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

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

A number of other analysts have also issued reports on RF. Evercore ISI lowered their target price on Regions Financial from $22.00 to $21.00 and set an in-line rating on the stock in a report on Tuesday, June 25th. Jefferies Financial Group lifted their price objective on Regions Financial from $22.00 to $24.00 and gave the stock a buy rating in a report on Wednesday, July 3rd. Morgan Stanley decreased their price objective on Regions Financial from $27.00 to $25.00 and set an overweight rating on the stock in a report on Monday, April 22nd. Keefe, Bruyette & Woods lifted their price objective on Regions Financial from $21.00 to $22.00 and gave the stock a market perform rating in a report on Friday, April 5th. Finally, Citigroup raised Regions Financial from a neutral rating to a buy rating and lifted their price objective for the stock from $20.00 to $23.00 in a report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Regions Financial has a consensus rating of Hold and a consensus target price of $20.39.

Regions Financial Stock Performance

RF opened at $20.71 on Monday. The firm has a market capitalization of $18.97 billion, a P/E ratio of 11.26, a price-to-earnings-growth ratio of 2.16 and a beta of 1.18. The stock’s 50 day moving average price is $19.38 and its two-hundred day moving average price is $19.22. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. Regions Financial has a 12-month low of $13.72 and a 12-month high of $21.08.

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

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.96 annualized dividend and a yield of 4.64%. Regions Financial’s payout ratio is 52.17%.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, Director William C. Rhodes III acquired 50,000 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was purchased at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the transaction, the director now owns 50,000 shares in the company, valued at approximately $968,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other 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 sale, the executive vice president now directly owns 41,671 shares of the company’s stock, valued at approximately $831,336.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William C. Rhodes III bought 50,000 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was purchased at an average cost of $19.37 per share, with a total value of $968,500.00. Following the completion of the purchase, the director now directly owns 50,000 shares in the company, valued at approximately $968,500. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Regions Financial

Several hedge funds and other institutional investors have recently made changes to their positions in RF. Alps Advisors Inc. grew its stake in shares of Regions Financial by 19.9% during the third quarter. Alps Advisors Inc. now owns 18,776 shares of the bank’s stock worth $323,000 after purchasing an additional 3,113 shares during the period. Toroso Investments LLC grew its stake in shares of Regions Financial by 236.9% during the third quarter. Toroso Investments LLC now owns 80,152 shares of the bank’s stock worth $1,379,000 after purchasing an additional 56,364 shares during the period. Comerica Bank grew its stake in shares of Regions Financial by 313.5% during the third quarter. Comerica Bank now owns 290,307 shares of the bank’s stock worth $4,993,000 after purchasing an additional 220,095 shares during the period. Graham Capital Management L.P. acquired a new stake in shares of Regions Financial during the third quarter worth $621,000. Finally, Public Sector Pension Investment Board grew its stake in shares of Regions Financial by 5.7% during the third quarter. Public Sector Pension Investment Board now owns 217,512 shares of the bank’s stock worth $3,741,000 after purchasing an additional 11,754 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

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.