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

Huntington Bancshares Incorporated (NASDAQ:HBAN) announced 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 increased its dividend payment by an average of 1.1% annually over the last three years. Huntington Bancshares has a dividend 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 Stock Performance

Shares of HBAN stock opened at $13.28 on Friday. The company has a market cap of $19.26 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 2.45 and a beta of 1.11. Huntington Bancshares has a 52 week low of $9.13 and a 52 week high of $14.07. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average of $13.27 and a 200-day moving average of $12.13.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, January 19th. The bank reported $0.27 EPS for the quarter, topping the consensus estimate of $0.12 by $0.15. Huntington Bancshares had a net margin of 18.00% and a return on equity of 12.96%. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter last year, the firm posted $0.43 EPS. On average, equities analysts forecast that Huntington Bancshares will post 1.21 earnings per share for the current year.

Insider Transactions at Huntington Bancshares

In other news, Director Ann B. Crane sold 58,000 shares of Huntington Bancshares stock in a transaction on Friday, March 8th. The stock was sold at an average price of $13.54, for a total transaction of $785,320.00. Following the sale, the director now directly owns 192,247 shares in the company, valued at approximately $2,603,024.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related 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 value of $197,059.88. Following the completion of the sale, the vice president now owns 303,455 shares of the company’s stock, valued at approximately $3,847,809.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $785,320.00. Following the completion of the sale, the director now directly owns 192,247 shares of the company’s stock, valued at approximately $2,603,024.38. The disclosure for this sale can be found here. Insiders have sold 102,241 shares of company stock worth $1,360,359 in the last ninety days. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

Several large investors have recently added to or reduced their stakes in HBAN. Tyler Stone Wealth Management purchased a new stake in Huntington Bancshares in the 2nd quarter worth about $25,000. Clear Street Markets LLC grew its holdings in Huntington Bancshares by 81.6% during the 1st quarter. Clear Street Markets LLC now owns 2,831 shares of the bank’s stock valued at $32,000 after buying an additional 1,272 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in Huntington Bancshares during the 1st quarter valued at about $35,000. Quarry LP grew its holdings in Huntington Bancshares by 68.8% during the 1st quarter. Quarry LP now owns 3,777 shares of the bank’s stock valued at $42,000 after buying an additional 1,539 shares in the last quarter. Finally, Worth Asset Management LLC purchased a new position in Huntington Bancshares during the 1st quarter valued at about $45,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HBAN. Keefe, Bruyette & Woods increased their target price on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. StockNews.com cut Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Friday, December 29th. JPMorgan Chase & Co. increased their target price on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Stephens reiterated an “equal weight” rating and issued a $15.00 target price on shares of Huntington Bancshares in a report on Monday, April 1st. Finally, Royal Bank of Canada increased their target price on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, 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.