What is the Huntington Bancshares Net Worth/ Market Cap in 2024: Finance Performance Overview

What is the Huntington Bancshares Net Worth/ Market Cap in 2024: Finance Performance Overview

Learn about Huntington Bancshares net worth and financial standing in 2024. Ando Money provides a comprehensive overview of this prominent bank’s performance.

Quick Facts

NameHuntington Bancshares
Full NameHuntington Bancshares Incorporated
Traded asNasdaq: HBAN
FoundersP.W. Huntington
Country/TerritoryUnited States
HeadquartersColumbus, Ohio
Chief Executive OfficerStephen D. Steinour
Number of Employees25,693
Market Cap$18.42 billion
Total Assets$189 billion
Total Equity$12.993 billion
Revenue$4.815 billion (2020)
Net Income$419 million (Q1 2024)

What is the Net Worth/ Market Cap Of Huntington Bancshares in 2024?

What is the Net Worth/ Market Cap Of Huntington Bancshares in 2024?

Huntington Bancshares has a market cap of $18.42 billion in 2024. This positions it well within the competitive landscape of regional banks in the United States.

For context, Ally Financial has a market cap of $10.53 billion, and Citizens Financial Group stands at $15.45 billion. This comparison highlights Huntington Bancshares’ significant market presence and its competitive stance in the financial sector.

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With total assets amounting to $189 billion, Huntington demonstrates robust financial health, underpinning its market capitalization and providing a solid foundation for future growth.

Huntington Bancshares Financial Performance Overview

Huntington Bancshares Financial Performance Overview

Huntington Bancshares, founded in 1866, has grown into a major player in the banking industry. The company is headquartered in Columbus, Ohio, and operates primarily in the Midwest.

Led by CEO Stephen D. Steinour, Huntington manages a vast network of branches and a substantial portfolio of financial services.

Financial Performance and Earnings

The company’s financial performance in the first quarter of 2024 was notable.

Earnings per common share (EPS) for the quarter were $0.26, showing an increase of $0.11 from the previous quarter but a decrease of $0.13 from the same quarter the previous year.

Excluding notable items, the adjusted earnings per share were $0.28. The net income for the first quarter stood at $419 million, reflecting a strong earnings performance.

Asset Management and Valuation

Huntington Bancshares’ total assets reached $189 billion, showcasing its substantial growth and asset management capabilities.

The company’s asset base has expanded through strategic acquisitions and organic growth.

The quality of asset management is evident in the steady increase in asset valuation and the effective handling of the loan and lease portfolios.

Revenue Streams and Growth

The revenue of Huntington is driven by multiple streams, including net interest income and noninterest income.

Net interest income for the first quarter decreased by $29 million from the prior quarter but remained a significant contributor to the overall revenue.

Noninterest income, which includes fees and service charges, increased by $62 million, highlighting the bank’s diversified revenue sources.

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Deposit Growth and Management

Deposit growth has been a key strength for Huntington Bancshares. Average total deposits increased by $1.1 billion from the prior quarter and $4.6 billion from the year-ago quarter.

The ending total deposits saw an increase of $2.0 billion from the prior quarter, reflecting strong consumer confidence and effective deposit management strategies.

Loan Portfolio and Performance

The loan portfolio of Huntington showed robust growth, with average total loans and leases increasing by $701 million from the prior quarter.

The portfolio includes a mix of commercial and consumer loans, both of which have shown positive growth trends.

This growth in loans contributes significantly to the bank’s net worth and overall financial stability.

Credit Quality and Risk Management

Maintaining high credit quality is a priority for Huntington. The net charge-offs for the quarter were 0.30% of average total loans and leases, indicating effective risk management.

The nonperforming asset ratio stood at 0.60%, and the allowance for credit losses (ACL) was $2.4 billion, or 1.97% of total loans and leases, demonstrating a prudent approach to credit risk.

Capital and Equity Analysis

The Common Equity Tier 1 (CET1) ratio of Huntington Bancshares remained stable at 10.2%, reflecting strong capital adequacy.

The tangible common equity (TCE) ratio was 6.0%, showing a modest decrease from the prior quarter but an increase of 20 basis points from the previous year.

These metrics underscore the bank’s solid capital foundation and financial resilience.

Awards and Recognitions

Huntington has been recognized for its excellence in the banking sector.

It received seven awards from Coalition Greenwich for 2023, acknowledging its performance in middle market and business banking.

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Additionally, Newsweek named Huntington one of America’s 500 Most Responsible Companies for the fifth consecutive year, reflecting its commitment to responsible banking practices.

Strategic Initiatives and Future Outlook

Looking ahead, Huntington is poised for continued growth.

The bank is investing in new revenue-producing opportunities and expanding its market presence in regions like the Carolinas and Texas.

These strategic initiatives are expected to drive further growth in deposits and loans, supporting the bank’s revenue and profitability outlook for the coming years.

FAQs about Huntington Bancshares

FAQs about Huntington Bancshares

Where is Huntington Bancshares headquartered?

Huntington is headquartered in Columbus, Ohio.

What types of services does Huntington Bancshares offer?

The bank offers personal banking, small business banking, commercial banking, wealth management, risk management products, vehicle and equipment finance, national settlement, and capital markets services.

How many branches and ATMs does Huntington operate?

Huntington operates over 1,100 branches and more than 1,300 ATMs across 12 states, primarily in the Midwest.

What is Huntington’ commitment to community development?

Huntington invests in affordable housing, economic development, and neighborhood revitalization projects to enhance community quality of life.

How has Huntington performed in terms of small business lending?

Huntington is a leading SBA lender, supporting small businesses with crucial financial resources across its footprint.

What digital innovations has Huntington implemented?

Huntington invests in online and mobile banking technologies to improve accessibility and efficiency for customers.

How does Huntington support diversity and inclusion?

Huntington fosters an inclusive work environment and promotes equal opportunities for all employees through various initiatives.

What recognitions has Huntington received?

Huntington has received numerous awards for customer satisfaction, workplace culture, and community involvement.


Huntington Bancshares net worth and financial performance in 2024 highlight its strong market position. For more insights, visit andomoney.com.

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