Brokerages Set Regions Financial Co. (NYSE:RF) Price Target at $27.61

Regions Financial Co. (NYSE:RF) has been assigned an average rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $27.67.

Several brokerages have recently issued reports on RF. Piper Sandler upped their target price on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Compass Point upped their price objective on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods raised Regions Financial from a “market perform” rating to an “outperform” rating and upped their price target for the company from $27.00 to $28.00 in a report on Thursday, October 31st. Finally, DA Davidson lifted their price objective on Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, October 21st.

Institutional Trading of Regions Financial

Institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp boosted its holdings in Regions Financial by 16.3% in the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after buying an additional 7,791,399 shares during the period. National Bank of Canada FI lifted its position in shares of Regions Financial by 575.8% in the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock valued at $39,784,000 after acquiring an additional 1,452,956 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Regions Financial by 13.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock worth $201,238,000 after acquiring an additional 1,014,706 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Regions Financial by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock worth $285,562,000 after purchasing an additional 979,597 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Regions Financial by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock valued at $648,269,000 after purchasing an additional 816,226 shares during the period. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Stock Up 0.3 %

RF stock opened at $23.85 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average of $25.19 and a 200 day moving average of $23.13. Regions Financial has a twelve month low of $17.42 and a twelve month high of $27.96. The firm has a market cap of $21.68 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 2.61 and a beta of 1.19.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 EPS. On average, research analysts forecast that Regions Financial will post 2.12 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.19%. Regions Financial’s payout ratio is currently 56.50%.

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.