Huntington Bancshares said on July 20, 2023 that its board of directors declared a regular quarterly dividend of $0.16 per share ($0.62 annualized). Previously, the company paid $0.16 per share.
Shares must be purchased before the ex-div date of September 15, 2023 to be eligible for the dividend. Shareholders of record as of September 18, 2023 will receive payment on October 2, 2023.
At the current share price of $12.11/share, the dividend yield of the stock is 5.12%.
Looking back five years and taking a sample each week, the average dividend yield was 4.64%, the lowest 3.44% and the highest 8.57%. The standard deviation of returns is 0.98 (n=236).
The current dividend yield is 0.49 standard deviation above the historical average.
Additionally, the company’s dividend payout ratio is 0.37. The payout ratio tells us how much of a company’s income is paid out as dividends. A payout ratio of one (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above one means the company is dipping into its savings to maintain its dividend, which is not a healthy situation. Companies with little growth prospects should pay most of their income in the form of dividends, which generally means a payout ratio between 0.5 and 1.0. Companies with good growth prospects should retain part of their profits in order to invest in these growth prospects, which translates into a payout ratio of zero to 0.5.
The company’s 3-year dividend growth rate is 0.03%, demonstrating that it has increased its dividend over time.
What is fund sentiment?
There are 1633 funds or institutions reporting positions in Huntington Bancshares. This is a decrease of 5 owner(s) or 0.31% in the last quarter. Average portfolio weight of all funds dedicated to HBAN is 0.20%, a decrease of 17.08%. The total number of shares held by institutions has increased over the past three months by 226.42% to 4,374,416,000 shares. 
HBAN’s put/call ratio is 0.68, indicating a bullish outlook.
Analyst price forecast suggests 3.80% upside
As of July 6, 2023, the one-year average price target for Huntington Banc shares is 12.57. The forecast ranges from a low of 10.10 to a high of $15.75. The average price target represents an increase of 3.80% from its last closing price published on 12/11.
Check out our ranking of companies with the biggest upward price target.
The expected annual revenue for Huntington Bancshares is 8,036 million, an increase of 10.96%. Projected annual non-GAAP EPS is 1.59.
What are the other shareholders doing?
Price T Rowe Associates owns 66,868,000 shares representing 4.62% ownership of the company. In its previous filing, the company stated that it holds 75,908,000 shares, representing a decrease of 13.52%. The company decreases its HBAN portfolio allocation of 34.88% in the last quarter.
Invesco holds 47,437,000 shares representing 3.28% ownership of the company. In its previous filing, the company stated that it holds 35,944,000 shares, representing a raise of 24.23%. The company decreases its HBAN portfolio allocation of 90.76% in the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares owns 44,569,000 shares representing 3.08% ownership of the company. In its previous filing, the company said it held 43,791,000 shares, representing a raise 1.75%. The company decreases its HBAN portfolio allocation of 25.35% in the last quarter.
Charles Schwab Investment Management holds 43,728,000 shares representing 3.02% ownership of the company. In its previous filing, the company stated that it holds 45,268,000 shares, representing a decrease of 3.52%. The company decreases its HBAN portfolio allocation of 36.28% in the last quarter.
VIMSX – Vanguard Mid-Cap Index Fund Investor Shares owns 33,704,000 shares representing 2.33% ownership of the company. In its previous filing, the company stated that it holds 33,602,000 shares, representing a raise by 0.30%. The company decreases its HBAN portfolio allocation of 22.88% in the last quarter.
Huntington Bancshares General Information
(This description is provided by the company.)
Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio, with $123 billion in assets and a network of 839 full-service branches, including 11 Private Client Group offices and 1,322 ATMs in seven Midwestern states. Founded in 1866, National Huntington Bank and its affiliates provide personal, small business, corporate, cash management, wealth management, brokerage, trust and insurance services. Huntington also provides vehicle finance, equipment finance, national settlement and capital market services that extend beyond its core states.
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This story originally appeared on Fintel.
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