Regions Financial (NYSE:RF) Price Target Raised to $21.00

Regions Financial (NYSE:RF) had its target price boosted by Piper Sandler from $20.00 to $21.00 in a report released on Friday, Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

A number of other research firms have also recently commented on RF. Royal Bank of Canada lifted their price objective on Regions Financial from $19.00 to $21.00 and gave the stock an outperform rating in a research report on Monday, January 22nd. Citigroup upgraded Regions Financial from a neutral rating to a buy rating and lifted their price objective for the stock from $20.00 to $23.00 in a research report on Monday, March 18th. Evercore ISI lifted their price objective on Regions Financial from $20.00 to $22.00 and gave the stock an in-line rating in a research report on Thursday, March 28th. Stephens reissued an equal weight rating and issued a $21.00 price target on shares of Regions Financial in a research note on Tuesday, January 23rd. Finally, Truist Financial decreased their price target on Regions Financial from $22.00 to $20.00 and set a hold rating on the stock in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $20.34.

Regions Financial Trading Up 0.1 %

Shares of RF stock opened at $19.62 on Friday. Regions Financial has a fifty-two week low of $13.72 and a fifty-two week high of $21.08. The stock has a market cap of $18.03 billion, a P/E ratio of 10.66, a P/E/G ratio of 1.43 and a beta of 1.21. The business has a fifty day simple moving average of $19.43 and a 200-day simple moving average of $18.12. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.62 EPS. On average, analysts forecast that Regions Financial will post 1.95 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Friday, May 31st. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

Insider Buying and Selling

In related news, Director William C. Rhodes III purchased 50,000 shares of Regions Financial stock in a transaction that occurred on Tuesday, April 23rd. The shares were purchased at an average cost of $19.37 per share, with a total value of $968,500.00. Following the transaction, the director now owns 50,000 shares of the company’s stock, valued at approximately $968,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Regions Financial

Several hedge funds and other institutional investors have recently bought and sold shares of RF. Moisand Fitzgerald Tamayo LLC acquired a new position in Regions Financial during the 3rd quarter worth approximately $26,000. Laurel Wealth Advisors LLC increased its holdings in Regions Financial by 86.5% during the 4th quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock worth $27,000 after purchasing an additional 649 shares during the last quarter. ICA Group Wealth Management LLC purchased a new stake in Regions Financial during the 4th quarter worth approximately $28,000. Sound Income Strategies LLC increased its holdings in Regions Financial by 103.2% during the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock worth $29,000 after purchasing an additional 750 shares during the last quarter. Finally, Glassman Wealth Services increased its holdings in Regions Financial by 163.3% during the 4th quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock worth $30,000 after purchasing an additional 967 shares during the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Company Profile

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.