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

Huntington Bancshares Incorporated (NASDAQ:HBAN) declared a quarterly dividend on Friday, April 19th, RTT News reports. Investors of record on Monday, June 17th will be paid a dividend of 0.155 per share by the bank on Monday, July 1st. This represents a $0.62 annualized dividend and a yield of 4.67%.

Huntington Bancshares has increased its dividend payment by an average of 1.1% annually over the last three years. Huntington Bancshares has a dividend payout ratio of 43.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Huntington Bancshares to earn $1.41 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 44.0%.

Huntington Bancshares Trading Up 0.8 %

NASDAQ HBAN traded up $0.10 during trading hours on Friday, hitting $13.28. The company’s stock had a trading volume of 39,979,441 shares, compared to its average volume of 17,831,621. The stock has a fifty day moving average of $13.25 and a 200 day moving average of $12.11. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $19.26 billion, a P/E ratio of 10.77, a PEG ratio of 2.44 and a beta of 1.11. Huntington Bancshares has a twelve month low of $9.13 and a twelve month high of $14.07.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, January 19th. The bank reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.15. Huntington Bancshares had a net margin of 18.00% and a return on equity of 12.96%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the business posted $0.43 earnings per share. Equities research analysts forecast that Huntington Bancshares will post 1.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on HBAN. Morgan Stanley raised their price objective on shares of Huntington Bancshares from $13.00 to $16.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Stephens reaffirmed an “equal weight” rating and issued a $15.00 target price on shares of Huntington Bancshares in a research report on Monday, April 1st. Bank of America raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $14.00 to $16.00 in a research report on Monday, April 8th. Evercore ISI raised their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Finally, UBS Group upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their target price for the stock from $14.00 to $15.00 in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $14.97.

Insider Activity

In related news, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total transaction of $197,059.88. Following the sale, the vice president now directly owns 303,455 shares of the company’s stock, valued at approximately $3,847,809.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Huntington Bancshares news, VP Julie C. Tutkovics sold 15,541 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total transaction of $197,059.88. Following the sale, the vice president now directly owns 303,455 shares of the company’s stock, valued at approximately $3,847,809.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Helga Houston sold 28,700 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total transaction of $377,979.00. Following the sale, the insider now directly owns 568,222 shares in the company, valued at $7,483,483.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,241 shares of company stock worth $1,360,359. 0.89% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Huntington Bancshares

Large investors have recently modified their holdings of the company. Tyler Stone Wealth Management acquired a new stake in shares of Huntington Bancshares during the second quarter worth $25,000. Clear Street Markets LLC increased its position in shares of Huntington Bancshares by 81.6% during the first quarter. Clear Street Markets LLC now owns 2,831 shares of the bank’s stock worth $32,000 after buying an additional 1,272 shares during the period. Sunbelt Securities Inc. bought a new position in Huntington Bancshares during the first quarter worth $35,000. Coppell Advisory Solutions Corp. bought a new position in Huntington Bancshares during the fourth quarter worth $46,000. Finally, Worth Asset Management LLC bought a new position in Huntington Bancshares during the first quarter worth $45,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

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.