Regions Financial (NYSE:RF) Price Target Raised to $21.00

Regions Financial (NYSE:RF) had its price objective raised by Truist Financial from $20.00 to $21.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a hold rating on the bank’s stock.

RF has been the subject of several other research reports. Piper Sandler raised their target price on Regions Financial from $20.00 to $21.00 and gave the company a neutral rating in a research note on Friday, April 26th. Citigroup upgraded Regions Financial from a neutral rating to a buy rating and increased their price target for the company from $20.00 to $23.00 in a research report on Monday, March 18th. Evercore ISI decreased their price target on Regions Financial from $22.00 to $21.00 and set an in-line rating for the company in a research report on Tuesday, June 25th. Keefe, Bruyette & Woods increased their price target on Regions Financial from $21.00 to $22.00 and gave the company a market perform rating in a research report on Friday, April 5th. Finally, Morgan Stanley decreased their price target on Regions Financial from $27.00 to $25.00 and set an overweight rating for the company in a research report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $20.39.

Regions Financial Stock Performance

RF stock opened at $20.19 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The firm has a market cap of $18.49 billion, a P/E ratio of 10.97, a P/E/G ratio of 2.16 and a beta of 1.18. Regions Financial has a 12-month low of $13.72 and a 12-month high of $21.08. The stock’s 50 day simple moving average is $19.36 and its 200 day simple moving average is $19.21.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.08). Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the previous year, the company posted $0.62 EPS. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, equities research analysts predict that Regions Financial will post 1.96 EPS for the current year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.76%. The ex-dividend date was Monday, June 3rd. Regions Financial’s payout ratio is presently 52.17%.

Insider Transactions at Regions Financial

In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of Regions Financial stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total value of $458,850.00. Following the completion of the transaction, the executive vice president now owns 41,671 shares in the company, valued at approximately $831,336.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director William C. Rhodes III bought 50,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was bought at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the transaction, the director now directly owns 50,000 shares in the company, valued at approximately $968,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $19.95, for a total value of $458,850.00. Following the completion of the transaction, the executive vice president now owns 41,671 shares in the company, valued at approximately $831,336.45. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Regions Financial

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Regions Financial in the fourth quarter valued at about $210,379,000. Wellington Management Group LLP raised its position in shares of Regions Financial by 8.4% during the third quarter. Wellington Management Group LLP now owns 53,824,390 shares of the bank’s stock worth $925,780,000 after purchasing an additional 4,160,768 shares during the period. Cincinnati Insurance Co. acquired a new stake in shares of Regions Financial during the first quarter worth about $74,606,000. Vanguard Group Inc. raised its position in shares of Regions Financial by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after purchasing an additional 3,119,237 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in shares of Regions Financial during the first quarter worth about $33,829,000. Institutional investors own 79.39% of the company’s stock.

Regions Financial Company Profile

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.