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

Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) declared a quarterly dividend on Friday, April 19th, RTT News reports. Investors of record on Monday, June 17th will be given 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 raised its dividend by an average of 1.1% per year over the last three years. Huntington Bancshares has a dividend 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 Trading Up 0.8 %

Shares of Huntington Bancshares stock traded up $0.10 during midday trading on Friday, reaching $13.28. The company had a trading volume of 39,981,445 shares, compared to its average volume of 17,831,621. The stock has a fifty day moving average price of $13.27 and a 200 day moving average price of $12.13. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market cap of $19.26 billion, a PE ratio of 10.71, a P/E/G ratio of 2.44 and a beta of 1.11. Huntington Bancshares has a fifty-two week low of $9.13 and a fifty-two week high of $14.07.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings data on Friday, January 19th. The bank reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.15. Huntington Bancshares had a return on equity of 12.96% and a net margin of 18.00%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the firm earned $0.43 earnings per share. On average, equities analysts anticipate that Huntington Bancshares will post 1.21 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on HBAN shares. Raymond James boosted their price objective on Huntington Bancshares from $13.00 to $15.00 and gave the company a "strong-buy" rating in a report on Tuesday, December 26th. Royal Bank of Canada boosted their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the company an "outperform" rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods boosted their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the company a "market perform" rating in a report on Friday, April 5th. Stephens restated an "equal weight" rating and set a $15.00 price objective on shares of Huntington Bancshares in a report on Monday, April 1st. Finally, Morgan Stanley boosted their price objective on Huntington Bancshares from $13.00 to $16.00 and gave the company an "overweight" rating in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $14.97.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, Director Ann B. Crane sold 58,000 shares of the company's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the transaction, the director now owns 192,247 shares in the company, valued at approximately $2,603,024.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Huntington Bancshares news, Director Ann B. Crane sold 58,000 shares of the company's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the transaction, the director now owns 192,247 shares in the company, valued at approximately $2,603,024.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Julie C. Tutkovics sold 15,541 shares of the company's stock in a transaction on Tuesday, February 20th. The shares were 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 approximately $3,847,809.40. The disclosure for this sale can be found here. Insiders sold 102,241 shares of company stock worth $1,360,359 in the last quarter. 0.89% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HBAN. Norges Bank bought a new position in shares of Huntington Bancshares during the 4th quarter worth $216,049,000. First Trust Advisors LP grew its stake in shares of Huntington Bancshares by 359.4% during the 1st quarter. First Trust Advisors LP now owns 18,947,586 shares of the bank's stock worth $212,213,000 after acquiring an additional 14,823,508 shares during the period. Schonfeld Strategic Advisors LLC grew its stake in shares of Huntington Bancshares by 2,536.9% during the 1st quarter. Schonfeld Strategic Advisors LLC now owns 5,936,016 shares of the bank's stock worth $66,483,000 after acquiring an additional 5,710,903 shares during the period. Barclays PLC boosted its stake in Huntington Bancshares by 56.1% in the 4th quarter. Barclays PLC now owns 8,421,022 shares of the bank's stock worth $107,111,000 after purchasing an additional 3,025,048 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Huntington Bancshares by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 162,794,916 shares of the bank's stock worth $2,380,062,000 after purchasing an additional 2,353,575 shares during the period. Institutional investors own 80.72% of the company's stock.

About Huntington Bancshares

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.