Shares of Regions Financial Corp (NYSE:RF) gapped up prior to trading on Friday following a dividend announcement from the company. The stock had previously closed at $15.15, but opened at $15.51. Regions Financial shares last traded at $15.40, with a volume of 6844410 shares trading hands.
The newly announced dividend which will be paid on Monday, April 1st. Shareholders of record on Friday, March 8th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Thursday, March 7th. Regions Financial’s dividend payout ratio (DPR) is currently 41.18%.
A number of equities research analysts have issued reports on the stock. Wedbush lowered shares of Regions Financial from an “outperform” rating to a “neutral” rating and set a $17.00 price objective for the company. in a report on Monday, February 4th. They noted that the move was a valuation call. UBS Group raised shares of Regions Financial from a “neutral” rating to a “buy” rating in a report on Tuesday, January 8th. Barclays cut their price objective on shares of Regions Financial from $20.00 to $17.00 and set an “underweight” rating for the company in a report on Wednesday, January 2nd. Nomura reaffirmed a “reduce” rating and set a $14.90 price objective (down from $17.00) on shares of Regions Financial in a report on Monday, December 10th. Finally, JPMorgan Chase & Co. raised shares of Regions Financial from a “neutral” rating to an “overweight” rating and set a $16.20 price objective for the company in a report on Sunday, December 2nd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Regions Financial presently has a consensus rating of “Hold” and a consensus price target of $17.46.
The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.87. The stock has a market cap of $16.04 billion, a P/E ratio of 11.35, a P/E/G ratio of 0.84 and a beta of 1.48.
Regions Financial (NYSE:RF) last posted its earnings results on Friday, January 18th. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.49 billion. Regions Financial had a net margin of 27.23% and a return on equity of 10.84%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 earnings per share. As a group, equities analysts expect that Regions Financial Corp will post 1.58 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. boosted its position in shares of Regions Financial by 103.9% during the 3rd quarter. Macquarie Group Ltd. now owns 108,900 shares of the bank’s stock valued at $1,999,000 after acquiring an additional 55,500 shares during the last quarter. Country Club Trust Company n.a. boosted its position in shares of Regions Financial by 2.0% during the 3rd quarter. Country Club Trust Company n.a. now owns 468,846 shares of the bank’s stock valued at $8,603,000 after acquiring an additional 9,344 shares during the last quarter. Dorsey Wright & Associates boosted its position in shares of Regions Financial by 3.5% during the 3rd quarter. Dorsey Wright & Associates now owns 169,688 shares of the bank’s stock valued at $3,114,000 after acquiring an additional 5,732 shares during the last quarter. Independent Advisor Alliance bought a new position in shares of Regions Financial during the 3rd quarter valued at approximately $180,000. Finally, Riverhead Capital Management LLC boosted its position in shares of Regions Financial by 10.7% during the 3rd quarter. Riverhead Capital Management LLC now owns 179,044 shares of the bank’s stock valued at $3,285,000 after acquiring an additional 17,371 shares during the last quarter. Hedge funds and other institutional investors own 76.19% of the company’s stock.
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About Regions Financial (NYSE:RF)
Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.
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