opened in Dayton, Ohio.[14]. Average total loans and leases increased $1.9 billion, or 2%, from the prior quarter to $118.9 billion. In 1958, Huntington acquired the Columbus-based The Market Exchange Bank Company. Other checks were signed by Charles Dickens, Thomas Edison, Ernest Hemingway, and Susan B. Anthony, among others. Please see the 2023 Second Quarter Quarterly Financial Supplement for additional detailed financial performance metrics. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Delivering long-term shareholder value through top-tier performance, while maintaining an aggregate moderate-to-low risk appetite and well-capitalized position. To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research. Delivers Record Full-Year Net Income and Achievement of Medium-Term Financial Targets. No size, it seems, is now too small to fail. Pre-Provision Net Revenue (PPNR) decreased $42 million, or 5%, from the prior quarter to $802 million, and increased $68 million, or 9%, from the year-ago quarter. Huntington Bancshares Incorporated Declares Quarterly Cash Dividends on HBANs price/book is 0.99. Huntington has never been better positioned to navigate through various economic scenarios, with solid capital levels and top tier reserve profile guided by our aggregate moderate-to-low risk appetite through the cycle. Huntington Bancshares Incorporated. [67] The most notable check was one written by Lincoln to "self" for $800 dated April 13, 1865, the day before his assassination. About Us | Huntington Davidson Reaffirms Their Hold Rating on Huntington Bancshares (HBAN), Wedbush Reaffirms Their Hold Rating on Huntington Bancshares (HBAN), Investors Still Seem Scared to Death of These Stocks, Huntington's (HBAN) Q2 Earnings Beat Estimates, Costs Rise, Huntington Bancshares Q2 Highlights: EPS Beat, In-Line Revenue & More, Huntington Bancshares (HBAN) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates, Huntington Bancshares (HBAN) Q2 Earnings and Revenues Beat Estimates, Truist Financial: A New Bank for a New Era. The Huntington logo, Huntington,The Huntington logoHuntington.Welcome. and Huntington Heads Up are federally registered service marks of Huntington Bancshares Incorporated. Learn how it impacts everything we do, Do Not Sell or Share My Personal Information. Huntington Bancshares Incorporated (Nasdaq: HBAN) is a $183 billion regional bank holding company headquartered in Columbus, Ohio, whose principal subsidiary is The Huntington National Bank. Providing competitive products and services and delivering a superior customer experience, always striving to earn the trust of our customers. Data delayed Terms of Use. Net interest income increased $58 million, or 4%, from the prior quarter, reflecting net interest margin expansion of 10 basis points to 3.52% and higher average total loans and leases. COLUMBUS, Ohio (AP) COLUMBUS, Ohio (AP) Huntington Bancshares Inc. (HBAN) on Friday reported second-quarter profit of $559 million. Average total deposits decreased $585 million from the prior quarter and $551 million from the year-ago quarter. 2 min read COLUMBUS, Ohio, July 20, 2023 /PRNewswire/ -- Huntington Bancshares Incorporated announced that its Board of Directors declared a quarterly cash. Sources: FactSet, Dow Jones, Bonds: Bond quotes are updated in real-time. [43][44][45][46], In 2012, Huntington was in merger discussions with Flint, Michigan-based Citizens Republic Bancorp. , Huntington,Huntington.Welcome. and Huntington Heads Up are federally registered service marks of Huntington Bancshares Incorporated. In 1967, Huntington Bancshares acquired the Washington Court House-based The Washington Savings Bank. We value your opinion. The U.S. government made a profit of over $144 million from its investment in the company. The Huntington National Bank is an Equal Housing Lender and Member FDIC. Common Equity Tier 1 (CET1) risk-based capital ratio increased to 9.44%, within our 9% to 10% operating guideline. The biggest banks weathered the storm well; regional banks face manageable earnings pressures. 15 minutes unless otherwise indicated (view Read our editorial policy to learn more about our process. There are currently no items in this Watchlist. Heres how to transition your portfolio from growth to income. A telephone replay will be available approximately two hours after the completion of the call through January 28, 2023 at (877)660-6853 or (201)612-7415; conference ID #13734972. Terms of Use. HBANs price/sales is 2.14. We delivered broad-based loan growth and continued to grow our high quality deposit base over the course of the year. Corporate Enterprise Commercial Banking & Financial - Huntington Bank Nonperforming assets have declined six consecutive quarters. Contact Information Investor Relations Huntington Investor Relations Huntington Center, HC0935 41 South High Street Columbus, OH 43287 T: 800-576-5007 Strategic areas of focus for fee income also expanded, with capital markets achieving record revenue, withstrong core performance plus the acquisition of Capstone. The call may be accessed via a live Internet webcast at the Investor Relations section of Huntington's website, www.huntington.com, or through a dial-in telephone number at (877)407-8029; Conference ID #13739594. A telephone replay will be available approximately two hours after the completion of the call through July29, 2023 at (877)660-6853 or (201)612-7415; conference ID #13739594. Sources: FactSet, Tullett Prebon, Commodities & Futures: Futures prices are delayed at least 10 minutes as per exchange requirements. Founded in 1866, Huntington . "The year was marked by the successful execution of key strategic initiatives and acquisition synergies which further expanded our capabilities and supported the achievement of our medium-term financial targets. Market Data copyright 2023 QuoteMedia. , Community Reinvestment Act Home Mortgage Disclosure Act. According to data from MarketBeat.com, Huntington Bancshares presently has a consensus rating of "Hold" and an average target price of $13.31. For complete information regarding our financials, see our periodic filings. We, Yahoo, are part of the Yahoo family of brands. "Credit continued to perform very well, with full-year net charge-offs of 11 basis points, well below our through-the-cycle target, and nonperforming assets declined for the sixth consecutive quarter. huntington bancshares incorporated is a $70 billion asset regional bank holding company headquartered in columbus, ohio, with a network of more than 750 branches and more than 1,500 atms across six midwestern states. Investment, Insurance and Non-deposit Trust products are: NOT A DEPOSIT NOT FDIC INSURED NOT GUARANTEED BY THE BANK NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY MAY LOSE VALUE. Allowance for credit losses (ACL) of $2.3 billion, or 1.90%, of total loans and leases at quarter end. In March 2012, the bank acquired Dearborn-based Fidelity Bank. July 21, 2023 at 07:15 am. Return on average assets was 1.41%, return on average common equity was 16.0%, return on average tangible common equity (ROTCE) was 26.0%. Log in to see them here or sign up to get started. Market capitalization is calculated by taking a companys share price and multiplying it by the total number of shares. Huntington Bancshares (HBAN) Stock Forecast, Price & News Huntington Bancshares Incorporated. The bank has a network of branches and ATMs across eight Midwestern states. [63][64][65], In June 2022, Huntington completed its acquisition of Capstone Partners, an investment bank and advisory firm based in Boston. 1 min read July 21 (Reuters) - Huntington Bancshares beat Wall Street estimates for second-quarter profit on Friday, as it earned more from rising interest rates and. Ending total deposits increased $2.7 billion from the prior quarter and $2.6billion from the year-ago quarter. Maintained solid credit quality with net charge-offs of 0.11% of average total loans and leases. The Huntington National Bank is an Equal Housing Lender and Member FDIC. Net interest income decreased $63 million, or 4%, from the prior quarter, and increased $85 million, or 7%, from the year-ago quarter. Lending products are subject to credit application and approval. Market Data copyright 2023 QuoteMedia. We want you to have a great experience while you're here. The Huntington National Bank is an Equal Housing Lender and Member FDIC. The Huntington National Bank is an Equal Housing Lender and Member FDIC. Huntington Bancshares Incorporated (Nasdaq: HBAN) is a $189 billion regional bank holding company headquartered in Columbus, Ohio, whose principal subsidiary is The Huntington National Bank. Which Is a Better Investment, Huntington Bancshares Incorporated or [20][21][22], In March 2006, the company acquired Unizan Financial. All Rights Reserved. A replay of the webcast will be archived in the Investor Relations section of Huntington's website. T: 614-480-2265. The Huntington Bancshares Incorporated stock price fell by -0.89% on the last day (Friday, 18th Aug 2023) from $11.24 to $11.14. Net charge-offs of 0.16% of average total loans and leases for the quarter. Huntington was ranked number one among regional banks in theJ.D. [50], In March 2014, the company acquired Ohio-based Camco Financial, holding company for Advantage Bank, for $97 million in stock. Huntington Preferred Capital had one subsidiary, HPCLI, Inc., a taxable REIT subsidiary formed in March 2001 for the purpose of holding certain assets (primarily leasehold improvements).
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