Regions Financial Corporation (NYSE:RF) Receives Consensus Rating of “Hold” from Analysts

Shares of Regions Financial Corporation (NYSE:RF) have received a consensus recommendation of “Hold” from the seventeen analysts that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $29.9688.

Several research analysts have recently weighed in on RF shares. Evercore cut shares of Regions Financial from an “in-line” rating to an “underperform” rating and lifted their price target for the stock from $27.00 to $29.00 in a research note on Tuesday, January 6th. Truist Financial lifted their target price on Regions Financial from $26.00 to $29.00 and gave the company a “hold” rating in a research report on Monday, December 22nd. UBS Group reissued a “neutral” rating and set a $30.00 price target on shares of Regions Financial in a report on Wednesday, February 4th. JPMorgan Chase & Co. upped their price target on Regions Financial from $29.00 to $31.50 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Finally, Barclays lifted their price objective on Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, January 5th.

Regions Financial Price Performance

NYSE RF opened at $27.75 on Wednesday. The company has a 50-day moving average price of $28.69 and a 200-day moving average price of $26.86. Regions Financial has a 52 week low of $17.74 and a 52 week high of $31.53. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $23.96 billion, a P/E ratio of 12.12, a PEG ratio of 0.99 and a beta of 1.02.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 EPS. Equities research analysts anticipate that Regions Financial will post 2.26 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, March 2nd. Regions Financial’s dividend payout ratio is presently 46.29%.

Regions Financial announced that its Board of Directors has initiated a share buyback program on Wednesday, December 10th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the bank to repurchase up to 12.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Regions Financial

In related news, EVP William D. Ritter sold 36,000 shares of the company’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total value of $1,036,080.00. Following the completion of the transaction, the executive vice president owned 17,569 shares of the company’s stock, valued at approximately $505,635.82. This represents a 67.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Regions Financial

Large investors have recently made changes to their positions in the business. Empowered Funds LLC raised its stake in Regions Financial by 7.2% during the 1st quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after purchasing an additional 1,278 shares during the period. Woodline Partners LP grew its holdings in Regions Financial by 40.7% during the 1st quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock valued at $1,669,000 after buying an additional 22,216 shares in the last quarter. Hantz Financial Services Inc. raised its position in shares of Regions Financial by 30,728.6% during the second quarter. Hantz Financial Services Inc. now owns 4,316 shares of the bank’s stock valued at $102,000 after buying an additional 4,302 shares during the last quarter. Assetmark Inc. raised its position in shares of Regions Financial by 35.2% during the second quarter. Assetmark Inc. now owns 30,246 shares of the bank’s stock valued at $711,000 after buying an additional 7,870 shares during the last quarter. Finally, Atria Investments Inc lifted its holdings in shares of Regions Financial by 13.5% in the second quarter. Atria Investments Inc now owns 24,391 shares of the bank’s stock worth $574,000 after buying an additional 2,894 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.