Regions Financial (NYSE:RF) Hits New 1-Year High Following Dividend Announcement

Regions Financial Corporation (NYSE:RF) reached a new 52-week high on Wednesday following a dividend announcement from the company. The stock traded as high as $31.53 and last traded at $31.5050, with a volume of 3557015 shares traded. The stock had previously closed at $30.92.

The newly announced dividend which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 1st. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s dividend payout ratio (DPR) is currently 44.17%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RF. Royal Bank Of Canada boosted their target price on Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Stephens initiated coverage on Regions Financial in a research note on Monday, June 15th. They set an “equal weight” rating and a $31.00 price target for the company. UBS Group raised their target price on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. lifted their price objective on Regions Financial from $29.00 to $31.50 and gave the company a “neutral” rating in a report on Monday, July 6th. Finally, Robert W. Baird reaffirmed an “underperform” rating and set a $28.00 price objective on shares of Regions Financial in a report on Monday, July 6th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $31.28.

Regions Financial Stock Performance

The stock has a 50-day moving average price of $28.87 and a 200 day moving average price of $28.22. The firm has a market cap of $27.61 billion, a PE ratio of 13.48, a P/E/G ratio of 1.22 and a beta of 1.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80.

Regions Financial (NYSE:RF) last released its earnings results 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 for the quarter, compared to analysts’ expectations of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the company earned $0.54 earnings per share. Research analysts forecast that Regions Financial Corporation will post 2.6 earnings per share for the current year.

Insider Transactions at Regions Financial

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RF. Root Financial Partners LLC grew its stake in shares of Regions Financial by 3.9% in the fourth quarter. Root Financial Partners LLC now owns 9,148 shares of the bank’s stock valued at $248,000 after buying an additional 346 shares in the last quarter. Master S Wealth Management Inc. lifted its position in Regions Financial by 1.0% during the 1st quarter. Master S Wealth Management Inc. now owns 38,631 shares of the bank’s stock worth $1,009,000 after acquiring an additional 372 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Regions Financial by 1.1% in the 4th quarter. Van ECK Associates Corp now owns 33,604 shares of the bank’s stock worth $911,000 after acquiring an additional 373 shares during the period. Legacy Wealth Managment LLC ID boosted its holdings in Regions Financial by 17.3% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 2,589 shares of the bank’s stock worth $68,000 after acquiring an additional 381 shares during the period. Finally, Lcnb Corp grew its position in Regions Financial by 3.8% in the fourth quarter. Lcnb Corp now owns 10,725 shares of the bank’s stock valued at $291,000 after acquiring an additional 390 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Company Profile

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.