Regions Financial (NYSE:RF) Hits New 12-Month High – Here’s What Happened

Shares of Regions Financial Co. (NYSE:RF) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $25.49 and last traded at $25.47, with a volume of 222241 shares. The stock had previously closed at $23.62.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Keefe, Bruyette & Woods upgraded Regions Financial from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $27.00 to $28.00 in a research report on Thursday, October 31st. Bank of America boosted their price target on shares of Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft raised shares of Regions Financial from a “hold” rating to a “buy” rating and increased their price objective for the company from $24.00 to $26.00 in a report on Thursday, October 24th. The Goldman Sachs Group increased their target price on Regions Financial from $25.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Evercore ISI boosted their price target on Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.45.

Regions Financial Trading Up 9.9 %

The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. The business’s 50-day simple moving average is $23.12 and its 200-day simple moving average is $21.24. The company has a market cap of $23.77 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 2.47 and a beta of 1.16.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the business posted $0.49 earnings per share. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. Research analysts predict that Regions Financial Co. will post 2.1 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.85%. Regions Financial’s dividend payout ratio (DPR) is presently 56.50%.

Institutional Investors Weigh In On Regions Financial

A number of institutional investors have recently added to or reduced their stakes in the company. American National Bank & Trust lifted its position in shares of Regions Financial by 1,856.7% during the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after purchasing an additional 1,114 shares in the last quarter. EntryPoint Capital LLC bought a new position in Regions Financial in the 1st quarter worth about $26,000. Quarry LP increased its position in Regions Financial by 157.2% in the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after acquiring an additional 816 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in Regions Financial by 530.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after acquiring an additional 1,256 shares during the period. Finally, Innealta Capital LLC bought a new position in shares of Regions Financial in the second quarter worth $32,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

About Regions Financial

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.