Regions Financial Corporation (NYSE:RF) Announces Dividend Increase – $0.30 Per Share

Regions Financial Corporation (NYSE:RF) declared a quarterly dividend on Wednesday, July 15th. Investors of record on Tuesday, September 1st will be paid a dividend of 0.30 per share by the bank on Thursday, October 1st. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a 13.2% increase from Regions Financial’s previous quarterly dividend of $0.27.

Regions Financial has increased 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% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Regions Financial to earn $2.84 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 37.3%.

Regions Financial Trading Up 1.9%

Regions Financial stock opened at $31.50 on Thursday. Regions Financial has a 12 month low of $22.70 and a 12 month high of $31.55. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.18. The stock has a market cap of $26.88 billion, a P/E ratio of 13.12, a P/E/G ratio of 1.20 and a beta of 1.00. The company’s fifty day simple moving average is $28.78 and its 200-day simple moving average is $28.18.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.92 billion. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.Regions Financial’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share. As a group, sell-side analysts forecast that Regions Financial will post 2.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Robert W. Baird reaffirmed an “underperform” rating and set a $28.00 price objective on shares of Regions Financial in a research report on Monday, July 6th. Evercore reissued an “underperform” rating and issued a $31.00 target price on shares of Regions Financial in a research report on Monday, July 6th. Royal Bank Of Canada increased their price target on shares of Regions Financial from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. UBS Group lifted their price objective on shares of Regions Financial from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Regions Financial from $29.00 to $31.50 and gave the stock a “neutral” rating in a report on Monday, July 6th. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.28.

About Regions Financial

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.