Citigroup Boosts Regions Financial (NYSE:RF) Price Target to $25.00

Regions Financial (NYSE:RF) had its price objective boosted by Citigroup from $23.00 to $25.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a buy rating on the bank’s stock.

Several other equities analysts have also recently weighed in on RF. Bank of America raised their price target on shares of Regions Financial from $22.00 to $25.00 and gave the company a neutral rating in a research report on Monday, July 22nd. Jefferies Financial Group increased their price objective on shares of Regions Financial from $22.00 to $24.00 and gave the company a buy rating in a research note on Wednesday, July 3rd. StockNews.com upgraded shares of Regions Financial from a sell rating to a hold rating in a research note on Saturday, July 13th. Piper Sandler increased their price objective on shares of Regions Financial from $20.00 to $21.00 and gave the company a neutral rating in a research note on Friday, April 26th. Finally, Truist Financial increased their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the company a hold rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $21.32.

Regions Financial Trading Up 0.9 %

Shares of RF stock opened at $22.76 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. The stock has a market cap of $20.83 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 2.37 and a beta of 1.18. The stock has a 50 day simple moving average of $19.83 and a 200 day simple moving average of $19.42. Regions Financial has a 1 year low of $13.72 and a 1 year high of $22.85.

Regions Financial (NYSE:RF) last released its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.03. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The company’s quarterly revenue was down 11.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.59 earnings per share. On average, research analysts predict that Regions Financial will post 1.99 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.39%. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

Insider Transactions at Regions Financial

In other news, EVP William D. Ritter sold 23,000 shares of Regions Financial stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total transaction 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 is accessible through this hyperlink. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Regions Financial

Several hedge funds have recently added to or reduced their stakes in RF. Whittier Trust Co. increased its position in shares of Regions Financial by 16.5% in the fourth quarter. Whittier Trust Co. now owns 3,881 shares of the bank’s stock valued at $75,000 after acquiring an additional 549 shares during the period. HB Wealth Management LLC increased its position in shares of Regions Financial by 0.6% during the first quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock valued at $2,035,000 after buying an additional 551 shares during the period. CWM LLC boosted its stake in Regions Financial by 1.4% during the first quarter. CWM LLC now owns 41,137 shares of the bank’s stock worth $866,000 after acquiring an additional 556 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in Regions Financial by 2.8% during the first quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank’s stock worth $433,000 after acquiring an additional 565 shares in the last quarter. Finally, Signet Financial Management LLC boosted its stake in Regions Financial by 4.9% during the first quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock worth $262,000 after acquiring an additional 584 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

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.