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

Huntington Bancshares Incorporated (NASDAQ:HBAN) announced a quarterly dividend on Thursday, April 17th, RTT News reports. Shareholders of record on Tuesday, June 17th will be paid a dividend of 0.155 per share by the bank on Tuesday, July 1st. This represents a $0.62 dividend on an annualized basis and a yield of 4.54%.

Huntington Bancshares has increased its dividend by an average of 0.8% per year over the last three years. Huntington Bancshares has a payout ratio of 39.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Huntington Bancshares to earn $1.57 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 39.5%.

Huntington Bancshares Trading Up 3.0 %

Shares of HBAN stock opened at $13.66 on Friday. The company has a market cap of $19.96 billion, a P/E ratio of 11.11, a PEG ratio of 1.33 and a beta of 0.89. Huntington Bancshares has a fifty-two week low of $11.92 and a fifty-two week high of $18.45. The stock has a 50 day simple moving average of $14.86 and a two-hundred day simple moving average of $16.00. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the business earned $0.27 earnings per share. Research analysts forecast that Huntington Bancshares will post 1.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HBAN. Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 price target on shares of Huntington Bancshares in a report on Tuesday, January 21st. Barclays upped their target price on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Baird R W raised shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Piper Sandler dropped their price objective on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research note on Tuesday, January 21st. Finally, Stephens reiterated an “equal weight” rating and issued a $18.50 price target on shares of Huntington Bancshares in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $17.94.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 69,088 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the sale, the vice president now directly owns 453,129 shares in the company, valued at approximately $6,647,402.43. This represents a 13.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Brendan A. Lawlor sold 3,521 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the sale, the vice president now owns 47,950 shares in the company, valued at approximately $731,237.50. The trade was a 6.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,781 shares of company stock worth $1,631,151 over the last quarter. Insiders own 0.89% of the company’s stock.

Huntington Bancshares announced that its board has initiated a stock repurchase plan on Thursday, April 17th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the bank to reacquire up to 5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

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.