Huntington Bancshares Incorporated 5.70% Series I Non-Cumulative Perpetual Preferred Stock (HBANM)
NASDAQ (NGS) NASDAQ (NGS) Primary Summary
Huntington Bancshares Preferreds Update: Rating Changes
Huntington Bancshares Incorporated preferred stock offerings HBANL, HBANM, and HBANP are reviewed for yield, call protection, and risk. HBANL offers a 6.875% coupon with call protection until 2028, making it attractive for income-focused investors, though YTC is only 5.7%. HBANM is callable now and offers a 5.7% coupon; it would be called before HBANL due to its lower coupon.
Preferred Stocks To Sell (Part 5): Huntington Bancshares' HBANM And HBANP
Huntington Bancshares' preferred stocks HBANM and HBANP are overvalued, offering unattractive yields relative to their credit quality and sector peers. Despite stable financials and solid dividend coverage, HBAN's preferreds have tightened credit spreads excessively compared to the company's senior debt. Current yields on HBAN's preferreds are about 6.4%, but fair value would require yields closer to 7.2%, implying significant downside to current prices.
Huntington Bancshares Incorporated (HBAN) Q3 2024 Earnings Call Transcript
Huntington Bancshares Incorporated (NASDAQ:HBAN ) Q3 2024 Earnings Conference Call October 17, 2024 9:00 AM ET Company Participants Tim Sedabres - Director, Investor Relations Steve Steinour - Chairman, President and CEO Zach Wasserman - Chief Financial Officer Brendan Lawlor - Chief Credit Officer Conference Call Participants Manan Gosalia - Morgan Stanley Ebrahim Poonawala - Bank of America Jon Arfstrom - RBC Capital Markets Erika Najarian - UBS Matt O'Connor - Deutsche Bank Sean Sorahan - Evercore ISI Operator Greetings, and welcome to the Huntington Bancshares 2024 Third Quarter Earnings Review. At this time, all participants will be in a listen-only mode.
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Huntington Bancshares Incorporated 5.70% Series I Non-Cumulative Perpetual Preferred Stock Profile
| Banks Industry | Financials Sector | Stephen D. Steinour CEO | NASDAQ (NGS) Exchange | 446150781 CUSIP |
| US Country | 20,092 Employees | 14 Aug 2026 Last Dividend | - Last Split | - IPO Date |
Overview
Huntington Bancshares Incorporated is a prominent bank holding company that underpins The Huntington National Bank in the United States. Established in 1866 and headquartered in Columbus, Ohio, it delivers a comprehensive suite of commercial, consumer, and mortgage banking services across the country. Huntington Bancshares Incorporated caters to a wide array of customer needs, spanning from everyday consumers to businesses, offering a vast range of financial products and services designed to aid in managing wealth, facilitating loans, and ensuring financial stability and growth for its clients.
Products and Services
- 24-hour grace, Asterisk-Free Checking, Money Scout, $50 Safety Zone, Standby Cash, Early Pay, Instant Access, Savings Goal Getter, and Huntington Heads Up – These products represent Huntington's commitment to offering digitally powered financial solutions tailored to enhance consumer banking experiences. Designed to make banking more accessible and convenient, these services include overdraft grace periods, no-fee checking accounts, automated saving tools, lines of credit for unexpected expenses, early direct deposit, instant account access, and personalized savings goals, along with alerts and insights to manage finances effectively.
- Consumer and Business Lending – Includes both direct and indirect consumer loans, dealer finance loans and deposits, addressing the needs for personal loans, auto financing, and business capital through an extensive range of lending products. These services are focused on providing financial support for various consumer purchases and business investments.
- Investment Management and Wealth Management – Offering services such as private banking, trust and fiduciary administration, investment and portfolio management, institutional custody, and retail brokerage. These comprehensive wealth management solutions are designed to assist customers in achieving their financial objectives, from wealth accumulation to legacy planning.
- Equipment Financing, Asset-Based Lending, Distribution Finance, Structured Lending, and Municipal Financing Solutions – Cater to the unique financing needs of businesses across different sectors, providing specialized lending solutions that support equipment purchase, supply chain financing, and public sector projects.
- Huntington ChoicePay – A tailored payment solution that enables businesses to optimize their payment processes and cash flow management, demonstrating Huntington’s commitment to offering innovative financial services that cater to the evolving needs of its customers.
- Treasury Management and Payment Services – Includes lending, liquidity, treasury management, and other payment-related services, helping businesses manage their finances efficiently. These services are essential for operational stability, cash management, and facilitating smooth financial transactions for corporate clients.
- Capital Markets – Offers government and non-profits, healthcare, technology, telecommunications, franchises, financial sponsors, and global services, alongside corporate risk management, institutional sales and trading, and advisory services. These services are intended for entities seeking to navigate the complexities of capital markets, including debt and equity issuance and strategic financial advisory.
