Regions Financial Co. (NYSE:RF) Declares Quarterly Dividend of $0.24

Regions Financial Co. (NYSE:RF) announced a quarterly dividend on Wednesday, April 17th, RTT News reports. Investors of record on Monday, June 3rd will be given a dividend of 0.24 per share by the bank on Monday, July 1st. This represents a $0.96 dividend on an annualized basis and a yield of 5.09%.

Regions Financial has increased its dividend by an average of 12.4% per year over the last three years and has raised its dividend every year for the last 3 years. Regions Financial has a payout ratio of 43.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Regions Financial to earn $2.22 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 43.2%.

Regions Financial Trading Up 0.3 %

RF traded up $0.05 during trading on Wednesday, reaching $18.86. 8,079,524 shares of the company’s stock were exchanged, compared to its average volume of 8,583,735. The firm has a market capitalization of $17.33 billion, a PE ratio of 9.00, a P/E/G ratio of 1.39 and a beta of 1.21. Regions Financial has a fifty-two week low of $13.72 and a fifty-two week high of $21.08. The company’s fifty day moving average price is $19.25 and its 200-day moving average price is $17.96. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 0.82.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, January 19th. The bank reported $0.39 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.09). The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.80 billion. Regions Financial had a return on equity of 14.50% and a net margin of 22.66%. The firm’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.67 earnings per share. As a group, equities analysts forecast that Regions Financial will post 1.98 EPS for the current year.

Institutional Investors Weigh In On Regions Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dark Forest Capital Management LP bought a new stake in Regions Financial in the first quarter valued at $26,000. Clear Street Markets LLC bought a new stake in shares of Regions Financial during the fourth quarter worth about $33,000. Harbour Investments Inc. increased its position in shares of Regions Financial by 715.1% during the fourth quarter. Harbour Investments Inc. now owns 1,891 shares of the bank’s stock worth $41,000 after acquiring an additional 1,659 shares in the last quarter. Coppell Advisory Solutions Corp. bought a new stake in shares of Regions Financial during the fourth quarter worth about $49,000. Finally, ICA Group Wealth Management LLC bought a new stake in shares of Regions Financial during the fourth quarter worth about $53,000. 79.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on RF. Stephens restated an “equal weight” rating and issued a $21.00 target price on shares of Regions Financial in a research report on Tuesday, January 23rd. Morgan Stanley raised their target price on shares of Regions Financial from $21.00 to $27.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. Royal Bank of Canada raised their target price on shares of Regions Financial from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. Citigroup upgraded shares of Regions Financial from a “neutral” rating to a “buy” rating and raised their target price for the company from $20.00 to $23.00 in a research report on Monday, March 18th. Finally, Argus lowered shares of Regions Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.39.

About Regions Financial

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.