Regions Financial Co. (RF) to Issue Quarterly Dividend of $0.24 on July 1st

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 paid a dividend of 0.24 per share by the bank on Monday, July 1st. This represents a $0.96 annualized dividend and a yield of 5.05%. The ex-dividend date is Monday, June 3rd.

Regions Financial has raised its dividend payment 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% meaning its dividend is sufficiently covered by earnings. 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 0.7 %

Shares of RF stock opened at $19.00 on Friday. The stock has a market capitalization of $17.46 billion, a PE ratio of 9.09, a P/E/G ratio of 1.36 and a beta of 1.21. Regions Financial has a 1-year low of $13.72 and a 1-year high of $21.08. The business has a 50-day moving average of $19.30 and a 200 day moving average of $17.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.82.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, January 19th. The bank reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.09). Regions Financial had a return on equity of 14.50% and a net margin of 22.66%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the business posted $0.67 EPS. The company’s quarterly revenue was down 9.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Regions Financial will post 1.98 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on RF. Argus cut Regions Financial from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Truist Financial increased their target price on Regions Financial from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Monday, April 1st. Royal Bank of Canada raised their price objective on Regions Financial from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. StockNews.com lowered Regions Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Finally, Citigroup upgraded Regions Financial from a “neutral” rating to a “buy” rating and increased their target price for the company from $20.00 to $23.00 in a research note on Monday, March 18th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Regions Financial presently has an average rating of “Hold” and a consensus target price of $20.39.

Hedge Funds Weigh In On Regions Financial

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FIL Ltd raised its holdings in Regions Financial by 2.1% during the fourth quarter. FIL Ltd now owns 309,383 shares of the bank’s stock valued at $5,996,000 after acquiring an additional 6,259 shares during the period. SageView Advisory Group LLC bought a new stake in shares of Regions Financial in the fourth quarter worth about $498,000. DRW Securities LLC bought a new stake in shares of Regions Financial in the fourth quarter worth about $326,000. Public Employees Retirement System of Ohio increased its holdings in shares of Regions Financial by 2.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 391,571 shares of the bank’s stock worth $7,589,000 after purchasing an additional 10,699 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its holdings in shares of Regions Financial by 16.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 98,501 shares of the bank’s stock worth $1,909,000 after purchasing an additional 14,082 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

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.