Huntington Bancshares Incorporated (NASDAQ:HBAN) declared a quarterly dividend on Friday, July 19th, RTT News reports. Shareholders of record on Tuesday, September 17th will be paid a dividend of 0.15 per share by the bank on Tuesday, October 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend is Monday, September 16th. This is a positive change from Huntington Bancshares’s previous quarterly dividend of $0.14.
Huntington Bancshares has raised its dividend by an average of 25.1% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Huntington Bancshares has a dividend payout ratio of 48.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Huntington Bancshares to earn $1.34 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 44.8%.
Shares of NASDAQ HBAN opened at $14.75 on Friday. The stock has a market cap of $15.20 billion, a PE ratio of 12.29, a PEG ratio of 1.60 and a beta of 1.44. The business has a fifty day moving average of $13.34 and a two-hundred day moving average of $13.47. Huntington Bancshares has a 52-week low of $11.12 and a 52-week high of $16.06. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 0.90.
In related news, EVP Nancy E. Maloney sold 2,604 shares of Huntington Bancshares stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $14.57, for a total value of $37,940.28. Following the completion of the transaction, the executive vice president now directly owns 80,103 shares of the company’s stock, valued at $1,167,100.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.22% of the company’s stock.
A number of research analysts have issued reports on the company. Raymond James set a $14.00 price objective on Huntington Bancshares and gave the company a “buy” rating in a report on Thursday, August 29th. Zacks Investment Research raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. BidaskClub raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Monday, September 2nd. Argus started coverage on Huntington Bancshares in a report on Friday, May 31st. They issued a “hold” rating for the company. Finally, ValuEngine cut Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $15.48.
About Huntington Bancshares
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).
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