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

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

Huntington Bancshares has increased its dividend by an average of 1.1% annually over the last three years. Huntington Bancshares has a dividend payout ratio of 44.9% meaning its dividend is sufficiently covered by earnings. Research 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 Up 1.3 %

HBAN opened at $14.38 on Monday. Huntington Bancshares has a twelve month low of $9.25 and a twelve month high of $15.24. The company’s 50-day moving average price is $14.21 and its two-hundred day moving average price is $13.69. The stock has a market cap of $20.84 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 2.90 and a beta of 1.05. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96.

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. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same period in the previous year, the business posted $0.35 EPS. As a group, equities analysts expect that Huntington Bancshares will post 1.19 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on HBAN shares. JPMorgan Chase & Co. reduced their price target on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a research report on Thursday, June 27th. Jefferies Financial Group lowered their price target on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Argus boosted their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Piper Sandler increased their target price on shares of Huntington Bancshares from $11.50 to $13.50 and gave the stock an “underweight” rating in a research note on Monday, July 22nd. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.59.

Insider Transactions at Huntington Bancshares

In related news, VP Nancy E. Maloney sold 57,537 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total transaction of $871,685.55. Following the transaction, the vice president now directly owns 69,595 shares in the company, valued at approximately $1,054,364.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, VP Nancy E. Maloney sold 57,537 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total value of $871,685.55. Following the sale, the vice president now directly owns 69,595 shares in the company, valued at approximately $1,054,364.25. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Zachary Jacob Wasserman sold 33,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the transaction, the chief financial officer now owns 265,809 shares of the company’s stock, valued at approximately $4,021,690.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,622 shares of company stock worth $1,762,904. Company insiders own 0.89% of the company’s stock.

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.