Latest news with #HuntingtonBancshares
Yahoo
15-05-2025
- Business
- Yahoo
Huntington makes commercial banking push in Florida
Huntington Bancshares is joining a wave of out-of-state banks that are seeking to take advantage of Florida's growing economy. The Columbus, Ohio-based bank announced Thursday that it will continue to expand its footprint, starting with middle-market services anchored in Fort Lauderdale. Huntington's commercial banking push in Florida follows major investments to scale its business in North Carolina, South Carolina and Texas. Heath Campbell, regional president of the Carolinas region, told American Banker that the company's latest bet on a new state was opportunistic. Huntington was able to bring on a two-person middle-market banking team to kickstart its services in the Sunshine State, according to Campbell, who's overseeing the bank's Florida's strategy. "If I'd have thought back several months ago, I don't know that I said, 'Man, we're ready for Florida,'" Campbell said. "But all of a sudden, two amazing leaders emerged, and it became obvious very quickly, not just with me, but the executive leadership team, that this is the right time." Huntington Chairman and CEO Steve Steinour has been vocal about the bank's focus on playing offense with its investments. He said in January that the bank's priority was organic growth by entering new markets and niches. "We really like this equation," Steinour said at the time. "We believe we have significant core opportunities for growth, as well as with these new investments, and we're very focused on that. The business is performing exceptionally well." To roll out the Florida business, Huntington hired two long-time bankers from Truist Financial, where Campbell also worked until 2023. Josh Sheradsky, who's been a middle-market banker in South Florida for more than 10 years, will lead Huntington's efforts in the state. Monica Olsen joined the team as a senior executive relationship manager. Huntington said the group will also aim to connect middle-market clients in Florida with the bank's other offerings, like wealth management and investment banking. Huntington operates a private banking office in Naples, Florida. Specific growth goals for the Florida team are still under wraps, but Campbell said Huntington has "plenty to harvest" from the investments it's made. "We're entering with a middle-market banking strategy," Campbell said. "That's what we're focused on today. As this strategy unfolds, we'll see where that journey takes us." As Huntington looks to expand, it makes sense to jump on regions that are seeing stronger population growth and bigger GDP gains, Campbell said. Still, the bank didn't cast a net toward Florida until it found the right team to hire. "As we look at all those markets that have compelling demographics, population, economy, growth and scale, those are always going to be nationally attractive for financial services to enter," Campbell said. "I think it's really neat to work for an organization that says, 'Let's start with the people.'" But Huntington will be one of many fish in the seaside state. Since the COVID-19 pandemic, Florida has become a hot spot for businesses looking to migrate. Banks of various sizes from around the country have followed suit. JPMorgan Chase, Citizens Financial Group, First Horizon Corp. and Vista Bancshares are just some of the lenders that recently made plays to capture more market share in the state. "Florida has continually, especially South Florida, been the most competitive banking market," Hope Dmuchowski, chief financial officer at First Horizon, said during an industry conference in March. She said Memphis, Tennessee-based First Horizon was still seeing strong performance in the market. Citizens Chief Financial Officer John Woods said at the same conference that his bank's efforts to capture more market share in Florida and California would help the bank to hit its profitability targets. The Ohio bank's buildout in Florida mirrors the blueprint it used to bolster operations in Texas last year. In February 2025, the bank said it expects the Lone Star State business, which operates offices in Dallas and Houston, to be profitable within the next 12 months. The $210 billion-asset company bank also made moves to roll out operations in North Carolina and South Carolina at the end of 2023. The play in the Carolinas marked the first time Huntington had taken on a geographic expansion outside of an acquisition, Campbell said. Less than a year after launching, the Carolinas business hit profitability. Huntington said last fall that it would open 55 branches across the two states. Huntington has also worked to revamp its legacy Midwestern markets and build out industry verticals such as fund finance, Native American financial services and aerospace and defense. During the first quarter, loan growth from the additional verticals and the new geographies totaled $1.3 billion, or about half of the bank's total loan growth. Steinour said in April that he expected the bank's lending momentum to carry over into the spring and summer. "We are more optimistic than some, maybe many," Steinour told American Banker at the time. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21-04-2025
- Business
- Yahoo
Dividend Stocks To Consider In April 2025
As the United States market grapples with significant volatility due to persistent tariff concerns and tensions over Federal Reserve leadership, investors are seeking stability amid the turbulence. In such uncertain times, dividend stocks can offer a reliable income stream and potential for long-term growth, making them an attractive option for those looking to navigate these challenging market conditions. Name Dividend Yield Dividend Rating Columbia Banking System (NasdaqGS:COLB) 6.49% ★★★★★★ Interpublic Group of Companies (NYSE:IPG) 5.51% ★★★★★★ Regions Financial (NYSE:RF) 5.18% ★★★★★★ OceanFirst Financial (NasdaqGS:OCFC) 5.08% ★★★★★★ First Interstate BancSystem (NasdaqGS:FIBK) 7.23% ★★★★★★ Peoples Bancorp (NasdaqGS:PEBO) 5.75% ★★★★★★ Southside Bancshares (NYSE:SBSI) 5.22% ★★★★★★ Dillard's (NYSE:DDS) 8.08% ★★★★★★ Citizens & Northern (NasdaqCM:CZNC) 5.94% ★★★★★★ Ennis (NYSE:EBF) 5.34% ★★★★★★ Click here to see the full list of 170 stocks from our Top US Dividend Stocks screener. Underneath we present a selection of stocks filtered out by our screen. Simply Wall St Dividend Rating: ★★★★★★ Overview: BCB Bancorp, Inc. is the bank holding company for BCB Community Bank, offering a range of banking products and services to businesses and individuals in the United States, with a market cap of $162.36 million. Operations: BCB Bancorp, Inc. generates revenue primarily through its banking segment, which accounts for $83.39 million. Dividend Yield: 6.8% BCB Bancorp offers a high dividend yield of 6.77%, placing it in the top 25% of US dividend payers, with stable and growing payouts over the past decade. Its dividends are well-covered by earnings, with a current payout ratio of 64.8% and forecasted to improve to 40.1%. Despite recent declines in net income, BCBP trades at a significant discount to its estimated fair value and maintains strong relative value compared to peers. Delve into the full analysis dividend report here for a deeper understanding of BCB Bancorp. Our comprehensive valuation report raises the possibility that BCB Bancorp is priced lower than what may be justified by its financials. Simply Wall St Dividend Rating: ★★★★★☆ Overview: Huntington Bancshares Incorporated is a bank holding company for The Huntington National Bank, offering commercial, consumer, and mortgage banking services in the United States with a market cap of $19.91 billion. Operations: Huntington Bancshares generates revenue through its diverse banking services, including commercial, consumer, and mortgage banking in the United States. Dividend Yield: 4.5% Huntington Bancshares maintains reliable dividend payments, supported by a low payout ratio of 47%, ensuring coverage by earnings. Recent dividends include a quarterly cash dividend of $0.155 per common share and multiple preferred stock dividends. The company reported strong financial performance with net income rising to US$527 million in Q1 2025 from US$419 million the previous year. Although its 4.54% yield is below top-tier payers, it trades significantly below estimated fair value, enhancing its investment appeal for dividend-focused portfolios. Click here to discover the nuances of Huntington Bancshares with our detailed analytical dividend report. According our valuation report, there's an indication that Huntington Bancshares' share price might be on the cheaper side. Simply Wall St Dividend Rating: ★★★★★☆ Overview: United Community Banks, Inc. is a bank holding company for United Community Bank, offering financial products and services across various sectors in the United States with a market cap of approximately $2.96 billion. Operations: United Community Banks, Inc. generates its revenue primarily through its Community Banking segment, which accounted for $901.17 million. Dividend Yield: 3.9% United Community Banks offers a stable dividend with a low payout ratio of 46%, ensuring coverage by earnings, and is forecast to remain sustainable at 37.6% in three years. The recent quarterly dividend of $0.24 per share underscores its reliability over the past decade, despite yielding lower than top-tier payers at 3.87%. Strong financial results for 2024, including net income growth to US$252.4 million, bolster its position as an appealing choice for dividend investors. Click here and access our complete dividend analysis report to understand the dynamics of United Community Banks. Upon reviewing our latest valuation report, United Community Banks' share price might be too pessimistic. Get an in-depth perspective on all 170 Top US Dividend Stocks by using our screener here. Hold shares in these firms? Setup your portfolio in Simply Wall St to seamlessly track your investments and receive personalized updates on your portfolio's performance. Streamline your investment strategy with Simply Wall St's app for free and benefit from extensive research on stocks across all corners of the world. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqGM:BCBP NasdaqGS:HBAN and NYSE:UCB. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
Yahoo
17-04-2025
- Business
- Yahoo
Huntington Bancshares (HBAN) Earnings Expected to Grow: Should You Buy?
Huntington Bancshares (HBAN) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2025. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on April 17. On the other hand, if they miss, the stock may move lower. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. This regional bank holding company is expected to post quarterly earnings of $0.31 per share in its upcoming report, which represents a year-over-year change of +10.7%. Revenues are expected to be $1.9 billion, up 7.3% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 1.78% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts. Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For Huntington Bancshares, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -2.16%. On the other hand, the stock currently carries a Zacks Rank of #3. So, this combination makes it difficult to conclusively predict that Huntington Bancshares will beat the consensus EPS estimate. Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that Huntington Bancshares would post earnings of $0.31 per share when it actually produced earnings of $0.34, delivering a surprise of +9.68%. Over the last four quarters, the company has beaten consensus EPS estimates four times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Huntington Bancshares doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Another stock from the Zacks Banks - Midwest industry, Commerce Bancshares (CBSH), is soon expected to post earnings of $0.93 per share for the quarter ended March 2025. This estimate indicates a year-over-year change of +8.1%. Revenues for the quarter are expected to be $415.93 million, up 4.5% from the year-ago quarter. Over the last 30 days, the consensus EPS estimate for Commerce has been revised 0.8% down to the current level. Nevertheless, the company now has an Earnings ESP of 0.54%, reflecting a higher Most Accurate Estimate. When combined with a Zacks Rank of #3 (Hold), this Earnings ESP indicates that Commerce will most likely beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Huntington Bancshares Incorporated (HBAN) : Free Stock Analysis Report Commerce Bancshares, Inc. (CBSH) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Reuters
17-04-2025
- Business
- Reuters
Huntington's Q1 profit rises as Fed rate cuts temper deposit costs
April 17 (Reuters) - Huntington Bancshares (HBAN.O), opens new tab reported a rise in its first-quarter profit on Thursday, helped by higher interest income due to multiple rate cuts by the U.S. Federal Reserve at the end of last year that lowered deposit costs and helped loan growth. Shares of the bank rose 1.73% in trading before the bell. recession, prompting the bank to set aside a bigger buffer to cover loans that might not be repaid. Huntington's provision for credit losses was $115 million, higher than $107 million from a year earlier. Its net interest income - the difference between what a bank earns as interest on loans and pays out on deposits - jumped to $1.43 billion in the first quarter, compared with $1.29 billion a year earlier. "Our first-quarter results were highlighted by continued profit growth driven by increased loans and deposits, expanded net interest margin, growth of fee revenues and rigorous expense management," Chairman and CEO Steve Steinour said. The bank now expects record full-year NII to rise between 5% and 7%, reflecting lower deposit pricing and continued earning asset growth. It had earlier forecast a rise of between 4% and 6% in 2025 interest income. Its capital markets and advisory fees climbed 20% to $67 million in the quarter ended March 31, while wealth and asset management revenue rose 15% to $101 million. Net income attributable to the bank rose $527 million, or 34 cents per share, from $419 million, or 26 cents per share, a year earlier. Huntington's stock has lost nearly 18.4% this year, compared to a drop of 10.3% in the benchmark S&P 500 index (.SPX), opens new tab in the same period.
Yahoo
17-04-2025
- Business
- Yahoo
Huntington's Q1 profit rises as Fed rate cuts temper deposit costs
(Reuters) - Huntington Bancshares reported a rise in its first-quarter profit on Thursday, helped by higher interest income due to multiple rate cuts by the U.S. Federal Reserve at the end of last year that lowered deposit costs and helped loan growth. Shares of the bank rose 1.73% in trading before the bell. U.S. President Donald Trump's trade policies have sparked concerns about rising inflation and a potential recession, prompting the bank to set aside a bigger buffer to cover loans that might not be repaid. Huntington's provision for credit losses was $115 million, higher than $107 million from a year earlier. Its net interest income - the difference between what a bank earns as interest on loans and pays out on deposits - jumped to $1.43 billion in the first quarter, compared with $1.29 billion a year earlier. "Our first-quarter results were highlighted by continued profit growth driven by increased loans and deposits, expanded net interest margin, growth of fee revenues and rigorous expense management," Chairman and CEO Steve Steinour said. The bank now expects record full-year NII to rise between 5% and 7%, reflecting lower deposit pricing and continued earning asset growth. It had earlier forecast a rise of between 4% and 6% in 2025 interest income. Its capital markets and advisory fees climbed 20% to $67 million in the quarter ended March 31, while wealth and asset management revenue rose 15% to $101 million. Net income attributable to the bank rose $527 million, or 34 cents per share, from $419 million, or 26 cents per share, a year earlier. Huntington's stock has lost nearly 18.4% this year, compared to a drop of 10.3% in the benchmark S&P 500 index in the same period.
