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

Huntington Bancshares Incorporated (NASDAQ:HBAN) declared a quarterly dividend on Friday, July 23rd, RTT News reports. Shareholders of record on Friday, September 17th will be given a dividend of 0.15 per share by the bank on Friday, October 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend is Thursday, September 16th.

Huntington Bancshares has raised its dividend by 71.4% over the last three years and has increased its dividend every year for the last 1 years. Huntington Bancshares has a payout ratio of 53.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Huntington Bancshares to earn $1.44 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 41.7%.

NASDAQ HBAN opened at $15.04 on Wednesday. The company has a fifty day simple moving average of $14.67 and a two-hundred day simple moving average of $15.17. The stock has a market cap of $22.21 billion, a P/E ratio of 10.59 and a beta of 1.33. Huntington Bancshares has a 12-month low of $8.52 and a 12-month high of $16.91. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.42.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Wednesday, July 28th. The bank reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.03. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Huntington Bancshares had a net margin of 31.76% and a return on equity of 12.87%. As a group, sell-side analysts forecast that Huntington Bancshares will post 1.57 earnings per share for the current year.

A number of research analysts have issued reports on the stock. TheStreet cut shares of Huntington Bancshares from a “b-” rating to a “c+” rating in a report on Thursday, July 29th. Morgan Stanley raised their target price on shares of Huntington Bancshares from $18.50 to $18.75 and gave the stock an “equal weight” rating in a report on Monday, August 2nd. The Goldman Sachs Group initiated coverage on shares of Huntington Bancshares in a report on Wednesday, August 18th. They set a “buy” rating for the company. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of Huntington Bancshares in a report on Wednesday, July 7th. Finally, Raymond James raised shares of Huntington Bancshares from an “outperform” rating to a “strong-buy” rating and set a $18.00 target price for the company in a report on Wednesday, June 23rd. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $16.03.

Huntington Bancshares Company Profile

Huntington Bancshares, Inc operates as a bank holding company. It provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.

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Dividend History for Huntington Bancshares (NASDAQ:HBAN)

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