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HU3 - Huntington Bancshares Inc News Story

€7.55 -0.2  -2.0%

Last Trade - 7:05am

Sector
Financials
Size
Large Cap
Market Cap £7.10bn
Enterprise Value £15.20bn
Revenue £3.67bn
Position in Universe 118th / 1041

FACTBOX-U.S. banks announce buybacks, dividend hikes after stress test results

Fri 29th June, 2018 3:27pm
June 29 (Reuters) - Several U.S. banks announced share
buybacks and dividend hikes after the Federal Reserve approved
their capital plans following an annual stress test used by the
central bank to evaluate capital planning abilities.
    Capital plans of household names such as JPMorgan Chase & Co
 JPM.N , Citigroup Inc  C.N , Bank of America Corp  BAC.N  and
Wells Fargo & Co  WFC.N , as well as major regional lenders like
Capital One Financial Corp  COF.N  and PNC Financial Services
Group Inc  PNC.N  were approved by the Fed on Thursday.
    German lender Deutsche Bank AG's  DBKGn.DE  U.S. subsidiary
was the only one to fail the test due to "widespread and
critical deficiencies" in the bank's capital planning controls.
 urn:newsml:reuters.com:*:nL1N1TU21A
    The Fed also placed conditions on three banks - Goldman
Sachs Group Inc  GS.N , Morgan Stanley  MS.N  and State Street
Corp  STT.N  - that passed the test
    Following is a list of banks that have announced share
buyback and dividend hikes after the stress test results: 
    
 Company         RIC       Dividend/shr       Buyback raised 
                           raised             
 Wells Fargo      WFC.N    To $0.43 from      Up to $24.5 bln
                           $0.39              
 JPMorgan Chase   JPM.N    To $0.80 from      Up to $20.7 bln
 & Co                      $0.56              
 Goldman Sachs    GS.N     To $0.85 from      Up to $5.0 bln 
                           $0.80              
 Citigroup        C.N      To $0.45 from      Up to $17.6 bln
                           $0.32              
 Morgan Stanley   MS.N     To $0.30 from      Up to $4.7 bln
                           $0.25              
 Bank Of          BAC.N    By 25 pct to       Up to $20.6 bln
 America                   $0.15              
 Keycorp          KEY.N    Up to $0.17 from   Up to $1.23 bln
                           $0.12              
 Citizens         CFG.N    To $0.27 from      Up to $1.02 bln
 Financial                 $0.22              
 Group                                        
 Capital One      COF.N    Maintains at       Up to $1.2 bln
 Financial Corp            $0.40              
 Regions          RF.N     To $0.14 from      Up to $2.03 bln 
 Financial Corp            $0.09              
 BB&T Corp        BBT.N    To $0.405 from     Up to $1.7 bln
                           $0.03              
 Discover         DFS.N    To $0.40 from      Up to $1.85 bln
 Financial                 $0.35              
 Services                                     
 Fifth Third      FITB.O   To $0.22 from      Up to $1.66 bln
 Bancorp                   $0.18              
 M&T Bank         MTB.N    By up to $0.20     Up to $1.8 bln
 BNY Mellon       BK.N     To $0.28 from      Up to $2.4 bln
                           $0.24              
 Huntington       HBAN.O   By 27 pct to       Up to $1.07 bln
 Bancshares                $0.14              
 U.S. Bancorp     USB.N    By 23 pct to       Up to $3.0 bln
                           $0.37              
 State Street     STT.N    To $0.47  from     Up to $1.2 bln
 Corp                      $0.42              
 SunTrust Banks   STI.N    To $0.50 from      Up to $2.0 bln
 Inc                       $0.40              
 PNC Financial    PNC.N    To $0.95 from      Up to $2.0 bln
 Services Group            $0.75              
 Inc                                          
 Northern Trust   NTRS.O   To $0.55 from      Up to $1 bln
 Corp                      $0.42              
 
 (Reporting by Savio D'Souza, Shreyashi Sanyal and Diptendu
Lahiri in Bengaluru; Editing by Sweta Singh)
 ((savio.dsouza@thomsonreuters.com; +1 646 223 8780; Reuters
Messaging: savio.dsouza.thomsonreuters.com@reuters.net))
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