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

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. 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 Performance

Shares of NASDAQ HBAN traded up $0.17 during mid-day trading on Friday, hitting $17.01. 31,297,872 shares of the company were exchanged, compared to its average volume of 18,690,805. Huntington Bancshares has a 1-year low of $12.02 and a 1-year high of $18.44. The stock has a 50 day simple moving average of $17.07 and a 200-day simple moving average of $15.43. The firm has a market cap of $24.71 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. 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 issued its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same period last year, the business posted $0.27 EPS. On average, sell-side analysts forecast that Huntington Bancshares will post 1.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on HBAN. Evercore ISI increased their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Citigroup upped their price objective on Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. DA Davidson boosted their price target on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Piper Sandler boosted their target price on Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $17.76.

Insider Transactions at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the transaction, the chief financial officer now directly owns 259,943 shares in the company, valued at $4,582,795.09. The trade was a 3.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Helga Houston sold 6,455 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the sale, the insider now owns 558,342 shares in the company, valued at approximately $8,615,217.06. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,699 shares of company stock worth $757,356. 0.92% of the stock is currently owned by company insiders.

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.