Regions Financial Corporation (NYSE:RF) Shares Set to Pay Quarterly Dividend of $0.30

Regions Financial Corporation (NYSE:RF) declared a quarterly dividend on Wednesday, October 14th. Shareholders of record on Tuesday, December 1st will be paid a dividend of $0.30 per share by the bank on Monday, January 4th. This represents a $1.20 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, December 1st.

Regions Financial has raised its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 12 years. Regions Financial has a dividend payout ratio of 48.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Regions Financial to earn $2.85 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 42.1%.

Regions Financial Price Performance

RF opened at $26.88 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26. Regions Financial has a 52-week low of $22.70 and a 52-week high of $32.47. The company has a 50 day moving average of $29.28 and a two-hundred day moving average of $28.97. The company has a market cap of $22.90 billion, a P/E ratio of 10.97, a P/E/G ratio of 1.11 and a beta of 1.05.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, July 17th. The bank reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 EPS. On average, analysts expect that Regions Financial will post 2.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on RF. Wells Fargo & Company raised their price objective on Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, July 6th. DA Davidson boosted their price objective on Regions Financial from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Truist Financial decreased their target price on Regions Financial from $34.00 to $31.00 and set a “hold” rating for the company in a research report on Wednesday, September 23rd. Robert W. Baird upgraded Regions Financial from an “underperform” rating to a “neutral” rating and set a $28.00 target price for the company in a research note on Friday, September 18th. Finally, UBS Group lowered their target price on Regions Financial from $33.00 to $30.00 and set a “neutral” rating for the company in a research note on Monday, October 5th. Five analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.53.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumers, businesses, and institutions.

Regions offers a range of products and services, including checking and savings accounts, consumer and commercial loans, mortgages, credit cards, treasury and cash-management services, investment and wealth-management solutions, and capital-markets services.