Jim Cramer on Huntington Bancshares Incorporated (HBAN): ‘Terrific Story’

In a recent episode of Mad Money, renowned investor Jim Cramer praised Huntington Bancshares Incorporated (HBAN), highlighting the regional bank's strong performance and growth prospects. Cramer's endorsement of HBAN comes amidst a challenging economic environment, making his bullish stance on the bank even more compelling.


Cramer commended HBAN's impressive customer acquisition, noting that the bank welcomed over 4 million new customers in the second quarter of 2024, bringing its total customer count to 168 million. This remarkable growth trajectory sets HBAN apart from other regional banks, demonstrating its ability to attract and retain customers even in a competitive market.


Cramer also praised HBAN's dividend policy, which has seen a significant increase of 23% for the 2024 interim cash dividend. This commitment to returning value to shareholders underscores the bank's financial strength and confidence in its future prospects. While other banks may offer higher dividend yields, HBAN's dividend growth and strong financial performance make it an attractive option for income-oriented investors.


In addition to its impressive customer acquisition and dividend policy, Cramer highlighted HBAN's expansion into new markets and financial services. The bank's recent entry into the Carolinas and Native American financial services demonstrates its commitment to growth and diversification. This strategic expansion allows HBAN to tap into new revenue streams and further strengthen its competitive position.


Cramer's endorsement of Huntington Bancshares Incorporated (HBAN) is a testament to the bank's strong performance and growth prospects. Despite the challenges posed by the current economic environment, HBAN's impressive customer acquisition, dividend policy, and strategic expansion make it an attractive investment opportunity. As Cramer noted, HBAN's story is "terrific," and investors should take note of this regional banking powerhouse.