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

Huntington Bancshares Incorporated (NASDAQ:HBAN) announced a quarterly dividend on Friday, January 17th,RTT News reports. Investors of record on Tuesday, March 18th will be paid 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 dividend yield of 3.64%.

Huntington Bancshares has increased its dividend payment by an average of 0.8% annually over the last three years. Huntington Bancshares has a payout ratio of 39.7% indicating that 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 Stock Performance

Shares of NASDAQ HBAN opened at $17.01 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. The firm’s 50-day moving average price is $17.06 and its two-hundred day moving average price is $15.45. Huntington Bancshares has a 52-week low of $12.02 and a 52-week high of $18.44. The stock has a market capitalization of $24.71 billion, a P/E ratio of 16.36, a P/E/G ratio of 2.51 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating 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 quarter last year, the company posted $0.27 earnings per share. As a group, sell-side analysts forecast that Huntington Bancshares will post 1.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HBAN has been the topic of a number of recent analyst reports. DA Davidson lifted their price target on Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a report on Monday, October 21st. Barclays raised their price target on Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Evercore ISI increased their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler boosted their price target on shares of Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $20.00 price objective (up from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus price target of $17.76.

Insider Buying and Selling

In related news, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were 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 of the company’s stock, valued at approximately $4,582,795.09. The trade was a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the sale, the vice president now owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. The trade was a 5.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,699 shares of company stock valued at $757,356. Company insiders own 0.92% of the company’s stock.

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.