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

Huntington Bancshares Incorporated (NASDAQ:HBAN) announced a quarterly dividend on Friday, July 19th, RTT News reports. Investors of record on Tuesday, September 17th will be paid a dividend of 0.155 per share by the bank on Tuesday, October 1st. This represents a $0.62 annualized dividend and a dividend yield of 4.31%. The ex-dividend date is Tuesday, September 17th.

Huntington Bancshares has increased its dividend by an average of 1.1% per year over the last three years. Huntington Bancshares has a dividend payout ratio of 44.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Huntington Bancshares to earn $1.37 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 45.3%.

Huntington Bancshares Stock Performance

Shares of NASDAQ HBAN opened at $14.38 on Monday. Huntington Bancshares has a one year low of $9.25 and a one year high of $15.24. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a market cap of $20.84 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 2.90 and a beta of 1.05. The stock’s fifty day moving average price is $14.21 and its two-hundred day moving average price is $13.69.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the previous year, the firm posted $0.35 EPS. On average, equities analysts forecast that Huntington Bancshares will post 1.19 EPS for the current year.

Insider Buying and Selling at Huntington Bancshares

In other news, insider Kendall A. Kowalski sold 5,747 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $14.98, for a total transaction of $86,090.06. Following the transaction, the insider now directly owns 65,899 shares of the company’s stock, valued at $987,167.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Kendall A. Kowalski sold 5,747 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total value of $86,090.06. Following the transaction, the insider now owns 65,899 shares of the company’s stock, valued at approximately $987,167.02. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Nancy E. Maloney sold 57,537 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total value of $871,685.55. Following the completion of the transaction, the vice president now owns 69,595 shares in the company, valued at approximately $1,054,364.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,622 shares of company stock valued at $1,762,904. Company insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on HBAN shares. Piper Sandler lifted their price objective on Huntington Bancshares from $11.50 to $13.50 and gave the company an “underweight” rating in a report on Monday, July 22nd. StockNews.com downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. Evercore ISI cut their price target on shares of Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Robert W. Baird downgraded shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research report on Friday, July 26th. Finally, Baird R W downgraded Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.59.

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.