Fintel reports that on May 19, 2023, Goldman Sachs maintained coverage of Regions Financial (NYSE:RF) with a Buy recommendation.
Analyst Price Forecast Suggests 32.87% Upside
As of May 11, 2023, the average one-year price target for Regions Financial is 22.58. The forecasts range from a low of 20.20 to a high of $26.30. The average price target represents an increase of 32.87% from its latest reported closing price of 16.99.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Regions Financial is 7,952MM, an increase of 11.62%. The projected annual non-GAAP EPS is 2.59.
Regions Financial Declares $0.20 Dividend
On April 19, 2023 the company declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Shareholders of record as of June 2, 2023 will receive the payment on July 3, 2023. Previously, the company paid $0.20 per share.
At the current share price of $16.99 / share, the stock’s dividend yield is 4.71%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.76%, the lowest has been 1.88%, and the highest has been 8.03%. The standard deviation of yields is 0.99 (n=237).
The current dividend yield is 0.96 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.33. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.29%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1574 funds or institutions reporting positions in Regions Financial. This is a decrease of 63 owner(s) or 3.85% in the last quarter. Average portfolio weight of all funds dedicated to RF is 0.23%, an increase of 4.10%. Total shares owned by institutions decreased in the last three months by 1.37% to 794,971K shares. The put/call ratio of RF is 0.77, indicating a bullish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 33,752K shares representing 3.60% ownership of the company. In it’s prior filing, the firm reported owning 97K shares, representing an increase of 99.71%. The firm increased its portfolio allocation in RF by 4,066.63% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 28,378K shares representing 3.02% ownership of the company. In it’s prior filing, the firm reported owning 27,859K shares, representing an increase of 1.83%. The firm increased its portfolio allocation in RF by 1.05% over the last quarter.
VIMSX – Vanguard Mid-Cap Index Fund Investor Shares holds 21,764K shares representing 2.32% ownership of the company. In it’s prior filing, the firm reported owning 21,541K shares, representing an increase of 1.02%. The firm decreased its portfolio allocation in RF by 0.31% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 21,602K shares representing 2.30% ownership of the company. In it’s prior filing, the firm reported owning 21,182K shares, representing an increase of 1.94%. The firm increased its portfolio allocation in RF by 0.93% over the last quarter.
Geode Capital Management holds 19,884K shares representing 2.12% ownership of the company. In it’s prior filing, the firm reported owning 19,609K shares, representing an increase of 1.39%. The firm decreased its portfolio allocation in RF by 19.26% over the last quarter.
Regions Financial Background Information
(This description is provided by the company.)
Regions Financial Corporation, with $147 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates more than 1,300 banking offices and 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC.
Key filings for this company:
This article originally appeared on Fintel
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