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

Key Points

• Huntington Bancshares declared a quarterly dividend of $0.155 per share, payable July 1 to holders of record on June 17, which annualizes to $0.62 and yields about 3.7%.
• The dividend is well covered: Huntington's current payout ratio is 39.2%, and analysts forecast $1.91 EPS next year, implying a lower future payout ratio (~32.5%).
• Huntington beat the quarter with $0.37 EPS (vs. $0.16 expected) and $2.59 billion in revenue; the stock trades near $16.69 with a P/E around 12.

Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) declared a quarterly dividend on Thursday, April 23rd. Investors of record on Wednesday, June 17th will be paid a dividend of 0.155 per share by the bank on Wednesday, July 1st. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Wednesday, June 17th.

Huntington Bancshares has raised its dividend by an average of 0.0%per year over the last three years. Huntington Bancshares has a dividend payout ratio of 39.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Huntington Bancshares to earn $1.91 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 32.5%.

Huntington Bancshares Trading Down 0.8%

NASDAQ:HBAN opened at $16.69 on Friday. Huntington Bancshares has a one year low of $14.19 and a one year high of $19.45. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92. The company's 50-day simple moving average is $16.33 and its 200 day simple moving average is $16.72. The firm has a market capitalization of $34.01 billion, a P/E ratio of 12.04, a PEG ratio of 0.72 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.21. Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter last year, the firm earned $0.34 earnings per share. As a group, analysts forecast that Huntington Bancshares will post 1.61 EPS for the current fiscal year.

About Huntington Bancshares

Huntington Bancshares Incorporated NASDAQ: HBAN is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company's operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington's product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.

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