See feature article below: Huntington Bancshares Incorporated (HBAN)
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Report For: Huntington Bancshares Incorporated (HBAN)
Shares of Huntington Bancshares Incorporated (HBAN) will begin trading ex-dividend on Wednesday, June 15. To qualify for a dividend check, investors must have owned Huntington shares prior to Wednesday, which is the last day the company’s management will finalize its roster of shareholders to whom it will mail payments.
Huntington stock closed Tuesday at $9.48, down 3.85%. The shares have declined 14.29% year-to-date, including 2.67% declines over the past three months. This compares with a 1.54% year-to-date rise in the S&P 500 index (SPX). Huntington stock has declined 17.71% over the past twelve months, while the S&P 500 has declined 0.90%. (See also: Huntington Bancshares to Trade Ex-Dividend.)
Where Things Stand
In its first quarter earnings results, reported in April, the Columbus, OH.-based company missed Wall Street estimates on revenue, while adjusted earnings per share were in-line. The company reported adjusted earnings of 20 cents per share, which matched analysts’ projections, while revenue of $754 million grew 6.7% year-over- year, missing Wall Street estimates by about $3.54 million.
For the quarter ending June, Huntington is expected to deliver earnings of 21 cents per share, down from 23 cents per share a year ago, on revenue of $776.34 million, down 0.5% year-over-year. For the full year, ending in December, earnings are projected to rise 3.7% year-over-year to 84 cents per share, while revenue of $3.39 billion would mark a 12.1% rise from the year-ago quarter. (See also: Top 5 Mid-cap Bank Stocks for 2016.)
The Bottom Line..
Based on Tuesday’s closing price of $9.48, Huntington’s 7-cent per share quarterly dividend yields 2.81% annually, or about 81 basis points above the 2.00% average yield of the S&P 500 index. Huntington will send its dividend payment on July 1 to shareholders of record as of June 17. The stock has a consensus hold rating and an average analyst 12-month price target of $11, implying a rise of 16% from current levels.
Source –Investopedia & StockCharts.com
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