Regions Financial Corporation to Issue Quarterly Dividend of $0.27 (NYSE:RF)

Key Points

• Regions Financial Corporation will issue a quarterly dividend of $0.27 per share to investors of record on December 1st, 2023, with a dividend yield of 4.3%.
• The bank has a dividend payout ratio of 40.7%, indicating that it can sufficiently cover its dividend with earnings, as analysts expect earnings of $2.48 per share next year.
• Currently, twelve investment analysts have rated Regions Financial as a Buy, with a consensus price target of $27.79.

Regions Financial Corporation (NYSE:RF - Get Free Report) announced a quarterly dividend on Wednesday, October 15th. Investors of record on Monday, December 1st will be given a dividend of 0.265 per share by the bank on Friday, January 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Monday, December 1st.

Regions Financial has a dividend payout ratio of 40.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Regions Financial to earn $2.48 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 40.3%.

Regions Financial Stock Down 1.7%

Regions Financial stock opened at $24.74 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82. Regions Financial has a 1-year low of $17.74 and a 1-year high of $27.96. The company has a market cap of $22.07 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 1.20 and a beta of 1.02. The stock's 50 day moving average price is $26.28 and its 200 day moving average price is $23.64.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The firm had revenue of $1.81 billion for the quarter. On average, sell-side analysts predict that Regions Financial will post 2.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RF. Barclays restated an "underweight" rating and issued a $27.00 price target (up from $24.00) on shares of Regions Financial in a research note on Monday, July 21st. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Regions Financial in a report on Wednesday, October 8th. Citigroup lifted their price objective on Regions Financial from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Tuesday, September 23rd. Morgan Stanley set a $32.00 price objective on Regions Financial in a report on Monday, September 29th. Finally, Keefe, Bruyette & Woods lifted their price objective on Regions Financial from $29.00 to $30.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Twelve investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.79.

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.

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