Huntington Bancshares Incorporated (NASDAQ:HBAN) Plans $0.16 Quarterly Dividend

Huntington Bancshares Incorporated (NASDAQ:HBAN) declared a quarterly dividend on Friday, April 19th, RTT News reports. Stockholders of record on Monday, June 17th will be paid a dividend of 0.155 per share by the bank on Monday, July 1st. This represents a $0.62 annualized dividend and a dividend yield of 4.67%.

Huntington Bancshares has raised its dividend payment by an average of 1.1% per year over the last three years. Huntington Bancshares has a payout ratio of 43.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Huntington Bancshares to earn $1.41 per share next year, which means the company should continue to be able to cover its $0.62 annual dividend with an expected future payout ratio of 44.0%.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $13.28 on Friday. Huntington Bancshares has a one year low of $9.13 and a one year high of $14.07. The stock has a 50-day moving average of $13.27 and a 200 day moving average of $12.15. The company has a market capitalization of $19.26 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 2.47 and a beta of 1.11. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.87.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, April 19th. The bank reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a return on equity of 12.96% and a net margin of 18.00%. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the company earned $0.38 EPS. On average, sell-side analysts forecast that Huntington Bancshares will post 1.21 EPS for the current year.

Insider Activity

In other news, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total transaction of $197,059.88. Following the transaction, the vice president now directly owns 303,455 shares of the company’s stock, valued at approximately $3,847,809.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Ann B. Crane sold 58,000 shares of Huntington Bancshares stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $13.54, for a total transaction of $785,320.00. Following the transaction, the director now directly owns 192,247 shares of the company’s stock, valued at approximately $2,603,024.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Julie C. Tutkovics sold 15,541 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total value of $197,059.88. Following the completion of the transaction, the vice president now directly owns 303,455 shares in the company, valued at $3,847,809.40. The disclosure for this sale can be found here. Insiders have sold a total of 102,241 shares of company stock valued at $1,360,359 in the last ninety days. Corporate insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Tyler Stone Wealth Management purchased a new position in Huntington Bancshares in the 2nd quarter worth approximately $25,000. Clear Street Markets LLC lifted its holdings in Huntington Bancshares by 81.6% in the 1st quarter. Clear Street Markets LLC now owns 2,831 shares of the bank’s stock worth $32,000 after purchasing an additional 1,272 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in Huntington Bancshares in the 1st quarter worth approximately $35,000. Coppell Advisory Solutions Corp. purchased a new position in Huntington Bancshares in the 4th quarter worth approximately $46,000. Finally, Worth Asset Management LLC purchased a new position in Huntington Bancshares in the 1st quarter worth approximately $45,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on HBAN. StockNews.com downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Jefferies Financial Group upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $14.00 to $16.00 in a report on Monday, April 8th. Royal Bank of Canada lifted their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. Citigroup boosted their price target on Huntington Bancshares from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, JPMorgan Chase & Co. boosted their price target on Huntington Bancshares from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.97.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.