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

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 given a dividend of 0.155 per share by the bank on Thursday, January 2nd. This represents a $0.62 annualized dividend and a yield of 4.02%.

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 45.9% indicating that 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 Stock Down 2.6 %

Shares of HBAN stock traded down $0.41 during trading hours on Thursday, hitting $15.43. 23,836,723 shares of the company’s stock traded hands, compared to its average volume of 16,236,104. 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 stock’s fifty day simple moving average is $14.49 and its two-hundred day simple moving average is $13.91. Huntington Bancshares has a 12-month low of $9.25 and a 12-month high of $16.03. The stock has a market cap of $22.36 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 2.77 and a beta of 1.04.

Huntington Bancshares (NASDAQ:HBAN) last announced 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 return on equity of 11.34% and a net margin of 14.77%. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the previous year, the business earned $0.35 earnings per share. On average, analysts expect that Huntington Bancshares will post 1.18 EPS for the current year.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the sale, the vice president now owns 69,595 shares of the company’s stock, valued at approximately $1,054,364.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Nancy E. Maloney sold 57,537 shares of the stock in a transaction 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 sale, the vice president now directly owns 69,595 shares of the company’s stock, valued at $1,054,364.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kendall A. Kowalski sold 5,747 shares of Huntington Bancshares stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total transaction of $86,090.06. Following the transaction, the insider now owns 65,899 shares in the company, valued at approximately $987,167.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 116,622 shares of company stock worth $1,762,904 in the last 90 days. 0.89% of the stock is currently owned by insiders.

Analyst Ratings Changes

HBAN has been the topic of several recent analyst reports. Piper Sandler increased their price objective on shares of Huntington Bancshares from $11.50 to $13.50 and gave the company an “underweight” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. cut their price target on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Morgan Stanley boosted their price objective on shares of Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Robert W. Baird downgraded Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research note on Friday, July 26th. Finally, Citigroup boosted their price target on Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.71.

About Huntington Bancshares

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.