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.
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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