Announcement • 6h
Huntington Bancshares Incorporated Reports Net Charge Offs for the Second Quarter Ended June 30, 2026 Huntington Bancshares Incorporated reported net charge offs for the second quarter ended June 30, 2026. For the period, the company reported net charge-offs of $119 million compared to $66 million a year ago. Announcement • Apr 24
Huntington Bancshares Incorporated Declares Quarterly Cash Dividend, Payable on July 1, 2026 Huntington Bancshares Incorporated announced that the Board of Directors ("Board") declared a quarterly cash dividend on the company's common stock (Nasdaq: HBAN) of $0.155 per common share, unchanged from the prior quarter. The common stock cash dividend is payable July 1, 2026, to shareholders of record on June 17, 2026. Announcement • Apr 23
Huntington Bancshares Incorporated (NasdaqGS:HBAN) announces an Equity Buyback for $3,000 million worth of its shares. Huntington Bancshares Incorporated (NasdaqGS:HBAN) announces a share repurchase program. Under the program, the company will repurchase up to $3,000 million worth of its common shares. The repurchase program is subject to the Federal Reserve’s capital regulations. The repurchase program does not have an expiration date. Announcement • Mar 13
Huntington Bancshares Incorporated, Annual General Meeting, Apr 22, 2026 Huntington Bancshares Incorporated, Annual General Meeting, Apr 22, 2026. Location: meetnow.global/mc9uu7k, United States Announcement • Feb 12
Huntington Bancshares Incorporated Provides Earnings Guidance for the Fiscal Year 2027 Huntington Bancshares Incorporated provided earnings guidance for the fiscal year 2027. For the year, the company expects revenue to be approximately $12.6 billion. Earnings per share to be between $1.90 and $1.93. Announcement • Feb 02
Huntington Bancshares Incorporated Appoints Three New Directors Huntington Bancshares Incorporated announced that, in connection with the merger with Cadence Bank, its Board of Directors appointed three new directors, all former directors of Cadence Bank: James D. "Dan" Rollins III, Virginia Hepner, and Alice Rodriguez. James D. "Dan" Rollins III, Chairman and CEO of Cadence Bank, has joined Huntington as non-executive Vice Chairman of the Board of Directors of Huntington Bancshares Incorporated as well as a director of Huntington Bancshares Incorporated and The Huntington National Bank. Rollins had served as Chairman of Cadence Bank's Board since April 2014 and CEO of Cadence Bank since November 2012. Prior to those roles, Rollins served as president and Chief Operating Officer of Houston-based Prosperity Bancshares Inc. Throughout his four-decade banking career he also held leadership roles at Matagorda Banking Centers of Prosperity Bank, First State Bank and Trust Company. He also serves as chairman of the North Mississippi Health Services' board of directors and is a member of the finance committee and major gifts committee for the Healthcare Foundation of North Mississippi. Virginia Hepner is a retired banking executive and real estate investor who spent 25 years with Wachovia Bank (a Wells Fargo Company) in various leadership roles, including as Managing Director of U.S. Corporate Finance, the head of Foreign Exchange and Derivatives Trading, and Commercial Banking Director for Atlanta. She also serves on the boards of Oxford Industries Inc., National Vision Holdings Inc. and a number of nonprofit organizations. Alice Rodriguez is a retired banking executive who spent 35 years with JP Morgan Chase & Co in a variety of roles, including as Managing Director, Head of Community Impact and Regional Director, Consumer Banking and Wealth Management. She is Co-Owner of Kendall Milagro Inc., a Dallas-based boutique home builder and real estate investor. Rodriguez is Past Chair of the United States Hispanic Chamber of Commerce and serves on the boards of Oncor Holdings and a number of nonprofit organizations. Declared Dividend • Feb 01
Fourth quarter dividend of US$0.15 announced Shareholders will receive a dividend of US$0.15. Ex-date: 18th March 2026 Payment date: 1st April 2026 Dividend yield will be 2.8%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is well covered by earnings (44% payout ratio) and is expected to be well covered in 3 years' time (39% forecast payout ratio). The dividend has increased by an average of 10.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 35% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 24
Full year 2025 earnings released: EPS: US$1.41 (vs US$1.24 in FY 2024) Full year 2025 results: EPS: US$1.41 (up from US$1.24 in FY 2024). Revenue: US$7.70b (up 11% from FY 2024). Net income: US$2.09b (up 16% from FY 2024). Profit margin: 27% (up from 26% in FY 2024). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.13% (up from 3.00% in FY 2024). Cost-to-income ratio: 59.9% (down from 60.5% in FY 2024). Non-performing loans: 0.62% (up from 0.60% in FY 2024). Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Banks industry in South America. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Jan 23
Huntington Bancshares Incorporated Declares Quarterly Cash Dividends, Payable on April 1, 2026 Huntington Bancshares Incorporated announced that the Board of Directors declared a quarterly cash dividend on the company's common stock of $0.155 per common
share, unchanged from the prior quarter. The common stock cash dividend is payable April 1, 2026, to shareholders of record on March 18, 2026. Announcement • Jan 22
Huntington Bancshares Incorporated Reports Net Charge-Offs for the Fourth Quarter of 2025 Huntington Bancshares Incorporated reported net charge-offs for the fourth quarter of 2025. For the quarter, the company reported net charge-offs of 0.24% of average total loans and leases for the quarter, 2 basis points higher than the prior quarter and 6 basis points lower than the year ago quarter. Declared Dividend • Dec 10
Third quarter dividend of US$0.15 announced Shareholders will receive a dividend of US$0.15. Ex-date: 18th December 2025 Payment date: 2nd January 2026 Dividend yield will be 2.9%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is well covered by earnings (43% payout ratio) and is expected to be well covered in 3 years' time (35% forecast payout ratio). The dividend has increased by an average of 10.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 26% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 18
Huntington Bancshares Appoints Trent Holland as Its Regional President for North Carolina and South Carolina Huntington Bancshares announced that it has named Trent Holland as its regional president for North Carolina and South Carolina. Heath Campbell has been promoted from those duties after 14 months to executive managing director for Middle Market Banking in the Southeast. Huntington, based in Columbus, Ohio, is the 24th-largest U.S. financial institution by total assets, with $204.2 billion in assets as of September 30. Holland most recently served as the bank's senior managing director of Middle Market Banking in South Carolina. In his new role, Holland is responsible for "providing strategic leadership to all market teams and driving the growth of business and community relationships throughout the Carolinas," according to the bank. Campbell previously served as the N.C. West regional president of Truist Financial Corp. Campbell had been with BB&T Corp. and Truist for 20 years. Declared Dividend • Oct 26
Third quarter dividend of US$0.15 announced Shareholders will receive a dividend of US$0.15. Ex-date: 18th December 2025 Payment date: 2nd January 2026 Dividend yield will be 3.2%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is well covered by earnings (43% payout ratio) and is expected to be well covered in 3 years' time (38% forecast payout ratio). The dividend has increased by an average of 10.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 24% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 20
Third quarter 2025 earnings released: EPS: US$0.41 (vs US$0.33 in 3Q 2024) Third quarter 2025 results: EPS: US$0.41 (up from US$0.33 in 3Q 2024). Revenue: US$2.01b (up 15% from 3Q 2024). Net income: US$602.0m (up 25% from 3Q 2024). Profit margin: 30% (up from 27% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10.0% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Banks industry in South America. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Declared Dividend • Sep 06
Second quarter dividend of US$0.15 announced Shareholders will receive a dividend of US$0.15. Ex-date: 17th September 2025 Payment date: 1st October 2025 Dividend yield will be 2.8%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is well covered by earnings (45% payout ratio) and is expected to be well covered in 3 years' time (40% forecast payout ratio). The dividend has increased by an average of 10.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 23% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 14
Huntington Bancshares Incorporated (NasdaqGS:HBAN) agreed to acquire Veritex Holdings, Inc. (NasdaqGM:VBTX) for $1.8 billion. Huntington Bancshares Incorporated (NasdaqGS:HBAN) agreed to acquire Veritex Holdings, Inc. (NasdaqGM:VBTX) for $1.8 billion on July 13, 2025. Under the terms of the agreement, Huntington will issue 1.95 shares for each outstanding share of Veritex in a 100% stock transaction.
Upon conversion, Veritex teams and branches will operate under the Huntington Bank name and brand.
Malcolm Holland will join Huntington in a non-executive role as Chairman of Texas and continue his work to serve local customers and communities.
The transaction is subject to approval by regulatory board and Target's shareholders approval. The combination is expected to close early in the fourth quarter of 2025.
Evercore Inc. acted as financial advisor for Huntington Bancshares Incorporated. Commerce Street Capital, LLC acted as financial advisor for Huntington Bancshares Incorporated. Wachtell, Lipton, Rosen & Katz LLP acted as legal advisor for Huntington Bancshares Incorporated. Keefe, Bruyette & Woods, Inc. acted as financial advisor for Veritex Holdings, Inc. Sven Mickisch, Timothy Gaffney, Brian Christiansen, Collin Janus, Larry Moss, Ryan Stott, Jonathan Goldstein, Jamie Talbot, Krista McManus and Carleigh Rodriguez of Simpson Thacher & Bartlett LLP acted as legal advisor for Veritex Holdings, Inc. Declared Dividend • May 12
First quarter dividend of US$0.15 announced Shareholders will receive a dividend of US$0.15. Ex-date: 17th June 2025 Payment date: 1st July 2025 Dividend yield will be 3.2%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is well covered by earnings (47% payout ratio) and is expected to be well covered in 3 years' time (44% forecast payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 19% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 18
Huntington Bancshares Incorporated Declares Quarterly Cash Dividend, Payable on July 1, 2025 Huntington Bancshares Incorporated announced that the Board of Directors declared a quarterly cash dividend on the company's common stock of $0.155 per common share, unchanged from the prior quarter. The common stock cash dividend is payable July 1, 2025, to shareholders of record on June 17, 2025. Announcement • Mar 07
Huntington Bancshares Incorporated, Annual General Meeting, Apr 16, 2025 Huntington Bancshares Incorporated, Annual General Meeting, Apr 16, 2025. Location: meetnow.global/mssnhfg, United States Announcement • Jan 18
Huntington Bancshares Incorporated Declares Quarterly Cash Dividend on Common Stock, Payable on April 1, 2025 Huntington Bancshares Incorporated announced that the Board of Directors declared a quarterly cash dividend on the company's common stock of $0.155 per common share, unchanged from the prior quarter. The common stock cash dividend is payable April 1, 2025, to shareholders of record on March 18, 2025. Announcement • Jan 17
Huntington Bancshares Incorporated Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2024 Huntington Bancshares Incorporated reported net charge-offs for the fourth quarter ended December 31, 2024. For the quarter, the company reported net charge-offs of $97 million compared to $94 million a year ago. Declared Dividend • Oct 27
Third quarter dividend of US$0.15 announced Shareholders will receive a dividend of US$0.15. Ex-date: 18th December 2024 Payment date: 2nd January 2025 Dividend yield will be 3.0%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is covered by earnings (59% payout ratio) and is expected to be covered in 3 years' time (45% forecast payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 33% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Recent Insider Transactions • Oct 26
Senior EVP & Chief Risk Officer recently sold Mex$2.0m worth of stock On the 23rd of October, Helga Houston sold around 6k shares on-market at roughly Mex$308 per share. This transaction amounted to 1.1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth Mex$2.5m. Insiders have been net sellers, collectively disposing of Mex$72m more than they bought in the last 12 months. Announcement • Oct 18
Huntington Bancshares Incorporated Declares Quarterly Cash Dividends on Its Common Stock, Payable on January 2, 2025 Huntington Bancshares Incorporated announced that the Board of Directors declared a quarterly cash dividend on the company's common stock of $0.155 per common share, unchanged from the prior quarter. The common stock cash dividend is payable January 2, 2025, to shareholders of record on December 18, 2024. Reported Earnings • Oct 17
Third quarter 2024 earnings released: EPS: US$0.33 (vs US$0.35 in 3Q 2023) Third quarter 2024 results: EPS: US$0.33 (down from US$0.35 in 3Q 2023). Revenue: US$1.77b (flat on 3Q 2023). Net income: US$481.0m (down 5.7% from 3Q 2023). Profit margin: 27% (down from 29% in 3Q 2023). Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Banks industry in South America. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Jul 20
Huntington Bancshares Incorporated Declares Quarterly Cash Dividends on Its Common Stock, Payable on October 1, 2024 Huntington Bancshares Incorporated announced that the Board of Directors declared a quarterly cash dividend on the company's common stock of $0.155 per common share, unchanged from the prior quarter. The common stock cash dividend is payable October 1, 2024, to shareholders of record on September 17, 2024. Announcement • Apr 20
Huntington Bancshares Incorporated Declares Quarterly Dividend, Payable on July 1, 2024 Huntington Bancshares Incorporated declared a quarterly cash dividend on the company's common stock of $0.155 per common share, unchanged from the prior quarter. The common stock cash dividend is payable July 1, 2024, to shareholders of record on June 17, 2024. Announcement • Mar 09
Huntington Bancshares Incorporated, Annual General Meeting, Apr 17, 2024 Huntington Bancshares Incorporated, Annual General Meeting, Apr 17, 2024, at 14:00 US Eastern Standard Time. Agenda: To consider Election of Directors; to consider Advisory resolution to approve, on a non-binding basis, the compensation of executives as described in the proxy materials; to consider the Ratification of the appointment of PwC as independent registered public accounting firm for 2024; to consider Approval of the 2024 Long-Term Incentive Plan; and to consider other matters. Announcement • Jan 21
Huntington Bancshares Incorporated Provides Net Interest Income Guidance for the Year 2024 Huntington Bancshares Incorporated provided net interest income guidance for the year 2024. For the year, net interest income for the full year is expected to range between down 2% to up 2%. Announcement • Jan 20
Huntington Bancshares Incorporated Declares Quarterly Cash Dividend, Payable on April 1, 2024 Huntington Bancshares Incorporated announced that the Board of Directors declared a quarterly cash dividend on the company's common stock of $0.155 per common share, unchanged from the prior quarter. The common stock cash dividend is payable on April 1, 2024, to shareholders of record on March 18, 2024. Announcement • Jan 19
Huntington Bancshares Incorporated Announces Net Charge-Offs for the Fourth Quarter Ended December 31, 2023 Huntington Bancshares Incorporated Announces Net Charge-Offs for the Fourth Quarter Ended December 31, 2023. For the period, the company reported Net charge-offs of $94 million compared to $50 million a year ago. Announcement • Jan 11
Huntington Bancshares Incorporated Announces Executive Changes Huntington Bancshares Incorporated announced the retirement of Paul Heller, Chief Technology and Operations Officer, effective March 1, 2024. Heller has held the top technology role since joining Huntington in 2012. He is currently responsible for the bank's information technology, operations, digital, payments, and transformation initiatives. Heller's 38-year career includes holding numerous roles at JPMorgan Chase, including serving as managing director for the corporate internet group and chief technology officer for retail banking. Prior to banking, Heller worked for a decade in management consulting, beginning his career at Andersen Consulting specializing in financial services. In conjunction with Heller's retirement, effective March 1, 2024, Amit Dhingra, Chief Enterprise Payments Officer; Kendall Kowalski, Chief Information Officer; and Prashant Nateri, Chief Corporate Operations Officer, will all join Huntington's executive leadership team and report to Steinour. Dhingra has been with Huntington for nine years and holds prior experience with Proctor & Gamble, McKinsey & Company, and U.S. Bank throughout his 27-year career. Kowalski has been with Huntington for 10 years and has a total of 28 years in the industry, an alumnus of Accenture and JP Morgan Chase. Nateri is a 26-year industry veteran and has been with Huntington for 11 years, with prior experience with JP Morgan Chase and Cambridge Technology Partners. Announcement • Jan 05
Huntington Bancshares Incorporated to Report Q4, 2023 Results on Jan 19, 2024 Huntington Bancshares Incorporated announced that they will report Q4, 2023 results Pre-Market on Jan 19, 2024 Announcement • Oct 21
Press Release: Huntington Bancshares Incorporated Declares Quarterly Cash Dividends on Common Stocks, Payable January 2, 2024 Huntington Bancshares Incorporated announced that the Board of Directors declared a quarterly cash dividend on the company's common stock of $0.155 per common share, unchanged from the prior quarter. The common stock cash dividend is payable January 2, 2024, to shareholders of record on December 18, 2023. Reported Earnings • Jul 30
Second quarter 2023 earnings released: EPS: US$0.36 (vs US$0.35 in 2Q 2022) Second quarter 2023 results: EPS: US$0.36 (up from US$0.35 in 2Q 2022). Revenue: US$1.75b (up 4.2% from 2Q 2022). Net income: US$519.0m (up 1.6% from 2Q 2022). Profit margin: 30% (in line with 2Q 2022). Revenue is forecast to grow 1.0% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Banks industry in Mexico. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Jul 23
Huntington Bancshares Incorporated Declares Quarterly Cash Dividend, Payable on October 2, 2023 Huntington Bancshares Incorporated announced that its Board of Directors declared a quarterly cash dividend on the company's common stock of $0.155 per common share, unchanged from the prior quarter. The common stock cash dividend is payable on October 2, 2023, to shareholders of record on September 18, 2023. Announcement • May 25
Huntington Bancshares Incorporated Announces Board Appointments The Board of Directors of Huntington Bancshares Incorporated has unanimously elected Rafael Andres Diaz-Granados, Chairman and CEO of Paragon Integrated Services Group LLC, and John C. ("Chris") Inglis, former U.S. National Cyber Director, as members of the Board. Rafael Andres Diaz-Granados is a broadly seasoned executive and international leader. Since 2020, he has served as Chairman and CEO of Paragon. Diaz-Granados is also co-founder of Angeles Investors and currently serves as CEO of Cetan Investments based in Miami. Prior to joining Paragon, Diaz-Granados held multiple country, regional, and global leadership positions with the General Electric Company, including serving as General Counsel and Chief Commercial Officer of GE Latin America, CEO of GE Mexico, and CEO of GE Spain and Portugal. During his 15-year tenure with GE, Diaz-Granados led multiple turnaround and restructuring efforts and delivered strong top-line results. As a GE Quality Leader (GE's Six Sigma certification), he oversaw the GE Healthcare Six Sigma Center of Excellence. Prior to beginning his career at General Electric, Diaz-Granados was an attorney with O'Melveny & Myers, specializing in mergers and acquisitions. Diaz-Granados also has a wide variety of board leadership experiences, including serving as a director of the Puerto Rico Electric Power Authority, the Massachusetts Growth Capital Corporation, the Latino Corporate Directors Education Foundation, Q'Max Solutions, and as Chair of Trachte. He was also Executive Director of FIFARMA. Diaz-Granados earned his bachelor's degree in economics from Harvard University and his Juris Doctor from Georgetown University Law Center. Chris Inglis is a longtime American government official who most recently served as the first-ever U.S. National Cyber Director, a Senate-confirmed position for which he was unanimously confirmed in June 2021. Prior to this appointment, he served as a Commissioner on the U.S. Cyberspace Solarium Commission from 2019 to 2020 and as the Deputy Director and Chief Operating Officer of the National Security Agency, where he was employed for 28 years. He also served on Huntington's Board of Directors prior to assuming his role as National Cyber Director. Inglis has held a number of academic and advisory positions, including the Looker Professor of Cyber Studies at the U.S. Naval Academy, a principal at Paladin Capital, a member of the Department of Defense Science Board, a member of the U.S. Strategic Command Advisory Board, a member of the Penn State Advanced Research Lab advisory board, and a Trustee of the National Intelligence University. Inglis is a retired veteran pilot, with 30 years of experience in the U.S. Air Force and Air National Guard, attaining the rank of Brigadier General. Inglis holds advanced degrees in engineering and computer science from Columbia University, Johns Hopkins University, and George Washington University. Upcoming Dividend • Mar 10
Upcoming dividend of US$0.15 per share at 4.6% yield Eligible shareholders must have bought the stock before 17 March 2023. Payment date: 03 April 2023. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of Mexican dividend payers (6.0%). In line with average of industry peers (4.3%). Recent Insider Transactions • Feb 02
Lead Independent Director recently sold Mex$23m worth of stock On the 27th of January, David Porteous sold around 80k shares on-market at roughly Mex$282 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$76m more than they bought in the last 12 months. Reported Earnings • Jan 23
Full year 2022 earnings released: EPS: US$1.48 (vs US$0.91 in FY 2021) Full year 2022 results: EPS: US$1.48 (up from US$0.91 in FY 2021). Revenue: US$6.97b (up 17% from FY 2021). Net income: US$2.13b (up 84% from FY 2021). Profit margin: 31% (up from 19% in FY 2021). Net interest margin (NIM): 3.25% (up from 2.94% in FY 2021). Non-performing loans: 0.48% (down from 0.64% in FY 2021). Revenue is forecast to grow 5.6% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Banks industry in Mexico. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Jan 21
Huntington Bancshares Incorporated (NasdaqGS:HBAN) announces an Equity Buyback for $1,000 million worth of its shares. Huntington Bancshares Incorporated (NasdaqGS:HBAN) announces a share repurchase program. Under the program, the company will repurchase up to $1,000 million worth of its common shares. The repurchase program is subject to the Federal Reserve’s capital regulations. The repurchase program will be valid over the next eight quarters. Announcement • Dec 22
Huntington Bancshares Incorporated to Report Q4, 2022 Results on Jan 20, 2023 Huntington Bancshares Incorporated announced that they will report Q4, 2022 results Pre-Market on Jan 20, 2023 Recent Insider Transactions • Nov 10
CFO & Senior EVP recently sold Mex$8.4m worth of stock On the 7th of November, Zachary Wasserman sold around 28k shares on-market at roughly Mex$300 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Zachary's only on-market trade for the last 12 months. Recent Insider Transactions • Oct 28
Insider recently bought Mex$4.9m worth of stock On the 25th of October, Gary Torgow bought around 17k shares on-market at roughly Mex$293 per share. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold Mex$114m more in shares than they bought in the last 12 months. Reported Earnings • Oct 25
Third quarter 2022 earnings released: EPS: US$0.39 (vs US$0.23 in 3Q 2021) Third quarter 2022 results: EPS: US$0.39 (up from US$0.23 in 3Q 2021). Revenue: US$1.80b (up 2.3% from 3Q 2021). Net income: US$565.0m (up 70% from 3Q 2021). Profit margin: 32% (up from 19% in 3Q 2021). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Banks industry in Mexico. Upcoming Dividend • Sep 09
Upcoming dividend of US$0.15 per share Eligible shareholders must have bought the stock before 16 September 2022. Payment date: 03 October 2022. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of Mexican dividend payers (6.3%). Lower than average of industry peers (5.5%). Recent Insider Transactions • Jul 29
Insider recently bought Mex$5.1m worth of stock On the 27th of July, Gary Torgow bought around 19k shares on-market at roughly Mex$265 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold Mex$146m more in shares than they bought in the last 12 months. Reported Earnings • Jul 25
Second quarter 2022 earnings released: EPS: US$0.35 (vs US$0.052 loss in 2Q 2021) Second quarter 2022 results: EPS: US$0.35 (up from US$0.052 loss in 2Q 2021). Revenue: US$1.68b (up 56% from 2Q 2021). Net income: US$511.0m (up US$569.0m from 2Q 2021). Profit margin: 30% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 7.7%, compared to a 28% growth forecast for the industry in Mexico. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 09
Upcoming dividend of US$0.15 per share Eligible shareholders must have bought the stock before 16 June 2022. Payment date: 01 July 2022. Payout ratio is on the higher end at 77%, however this is supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of Mexican dividend payers (5.8%). Higher than average of industry peers (3.4%). Recent Insider Transactions • Jun 04
Insider recently sold Mex$7.7m worth of stock On the 31st of May, Helga Houston sold around 28k shares on-market at roughly Mex$272 per share. In the last 3 months, there was an even bigger sale from another insider worth Mex$7.8m. Insiders have been net sellers, collectively disposing of Mex$152m more than they bought in the last 12 months. Recent Insider Transactions • Apr 28
Lead Independent Director recently bought Mex$891k worth of stock On the 25th of April, David Porteous bought around 3k shares on-market at roughly Mex$275 per share. In the last 3 months, there was an even bigger purchase from another insider worth Mex$2.5m. Despite this recent purchase, insiders have collectively sold Mex$215m more in shares than they bought in the last 12 months. Reported Earnings • Apr 27
First quarter 2022 earnings released: EPS: US$0.30 (vs US$0.49 in 1Q 2021) First quarter 2022 results: EPS: US$0.30 (down from US$0.49 in 1Q 2021). Revenue: US$1.62b (up 14% from 1Q 2021). Net income: US$432.0m (down 14% from 1Q 2021). Profit margin: 27% (down from 35% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 15%, compared to a 30% growth forecast for the industry in Mexico. Recent Insider Transactions • Mar 24
Insider recently sold Mex$2.6m worth of stock On the 22nd of March, Scott Kleinman sold around 8k shares on-market at roughly Mex$314 per share. In the last 3 months, there was an even bigger sale from another insider worth Mex$6.9m. Insiders have been net sellers, collectively disposing of Mex$216m more than they bought in the last 12 months. Upcoming Dividend • Mar 11
Upcoming dividend of US$0.15 per share Eligible shareholders must have bought the stock before 17 March 2022. Payment date: 01 April 2022. Payout ratio is a comfortable 66% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Mexican dividend payers (5.3%). Higher than average of industry peers (1.9%). Reported Earnings • Feb 21
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$0.92 (up from US$0.70 in FY 2020). Revenue: US$5.96b (up 58% from FY 2020). Net income: US$1.16b (up 61% from FY 2020). Profit margin: 19% (in line with FY 2020). Net interest margin (NIM): 2.94% (down from 2.99% in FY 2020). Non-performing loans: 0.64% (down from 0.65% in FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 13%, compared to a 31% growth forecast for the banks industry in Mexico. Recent Insider Transactions • Feb 12
Independent Director recently bought Mex$2.5m worth of stock On the 8th of February, Kenneth Phelan bought around 8k shares on-market at roughly Mex$327 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold Mex$313m more in shares than they bought in the last 12 months. Upcoming Dividend • Dec 09
Upcoming dividend of US$0.15 per share Eligible shareholders must have bought the stock before 16 December 2021. Payment date: 03 January 2022. Payout ratio is a comfortable 66% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of Mexican dividend payers (5.1%). Higher than average of industry peers (1.9%). Recent Insider Transactions • Nov 18
Insider recently sold Mex$17m worth of stock On the 11th of November, Rajeev Syal sold around 53k shares on-market at roughly Mex$328 per share. In the last 3 months, there was an even bigger sale from another insider worth Mex$57m. Insiders have been net sellers, collectively disposing of Mex$320m more than they bought in the last 12 months. Recent Insider Transactions • Nov 12
Insider recently sold Mex$17m worth of stock On the 3rd of November, Michael Jones sold around 50k shares on-market at roughly Mex$335 per share. In the last 3 months, there was an even bigger sale from another insider worth Mex$57m. Insiders have been net sellers, collectively disposing of Mex$303m more than they bought in the last 12 months. Recent Insider Transactions • Nov 05
Key Executive recently sold Mex$57m worth of stock On the 1st of November, Paul Heller sold around 173k shares on-market at roughly Mex$332 per share. This was the largest sale by an insider in the last 3 months. Paul has been a seller over the last 12 months, reducing personal holdings by Mex$75m. Reported Earnings • Oct 30
Third quarter 2021 earnings released: EPS US$0.23 (vs US$0.27 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: US$1.76b (up 64% from 3Q 2020). Net income: US$333.0m (up 21% from 3Q 2020). Profit margin: 19% (down from 26% in 3Q 2020). The decrease in margin was driven by higher expenses. Recent Insider Transactions • Oct 23
Senior EVP & General Counsel recently sold Mex$2.0m worth of stock On the 21st of October, Jana Litsey sold around 6k shares on-market at roughly Mex$340 per share. In the last 3 months, there was an even bigger sale from another insider worth Mex$14m. Insiders have been net sellers, collectively disposing of Mex$239m more than they bought in the last 12 months. Recent Insider Transactions • Oct 09
Insider recently sold Mex$70k worth of stock On the 4th of October, Rajeev Syal sold around 213 shares on-market at roughly Mex$329 per share. In the last 3 months, there was an even bigger sale from another insider worth Mex$14m. Insiders have been net sellers, collectively disposing of Mex$236m more than they bought in the last 12 months. Recent Insider Transactions • Aug 26
Senior EVP & Chief Risk Officer recently sold Mex$9.4m worth of stock On the 20th of August, Helga Houston sold around 31k shares on-market at roughly Mex$300 per share. In the last 3 months, there was an even bigger sale from another insider worth Mex$27m. Insiders have been net sellers, collectively disposing of Mex$236m more than they bought in the last 12 months. Reported Earnings • Jul 31
Second quarter 2021 earnings released: US$0.013 loss per share (vs US$0.13 profit in 2Q 2020) The company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: US$1.07b (up 25% from 2Q 2020). Net loss: US$15.0m (down 112% from profit in 2Q 2020). Executive Departure • Jun 24
Independent Director John Inglis has left the company On the 21st of June, John Inglis' tenure as Independent Director ended after 5.1 years in the role. As of March 2021, John still personally held 7.14k shares (Mex$2.5m worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 7.54 years. Recent Insider Transactions • May 04
Insider recently sold Mex$469k worth of stock On the 29th of April, Rajeev Syal sold around 2k shares on-market at roughly Mex$311 per share. In the last 3 months, there was an even bigger sale from another insider worth Mex$56m. Insiders have been net sellers, collectively disposing of Mex$144m more than they bought in the last 12 months. Reported Earnings • Apr 26
First quarter 2021 earnings released: EPS US$0.49 (vs US$0.029 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$1.43b (up 102% from 1Q 2020). Net income: US$501.0m (up US$471.0m from 1Q 2020). Profit margin: 35% (up from 4.2% in 1Q 2020). The increase in margin was driven by higher revenue. Upcoming Dividend • Mar 10
Upcoming Dividend of US$0.15 Per Share Will be paid on the 1st of April to those who are registered shareholders by the 17th of March. The trailing yield of 3.6% is below the top quartile of Mexican dividend payers (5.0%), but it is higher than industry peers (2.5%). Recent Insider Transactions • Mar 07
Insider recently sold Mex$650k worth of stock On the 3rd of March, Rajeev Syal sold around 2k shares on-market at roughly Mex$332 per share. In the last 3 months, there was an even bigger sale from another insider worth Mex$56m. Insiders have been net sellers, collectively disposing of Mex$144m more than they bought in the last 12 months. Reported Earnings • Feb 28
Full year 2020 earnings released: EPS US$0.70 (vs US$1.29 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: US$3.77b (down 14% from FY 2019). Net income: US$717.0m (down 46% from FY 2019). Profit margin: 19% (down from 31% in FY 2019). Net interest margin (NIM): 2.99% (down from 3.26% in FY 2019). Non-performing loans: 0.65% (up from 0.62% in FY 2019). Recent Insider Transactions • Feb 28
Insider recently sold Mex$56m worth of stock On the 23rd of February, Sandra Pierce sold around 173k shares on-market at roughly Mex$323 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$143m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment improved over the past week After last week's 29% share price gain to US$347, the stock is trading at a trailing P/E ratio of 23x, up from the previous P/E ratio of 17.8x. This compares to an average P/E of 8x in the Banks industry in Mexico. Recent Insider Transactions • Feb 07
Key Executive recently sold Mex$18m worth of stock On the 3rd of February, Paul Heller sold around 65k shares on-market at roughly Mex$274 per share. This was the largest sale by an insider in the last 3 months. Paul has been a seller over the last 12 months, reducing personal holdings by Mex$27m. Reported Earnings • Jan 23
Full year 2020 earnings released: EPS US$0.70 The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: US$3.77b (down 14% from FY 2019). Net income: US$717.0m (down 46% from FY 2019). Profit margin: 19% (down from 31% in FY 2019). The decrease in margin was driven by lower revenue. 
