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

Huntington Bancshares Incorporated (NASDAQ:HBAN) announced a quarterly dividend on Friday, January 17th,RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 3.64%.

Huntington Bancshares has raised its dividend by an average of 0.8% annually over the last three years. Huntington Bancshares has a payout ratio of 39.7% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 1.0 %

NASDAQ:HBAN opened at $17.01 on Friday. The company has a market capitalization of $24.71 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. Huntington Bancshares has a 52-week low of $12.02 and a 52-week high of $18.44. The stock has a fifty day simple moving average of $17.06 and a 200-day simple moving average of $15.45. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (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 in the prior year, the firm earned $0.27 EPS. On average, equities research analysts expect that Huntington Bancshares will post 1.22 earnings per share for the current fiscal year.

Insider Activity

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the transaction, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at $4,582,795.09. This represents a 3.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now owns 496,076 shares in the company, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,699 shares of company stock worth $757,356. 0.92% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HBAN. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $20.00 target price (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Keefe, Bruyette & Woods lifted their price objective on Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Finally, Truist Financial assumed coverage on shares of Huntington Bancshares in a research report on Tuesday, January 7th. They set a “buy” rating and a $19.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average 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.