Regions Financial Co. (NYSE:RF) Plans Dividend Increase – $0.17 Per Share

Regions Financial Co. (NYSE:RF) declared a quarterly dividend on Wednesday, July 21st, RTT News reports. Shareholders of record on Friday, September 3rd will be given a dividend of 0.17 per share by the bank on Friday, October 1st. This represents a $0.68 dividend on an annualized basis and a yield of 3.53%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.16.

Regions Financial has raised its dividend by 96.8% over the last three years and has raised its dividend annually for the last 1 consecutive years.

RF opened at $19.24 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. The stock has a market cap of $18.50 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 1.26 and a beta of 1.52. The business’s fifty day moving average price is $21.16. Regions Financial has a 1 year low of $10.44 and a 1 year high of $23.81.

Regions Financial (NYSE:RF) last released its earnings results on Thursday, April 22nd. The bank reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.15. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Regions Financial had a return on equity of 9.70% and a net margin of 23.34%. During the same period in the previous year, the business posted $0.14 EPS. As a group, sell-side analysts forecast that Regions Financial will post 2.14 EPS for the current fiscal year.

In other Regions Financial news, EVP Scott M. Peters sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 27th. The stock was sold at an average price of $21.00, for a total value of $252,000.00. Following the completion of the sale, the executive vice president now owns 23,036 shares of the company’s stock, valued at $483,756. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO David J. Turner, Jr. sold 88,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 27th. The stock was sold at an average price of $21.11, for a total value of $1,857,680.00. Following the completion of the sale, the chief financial officer now directly owns 160,891 shares of the company’s stock, valued at approximately $3,396,409.01. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

A number of equities research analysts recently issued reports on RF shares. Jefferies Financial Group boosted their price objective on Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, April 9th. Barclays boosted their price objective on Regions Financial from $22.00 to $23.00 and gave the company an “underweight” rating in a research note on Monday, April 26th. DA Davidson started coverage on Regions Financial in a research note on Tuesday, April 13th. They issued a “neutral” rating and a $20.00 price objective on the stock. Compass Point boosted their price objective on Regions Financial from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, May 18th. Finally, Odeon Capital Group cut Regions Financial from a “buy” rating to a “hold” rating in a research note on Monday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $21.35.

Regions Financial Company Profile

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.

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Dividend History for Regions Financial (NYSE:RF)

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