Regions Financial Corporation (NYSE:RF) declared a quarterly dividend on Thursday, October 19th, RTT News reports. Stockholders of record on Friday, December 8th will be given a dividend of 0.09 per share by the bank on Tuesday, January 2nd. This represents a $0.36 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Thursday, December 7th.
Regions Financial has increased its dividend by an average of 46.2% annually over the last three years and has raised its dividend every year for the last 4 years. Regions Financial has a payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Regions Financial to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 32.1%.
Regions Financial (RF) opened at $16.65 on Friday. Regions Financial has a fifty-two week low of $13.00 and a fifty-two week high of $16.94. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.39. The stock has a market cap of $19,243.92, a PE ratio of 17.28, a PEG ratio of 1.50 and a beta of 1.30.
RF has been the topic of several research reports. Robert W. Baird downgraded shares of Regions Financial from a “neutral” rating to an “underperform” rating and set a $13.00 price target on the stock. in a report on Monday, October 2nd. FBR & Co reiterated a “hold” rating and issued a $16.00 price target on shares of Regions Financial in a report on Wednesday, October 25th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $15.50 price target on shares of Regions Financial in a report on Friday, September 15th. Piper Jaffray Companies reiterated a “hold” rating and issued a $14.50 price target on shares of Regions Financial in a report on Thursday, August 17th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $19.00 price target on shares of Regions Financial in a report on Wednesday. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. Regions Financial has a consensus rating of “Hold” and an average price target of $15.60.
In other Regions Financial news, EVP John B. Owen sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $15.67, for a total value of $626,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Scott M. Peters sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $15.84, for a total value of $396,000.00. Following the completion of the sale, the executive vice president now owns 121,459 shares in the company, valued at approximately $1,923,910.56. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.
About Regions Financial
Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank, which is a member of the Federal Reserve System. It operates in three segments: Corporate Bank, which represents its commercial banking functions, including commercial and industrial, commercial real estate and investor real estate lending; Consumer Bank, which represents its branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, small business loans, indirect loans, consumer credit cards and other consumer loans, as well as the corresponding deposit relationships, and Wealth Management, which offers individuals, businesses, governmental institutions and non-profit entities a range of solutions to enable transfer of wealth.
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