Regions Financial Q2 Revenue Beats, Dividend Hiked 13%
RF sits 39% above its 52-week low of $22.7.
Summary
Regions Financial delivered a slight Q2 revenue beat with adjusted revenue of $1.95B vs. $1.94B consensus. Adjusted EPS rose 13% year-over-year to $0.68, driven by 2% sequential net interest income growth and record wealth management income. Credit quality improved with lower net charge-offs and non-performing loans, despite a $68M provision. The 13% dividend hike to $0.30 per share and $59M in buybacks underscore capital strength. Profit rose on higher interest income and lower rainy day funds.
At the time of this announcement, RF was trading at $31.66 on NYSE in the Finance sector, with a market capitalization of approximately $27.6B. The 52-week trading range was $22.70 to $32.47. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.