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

Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) declared a quarterly dividend on Friday, July 18th, RTT News reports. Investors of record on Wednesday, September 17th will be given a dividend of 0.155 per share by the bank on Wednesday, October 1st. This represents a $0.62 annualized dividend and a dividend yield of 3.71%.

Huntington Bancshares has a payout ratio of 39.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Shares of NASDAQ HBAN traded down $0.27 during mid-day trading on Friday, hitting $16.71. The stock had a trading volume of 50,149,545 shares, compared to its average volume of 19,666,541. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.89 and a current ratio of 0.90. The company has a 50 day moving average of $16.28 and a two-hundred day moving average of $15.72. Huntington Bancshares has a twelve month low of $11.92 and a twelve month high of $18.45. The firm has a market cap of $24.41 billion, a PE ratio of 12.38, a PEG ratio of 1.24 and a beta of 0.93.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.44% and a net margin of 16.94%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the firm earned $0.27 EPS. Research analysts predict that Huntington Bancshares will post 1.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Zachary Jacob Wasserman sold 59,060 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $14.36, for a total transaction of $848,101.60. Following the completion of the sale, the chief financial officer owned 277,348 shares in the company, valued at $3,982,717.28. This trade represents a 17.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Marcy C. Hingst sold 13,700 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $15.79, for a total transaction of $216,323.00. Following the sale, the executive vice president owned 337,879 shares of the company's stock, valued at $5,335,109.41. This represents a 3.90% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 214,375 shares of company stock worth $3,049,277. 0.89% of the stock is currently owned by insiders.

Institutional Trading of Huntington Bancshares

A hedge fund recently raised its stake in Huntington Bancshares stock. Woodline Partners LP boosted its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 40.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 122,821 shares of the bank's stock after purchasing an additional 35,574 shares during the period. Woodline Partners LP's holdings in Huntington Bancshares were worth $1,844,000 at the end of the most recent quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on HBAN. Keefe, Bruyette & Woods lowered their price target on shares of Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Argus set a $17.00 price target on shares of Huntington Bancshares in a report on Friday, April 25th. Citigroup upped their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Royal Bank Of Canada lowered their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Finally, JPMorgan Chase & Co. lowered their price target on shares of Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.48.

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