Huntington Bancshares (NASDAQ:HBAN) Shares Gap Up After Dividend Announcement

Huntington Bancshares Incorporated (NASDAQ:HBANGet Rating) gapped up prior to trading on Friday following a dividend announcement from the company. The stock had previously closed at $14.10, but opened at $14.44. Huntington Bancshares shares last traded at $14.08, with a volume of 225,165 shares.

The newly announced dividend which will be paid on Friday, July 1st. Investors of record on Friday, June 17th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, June 16th. This represents a $0.62 annualized dividend and a dividend yield of 4.51%. Huntington Bancshares’s dividend payout ratio is 45.59%.

Several equities analysts have weighed in on the company. Raymond James cut their target price on Huntington Bancshares from $19.00 to $18.00 and set a “strong-buy” rating on the stock in a report on Friday. Morgan Stanley cut their target price on Huntington Bancshares from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Monday, March 28th. StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday. Bank of America downgraded Huntington Bancshares from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a research report on Friday, April 8th. Finally, UBS Group assumed coverage on Huntington Bancshares in a research report on Wednesday, January 12th. They issued a “buy” rating and a $21.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $17.83.

The firm has a market capitalization of $19.88 billion, a price-to-earnings ratio of 10.12, a P/E/G ratio of 0.45 and a beta of 1.19. The business has a 50-day moving average of $14.79 and a two-hundred day moving average of $15.53. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.41.

Huntington Bancshares (NASDAQ:HBANGet Rating) last released its earnings results on Thursday, April 21st. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. Huntington Bancshares had a return on equity of 13.42% and a net margin of 30.05%. The firm’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same period last year, the business earned $0.48 earnings per share. Equities analysts predict that Huntington Bancshares Incorporated will post 1.37 EPS for the current fiscal year.

In other news, EVP Scott D. Kleinman sold 8,290 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, March 22nd. The shares were sold at an average price of $15.50, for a total value of $128,495.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth J. Phelan bought 6,684 shares of the business’s stock in a transaction dated Monday, February 7th. The stock was purchased at an average price of $15.83 per share, with a total value of $105,807.72. The disclosure for this purchase can be found here. 0.72% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of HBAN. Tortoise Investment Management LLC boosted its holdings in Huntington Bancshares by 433.3% in the fourth quarter. Tortoise Investment Management LLC now owns 1,600 shares of the bank’s stock valued at $25,000 after acquiring an additional 1,300 shares during the last quarter. Avondale Wealth Management bought a new position in Huntington Bancshares in the fourth quarter valued at about $26,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Huntington Bancshares in the fourth quarter valued at about $27,000. Riverview Trust Co bought a new position in Huntington Bancshares in the first quarter valued at about $27,000. Finally, Larson Financial Group LLC bought a new position in Huntington Bancshares in the fourth quarter valued at about $31,000. Institutional investors own 78.27% of the company’s stock.

About Huntington Bancshares (NASDAQ:HBAN)

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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).

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