New York, Feb 6, 2026, 08:05 EST — Premarket
- Shares of Cadence Bank last traded at $42.11 on Jan. 30, before the stock was halted
- A filing reveals that each Cadence share will convert into a fixed 2.475 shares of Huntington.
- Investors are focused on Huntington’s next steps after the deal and its February 10 appearance at a UBS conference
Cadence Bank shares remained frozen on Friday following a trading halt by the New York Stock Exchange. The stock last closed at $42.11 on Jan. 30, slipping 1.66%. Meanwhile, Huntington Bancshares, the acquirer, dipped to $19.02 in premarket action.
The halt is crucial for Cadence shareholders since the stock is no longer trading actively but represents a corporate-action calculation. According to an SEC filing from Huntington, each Cadence common share was converted into the right to receive 2.475 shares of Huntington common stock—a fixed “exchange ratio.” This means the value now hinges entirely on HBAN’s stock price. Huntington Bancshares Incorporated
Now that the deal is sealed, attention shifts to Huntington’s next moves — particularly how smoothly it can absorb a large Southern presence without unexpected hits to credit or costs.
On Wednesday, Huntington announced it has chosen Ameriprise Financial Services as its new retail investment program provider. The move shifts support for its brokerage, advisory, and insurance services over to Ameriprise’s financial institutions unit. Huntington Financial Advisors, the bank said, has roughly 260 advisors managing close to $28 billion. “As we look to the future, we are focused on driving sustainable growth,” said Melissa Holding, head of Huntington wealth. Huntington Bancshares Incorporated
Huntington announced Thursday that Senthil Kumar will take over as chief risk officer starting Feb. 16, succeeding Helga Houston, who will shift to a senior executive advisor position. CEO Steve Steinour highlighted Kumar’s background as a boost to the bank’s risk management “as we enter the next phase of growth and innovation.” Huntington Bancshares Incorporated
Huntington finalized its merger with Cadence this month, announcing plans to convert Cadence customer accounts to Huntington systems by mid-2026. The bank confirmed it will maintain Cadence’s branch network without any closures. The merged entity is projected to hold around $279 billion in assets, based on Dec. 31, 2025 figures.
For former Cadence shareholders, the math is straightforward but harsh: their number of shares stays constant, while the value shifts with HBAN. That volatility can outweigh any news Cadence put out on its own before it stopped trading independently.
The familiar risk with bank mergers? Integration often drags — systems, staff, compliance all take longer than planned. Then, if credit conditions sour, earnings can falter just as management touts “growth” and scale.
Huntington’s next key event is its appearance at the UBS Financial Services Conference on Feb. 10, where CEO Steinour and CFO Zach Wasserman will take the stage. Investors want details on how the Cadence integration is progressing, the bank’s risk approach, and the expected pace of cost and revenue shifts now that CADE is no longer part of the equation.
