Regions Financial Co. (NYSE:RF) to Issue $0.25 Quarterly Dividend

Regions Financial Co. (NYSE:RF) declared a quarterly dividend on Wednesday, October 16th, RTT News reports. Shareholders of record on Monday, December 2nd will be paid a dividend of 0.25 per share by the bank on Thursday, January 2nd. This represents a $1.00 annualized dividend and a yield of 4.17%.

Regions Financial has increased its dividend by an average of 12.4% 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 44.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Regions Financial to earn $2.21 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 45.2%.

Regions Financial Price Performance

NYSE RF opened at $23.99 on Thursday. The company has a 50-day moving average price of $22.52 and a 200-day moving average price of $20.83. Regions Financial has a 52 week low of $13.72 and a 52 week high of $24.33. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $21.97 billion, a P/E ratio of 13.04, a PEG ratio of 2.80 and a beta of 1.17.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, July 19th. The bank reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The firm’s revenue was down 11.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.59 earnings per share. Equities research analysts anticipate that Regions Financial will post 2.02 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on RF. Wells Fargo & Company lifted their target price on Regions Financial from $18.00 to $22.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Evercore ISI lifted their price objective on Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. 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 Wednesday, July 3rd. Truist Financial raised their target price on shares of Regions Financial from $23.00 to $25.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $22.86.

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.