Huntington Bancshares Incorporated (NASDAQ:HBAN) declared a quarterly dividend on Friday, July 19th, RTT News reports. Shareholders of record on Tuesday, September 17th will be given a dividend of 0.15 per share by the bank on Tuesday, October 1st. This represents a $0.60 annualized dividend and a yield of 4.32%. This is a boost from Huntington Bancshares’s previous quarterly dividend of $0.14.
Huntington Bancshares has increased its dividend by an average of 25.1% annually over the last three years and has raised its dividend every year for the last 6 years. Huntington Bancshares has a dividend payout ratio of 48.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Huntington Bancshares to earn $1.37 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 43.8%.
Huntington Bancshares stock opened at $13.88 on Friday. The company has a market cap of $14.52 billion, a PE ratio of 11.19, a P/E/G ratio of 1.36 and a beta of 1.38. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.90. Huntington Bancshares has a twelve month low of $11.12 and a twelve month high of $16.52. The firm has a 50-day moving average of $13.51.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, April 25th. The bank reported $0.32 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.32. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Huntington Bancshares had a net margin of 26.24% and a return on equity of 14.20%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 EPS. As a group, equities analysts forecast that Huntington Bancshares will post 1.31 EPS for the current year.
In other Huntington Bancshares news, EVP Paul G. Heller sold 33,772 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $13.08, for a total transaction of $441,737.76. Following the transaction, the executive vice president now owns 458,479 shares in the company, valued at approximately $5,996,905.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Stephen D. Steinour purchased 18,000 shares of Huntington Bancshares stock in a transaction that occurred on Friday, May 17th. The shares were purchased at an average price of $13.33 per share, for a total transaction of $239,940.00. Following the transaction, the chief executive officer now directly owns 5,142,348 shares in the company, valued at approximately $68,547,498.84. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 72,158 shares of company stock worth $978,909. Company insiders own 1.22% of the company’s stock.
Several research firms have weighed in on HBAN. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. BMO Capital Markets restated a “hold” rating on shares of Snc-Lavalin Group in a research report on Monday, July 8th. Argus lowered shares of Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research report on Friday, May 31st. Macquarie set a $79.00 target price on shares of Alaska Air Group and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, Zacks Investment Research lowered shares of HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Huntington Bancshares presently has a consensus rating of “Hold” and a consensus target price of $15.80.
About Huntington Bancshares
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).
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