Huntington Bancshares Incorporated (NASDAQ:HBAN) Shareholders to Receive $0.15 Quarterly Dividend

Key Points

• Huntington Bancshares declared a quarterly dividend of $0.155 per share, payable January 4 to shareholders of record December 18. The annualized dividend is $0.62 per share, yielding approximately 4.0%.
• The dividend appears well covered, with a current payout ratio of 39.2% and an expected forward payout ratio of about 35% based on projected earnings.
• Analysts maintain a consensus “Moderate Buy” rating with a $19.00 target price, although several firms recently lowered their targets. The stock recently traded at $15.53, while quarterly earnings of $0.38 per share matched consensus estimates.

Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) declared a quarterly dividend on Thursday, October 22nd. Investors of record on Friday, December 18th will be paid a dividend of $0.1550 per share by the bank on Monday, January 4th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, December 18th.

Huntington Bancshares has a payout ratio of 39.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Huntington Bancshares to earn $1.77 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 35.0%.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $15.53 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.63. The company's fifty day moving average is $16.16 and its 200 day moving average is $16.66. The stock has a market cap of $31.38 billion, a PE ratio of 12.05, a PEG ratio of 1.00 and a beta of 0.95. Huntington Bancshares has a 52 week low of $14.82 and a 52 week high of $19.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The bank reported $0.38 earnings per share for the quarter, meeting analysts' consensus estimates of $0.38. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. Huntington Bancshares had a return on equity of 11.19% and a net margin of 16.64%. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Research analysts anticipate that Huntington Bancshares will post 1.54 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HBAN. Robert W. Baird reduced their target price on Huntington Bancshares from $21.00 to $19.00 and set an "outperform" rating on the stock in a report on Friday. Stephens cut their price target on Huntington Bancshares from $19.00 to $18.00 in a research note on Tuesday, September 22nd. Morgan Stanley reiterated an "equal weight" rating and set a $19.00 price objective (down from $21.00) on shares of Huntington Bancshares in a research note on Friday, July 24th. Bank of America reaffirmed a "neutral" rating and issued a $18.50 price objective (down from $20.00) on shares of Huntington Bancshares in a research note on Monday, July 27th. Finally, Jefferies Financial Group cut their target price on Huntington Bancshares from $18.00 to $17.00 and set a "hold" rating for the company in a research report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $19.00.

About Huntington Bancshares

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company's offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.