Regions Financial (NYSE:RF) Reaches New 52-Week High Following Dividend Announcement

Regions Financial Corporation (NYSE:RFGet Free Report) hit a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The stock traded as high as $31.53 and last traded at $31.5050, with a volume of 3557015 shares changing hands. 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 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s payout ratio is currently 44.17%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on RF shares. Evercore reiterated an “underperform” rating and issued a $31.00 target price on shares of Regions Financial in a research note on Monday, July 6th. Robert W. Baird restated an “underperform” rating and issued a $28.00 price objective on shares of Regions Financial in a research note on Monday, July 6th. UBS Group raised their price objective on Regions Financial from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, July 7th. Piper Sandler reduced their target price on Regions Financial from $31.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, March 30th. Finally, JPMorgan Chase & Co. lifted their target price on Regions Financial from $29.00 to $31.50 and gave the stock a “neutral” rating in a research note on Monday, July 6th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Regions Financial has a consensus rating of “Hold” and a consensus target price of $31.28.

Read Our Latest Stock Analysis on Regions Financial

Regions Financial Stock Performance

The firm has a market capitalization of $27.61 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 1.22 and a beta of 1.00. The company has a fifty day moving average of $28.87 and a two-hundred day moving average of $28.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80.

Regions Financial (NYSE:RFGet Free Report) last issued its quarterly earnings data on Friday, April 17th. The bank reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the firm posted $0.54 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities research analysts predict that Regions Financial Corporation will post 2.6 earnings per share for the current fiscal year.

Insider Activity at Regions Financial

In related news, EVP Brian R. Willman sold 7,014 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RF. Tema ETFs LLC boosted its stake in shares of Regions Financial by 9.7% in the second quarter. Tema ETFs LLC now owns 13,105 shares of the bank’s stock valued at $396,000 after buying an additional 1,160 shares during the period. Fulton Bank N.A. bought a new stake in shares of Regions Financial during the 2nd quarter valued at $1,806,000. First Bank & Trust acquired a new stake in shares of Regions Financial during the 2nd quarter worth $391,000. Allied Private Wealth LLC bought a new position in shares of Regions Financial in the second quarter worth $37,000. Finally, Everpar Advisors LLC increased its position in shares of Regions Financial by 5.3% in the second quarter. Everpar Advisors LLC now owns 9,038 shares of the bank’s stock worth $273,000 after purchasing an additional 451 shares during the period. 79.39% of the stock is owned by institutional investors.

Regions Financial Company Profile

(Get Free Report)

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.

Further Reading

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