Huntington Bancshares Incorporated (HBAN) to Issue Quarterly Dividend of $0.16 on January 2nd

Huntington Bancshares Incorporated (NASDAQ:HBAN) announced a quarterly dividend on Thursday, October 17th, RTT News reports. Investors of record on Wednesday, December 18th will be paid 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 4.04%.

Huntington Bancshares has increased its dividend payment by an average of 1.1% per year over the last three years. Huntington Bancshares has a dividend payout ratio of 45.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Huntington Bancshares to earn $1.36 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 45.6%.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $15.36 on Friday. The stock has a market cap of $22.26 billion, a PE ratio of 13.84, a PEG ratio of 2.77 and a beta of 1.04. Huntington Bancshares has a 52 week low of $9.25 and a 52 week high of $16.03. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. The company’s fifty day moving average is $14.56 and its 200 day moving average is $13.93.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same period in the prior year, the firm earned $0.36 EPS. Research analysts anticipate that Huntington Bancshares will post 1.18 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Zachary Jacob Wasserman sold 33,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the sale, the chief financial officer now directly owns 265,809 shares of the company’s stock, valued at $4,021,690.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Zachary Jacob Wasserman sold 33,000 shares of Huntington Bancshares stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the sale, the chief financial officer now directly owns 265,809 shares of the company’s stock, valued at approximately $4,021,690.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brendan A. Lawlor sold 9,050 shares of Huntington Bancshares stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $15.06, for a total value of $136,293.00. Following the completion of the transaction, the vice president now owns 11,111 shares of the company’s stock, valued at $167,331.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 116,622 shares of company stock worth $1,762,904. 0.89% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on HBAN. Keefe, Bruyette & Woods cut their target price on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Citigroup increased their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Jefferies Financial Group dropped their price target on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. lowered their target price on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Finally, Morgan Stanley raised their price objective on Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, seven 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.91.

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.