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

Huntington Bancshares Incorporated (NASDAQ:HBAN) declared a quarterly dividend on Thursday, October 17th,RTT News reports. Investors of record on Wednesday, December 18th will be given a dividend of 0.155 per share by the bank on Thursday, January 2nd. This represents a $0.62 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Wednesday, December 18th.

Huntington Bancshares has increased its dividend by an average of 1.1% annually over the last three years. Huntington Bancshares has a dividend payout ratio of 46.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Huntington Bancshares to earn $1.34 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 46.3%.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $17.17 on Monday. Huntington Bancshares has a 12 month low of $12.02 and a 12 month high of $18.44. The stock has a market capitalization of $24.94 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 3.47 and a beta of 1.06. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The business has a 50 day simple moving average of $16.65 and a 200-day simple moving average of $14.86.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm posted $0.36 earnings per share. On average, analysts anticipate that Huntington Bancshares will post 1.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on HBAN. Citigroup boosted their price objective on Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Sandler O’Neill restated a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. The Goldman Sachs Group lifted their price objective on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Barclays upped their target price on Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Finally, StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.41.

Insiders Place Their Bets

In related news, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the transaction, the chief financial officer now owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. The trade was a 3.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Helga Houston sold 6,455 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the transaction, the insider now directly owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,699 shares of company stock worth $757,356. 0.89% of the stock is owned by company insiders.

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.