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

Huntington Bancshares Incorporated (NASDAQ:HBAN) announced 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 payout ratio of 43.4% meaning 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 Price Performance

Shares of NASDAQ:HBAN opened at $13.28 on Friday. Huntington Bancshares has a 1-year low of $9.13 and a 1-year high of $14.07. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.87 and a quick ratio of 0.87. The business has a fifty day moving average price of $13.27 and a 200-day moving average price of $12.13. The company has a market capitalization of $19.26 billion, a PE ratio of 10.71, a PEG ratio of 2.45 and a beta of 1.11.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, January 19th. The bank reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.15. Huntington Bancshares had a return on equity of 12.96% and a net margin of 18.00%. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period last year, the company earned $0.43 earnings per share. As a group, equities analysts expect that Huntington Bancshares will post 1.21 EPS for the current fiscal year.

Insider Transactions at Huntington Bancshares

In other news, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total value of $197,059.88. Following the completion of the transaction, the vice president now owns 303,455 shares in the company, valued at approximately $3,847,809.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Ann B. Crane sold 58,000 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $13.54, for a total transaction of $785,320.00. Following the completion of the transaction, the director now owns 192,247 shares in the company, valued at approximately $2,603,024.38. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Julie C. Tutkovics sold 15,541 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total value of $197,059.88. Following the transaction, the vice president now owns 303,455 shares of the company’s stock, valued at approximately $3,847,809.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,241 shares of company stock worth $1,360,359. 0.89% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Huntington Bancshares

Several hedge funds have recently made changes to their positions in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Huntington Bancshares by 12.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,573,633 shares of the bank’s stock worth $70,897,000 after buying an additional 611,580 shares during the period. DRW Securities LLC purchased a new stake in shares of Huntington Bancshares in the 4th quarter worth $200,000. Harbour Investments Inc. lifted its holdings in shares of Huntington Bancshares by 6.9% in the 4th quarter. Harbour Investments Inc. now owns 24,601 shares of the bank’s stock worth $313,000 after buying an additional 1,582 shares during the period. O Dell Group LLC bought a new position in shares of Huntington Bancshares in the 4th quarter worth $110,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of Huntington Bancshares by 2.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 603,008 shares of the bank’s stock worth $7,670,000 after acquiring an additional 16,606 shares in the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HBAN has been the subject of several analyst reports. Evercore ISI raised their price target on Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Stephens reaffirmed an “equal weight” rating and set a $15.00 price objective on shares of Huntington Bancshares in a research report on Monday, April 1st. DA Davidson raised Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their target price for the stock from $14.00 to $15.50 in a research report on Tuesday, February 27th. StockNews.com cut Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. Finally, Raymond James raised their target price on Huntington Bancshares from $13.00 to $15.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, December 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $14.97.

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.