Huntington Bancshares Incorporated (HBAN) to Distribute Quarterly Dividend of $0.16 on April 1st

Huntington Bancshares Incorporated (NASDAQ:HBAN) declared a quarterly dividend on Friday, January 17th,RTT News reports. Stockholders of record on Tuesday, March 18th will be given a dividend of 0.155 per share by the bank on Tuesday, April 1st. This represents a $0.62 annualized dividend and a dividend yield of 3.64%.

Huntington Bancshares has increased its dividend payment by an average of 0.8% per year over the last three years. Huntington Bancshares has a payout ratio of 39.7% meaning its dividend is sufficiently covered by earnings. Equities 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 $17.01 on Friday. Huntington Bancshares has a 1-year low of $12.02 and a 1-year high of $18.44. The firm has a market capitalization of $24.71 billion, a PE ratio of 16.36, a P/E/G ratio of 2.51 and a beta of 1.07. 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’s fifty day moving average price is $17.06 and its two-hundred day moving average price is $15.47.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same period last year, the company earned $0.27 EPS. On average, research analysts expect that Huntington Bancshares will post 1.22 EPS for the current year.

Insider Buying and Selling

In other news, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the transaction, the insider now owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the sale, the vice president now directly owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,699 shares of company stock worth $757,356. Corporate insiders own 0.92% of the company’s stock.

Wall Street Analyst Weigh In

HBAN has been the subject of a number of analyst reports. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. Evercore ISI raised their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a research note on Monday, December 23rd. Citigroup boosted their target price on Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, DA Davidson lifted their price target on Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.76.

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.