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

Huntington Bancshares Incorporated (NASDAQ:HBAN) declared a quarterly dividend on Friday, April 19th, RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.67%.

Huntington Bancshares has increased its dividend by an average of 1.1% per year over the last three years. Huntington Bancshares has a payout ratio of 43.4% indicating that its dividend is sufficiently covered by earnings. Research 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 HBAN traded up $0.10 on Friday, reaching $13.28. The stock had a trading volume of 39,979,441 shares, compared to its average volume of 17,831,621. The firm has a market capitalization of $19.26 billion, a PE ratio of 10.77, a PEG ratio of 2.44 and a beta of 1.11. 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 50-day moving average of $13.25 and a 200 day moving average of $12.11. Huntington Bancshares has a twelve month low of $9.13 and a twelve month high of $14.07.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, January 19th. The bank reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.15. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Huntington Bancshares had a return on equity of 12.96% and a net margin of 18.00%. During the same quarter in the prior year, the firm posted $0.43 EPS. Sell-side analysts expect that Huntington Bancshares will post 1.21 EPS for the current year.

Insider Transactions at Huntington Bancshares

In related news, insider Helga Houston sold 28,700 shares of Huntington Bancshares stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total value of $377,979.00. Following the completion of the transaction, the insider now directly owns 568,222 shares in the company, valued at $7,483,483.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Helga Houston sold 28,700 shares of Huntington Bancshares stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total value of $377,979.00. Following the completion of the transaction, the insider now directly owns 568,222 shares in the company, valued at $7,483,483.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares stock in a transaction dated 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 of the company’s stock, valued at $3,847,809.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 102,241 shares of company stock valued at $1,360,359. 0.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. raised its holdings in shares of Huntington Bancshares by 11.8% during the first quarter. American Century Companies Inc. now owns 189,174 shares of the bank’s stock valued at $2,765,000 after buying an additional 19,959 shares during the last quarter. D.A. Davidson & CO. bought a new stake in shares of Huntington Bancshares during the first quarter valued at approximately $315,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Huntington Bancshares by 309.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 10,001 shares of the bank’s stock valued at $146,000 after buying an additional 7,558 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Huntington Bancshares by 40.9% during the first quarter. Panagora Asset Management Inc. now owns 104,361 shares of the bank’s stock valued at $1,526,000 after buying an additional 30,296 shares during the last quarter. Finally, Aviva PLC raised its holdings in shares of Huntington Bancshares by 58.2% during the first quarter. Aviva PLC now owns 798,754 shares of the bank’s stock valued at $11,678,000 after buying an additional 293,944 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on HBAN. Keefe, Bruyette & Woods increased their target price on Huntington Bancshares from $14.00 to $15.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Evercore ISI increased their target price on Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Citigroup raised their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. DA Davidson upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $15.50 in a report on Tuesday, February 27th. Finally, UBS Group upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $15.00 in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.97.

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.