Citigroup Increases Regions Financial (NYSE:RF) Price Target to $30.00

Regions Financial (NYSE:RF) had its price target lifted by Citigroup from $26.00 to $30.00 in a report issued on Thursday,Benzinga reports. The firm currently has a buy rating on the bank’s stock.

Other research analysts have also issued reports about the company. Argus upgraded Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Thursday, October 24th. Wells Fargo & Company lifted their price target on Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. Evercore ISI increased their price objective on shares of Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Finally, Truist Financial lifted their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.41.

Regions Financial Stock Up 0.7 %

Regions Financial stock traded up $0.18 during trading hours on Thursday, hitting $26.92. The company had a trading volume of 251,111 shares, compared to its average volume of 7,895,149. The firm has a market capitalization of $24.47 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 2.72 and a beta of 1.16. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial has a fifty-two week low of $15.79 and a fifty-two week high of $26.94. The firm’s fifty day moving average is $23.95 and its 200-day moving average is $21.77.

Regions Financial (NYSE:RF) last issued its 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). The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. Regions Financial’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 EPS. On average, research analysts forecast that Regions Financial will post 2.12 earnings per share for the current year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.71%. The ex-dividend date is Monday, December 2nd. Regions Financial’s payout ratio is 56.50%.

Hedge Funds Weigh In On Regions Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fortem Financial Group LLC increased its holdings in Regions Financial by 4.9% in the 3rd quarter. Fortem Financial Group LLC now owns 27,777 shares of the bank’s stock worth $648,000 after purchasing an additional 1,289 shares in the last quarter. Toronto Dominion Bank boosted its stake in Regions Financial by 69.6% during the third quarter. Toronto Dominion Bank now owns 452,254 shares of the bank’s stock valued at $10,551,000 after buying an additional 185,520 shares during the period. Coldstream Capital Management Inc. increased its holdings in shares of Regions Financial by 5.0% in the third quarter. Coldstream Capital Management Inc. now owns 137,812 shares of the bank’s stock worth $3,222,000 after buying an additional 6,602 shares during the period. Geode Capital Management LLC increased its holdings in Regions Financial by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock valued at $526,118,000 after purchasing an additional 315,605 shares during the period. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Regions Financial by 2.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 359,381 shares of the bank’s stock worth $8,384,000 after acquiring an additional 9,047 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.