Regions Financial Corporation (NYSE:RF) Declares $0.27 Quarterly Dividend
by Doug Wharley · The Cerbat GemRegions Financial Corporation (NYSE:RF – Get Free Report) announced a quarterly dividend on Wednesday, April 15th. Stockholders of record on Monday, June 1st will be paid a dividend of 0.265 per share by the bank on Wednesday, July 1st. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, June 1st.
Regions Financial has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 12 years. Regions Financial has a dividend payout ratio of 43.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Regions Financial to earn $2.48 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 42.7%.
Regions Financial Price Performance
Shares of RF opened at $27.88 on Thursday. Regions Financial has a twelve month low of $18.83 and a twelve month high of $31.53. The firm’s fifty day simple moving average is $27.58 and its 200-day simple moving average is $26.76. The firm has a market capitalization of $24.08 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.18 and a beta of 1.03. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23.
Regions Financial (NYSE:RF – Get Free Report) last announced its quarterly earnings data on Friday, January 16th. The bank reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the business posted $0.56 earnings per share. Regions Financial’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts forecast that Regions Financial will post 2.26 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on RF shares. Brean Capital started coverage on shares of Regions Financial in a report on Thursday, March 12th. They issued a “neutral” rating on the stock. Truist Financial cut their price target on shares of Regions Financial from $29.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, March 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $31.00 price target on shares of Regions Financial in a research note on Tuesday, January 20th. Morgan Stanley cut their price target on shares of Regions Financial from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. Finally, Wells Fargo & Company lowered shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price target on the stock. in a research note on Friday, January 16th. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $29.75.
View Our Latest Research Report on Regions Financial
Regions Financial Company Profile
Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.
In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.