Huntington Bancshares Incorporated 5.70% Series I Non-Cumulative Perpetual Preferred Stock (HBANM)
NASDAQ (NGS) NASDAQ (NGS) Primary 
Huntington Bancshares: Interest Rate Pressures Reduce Upside
Huntington Bancshares Incorporated faces margin and growth headwinds from higher rates but maintains a solid strategic footprint after recent M&A-driven expansion. Huntington Bancshares cut its 2027 earnings outlook and net interest income growth, reflecting rising deposit costs and slower loan growth, especially in new markets. Adjusted CET1 capital is adequate but not excessive; buybacks could slow if rates rise further, though the 4.1% dividend remains secure.
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.
