Regions Financial (NYSE:RF) Rating Increased to Buy at Argus

Argus upgraded shares of Regions Financial (NYSE:RF) from a hold rating to a buy rating in a research report sent to investors on Thursday morning, Marketbeat.com reports. The firm currently has $26.00 price objective on the bank’s stock.

A number of other analysts have also recently issued reports on the stock. Barclays increased their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a research note on Monday. StockNews.com downgraded shares of Regions Financial from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. The Goldman Sachs Group lifted their target price on Regions Financial from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Wells Fargo & Company raised their price target on Regions Financial from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Jefferies Financial Group increased their target price on Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.35.

Regions Financial Trading Down 0.4 %

Shares of RF stock opened at $23.67 on Thursday. The stock has a market capitalization of $21.68 billion, a P/E ratio of 12.91, a P/E/G ratio of 2.80 and a beta of 1.17. 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 firm’s 50 day moving average is $22.87 and its 200 day moving average is $20.98. Regions Financial has a 12-month low of $13.95 and a 12-month high of $24.47.

Regions Financial (NYSE:RF) last announced its quarterly earnings data 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). The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The company’s revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.49 earnings per share. Research analysts expect that Regions Financial will post 2.02 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.22%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio is presently 54.35%.

Institutional Trading of Regions Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. EntryPoint Capital LLC purchased a new position in Regions Financial during the 1st quarter worth $26,000. American National Bank & Trust grew its position in shares of Regions Financial by 1,856.7% during the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after buying an additional 1,114 shares in the last quarter. Quarry LP increased its stake in shares of Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after buying an additional 816 shares during the period. MV Capital Management Inc. raised its holdings in shares of Regions Financial by 75.6% in the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after acquiring an additional 618 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in Regions Financial by 530.0% in the second 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. 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.