Regions Financial (NYSE:RF) Price Target Raised to $30.00 at Wells Fargo & Company

Regions Financial (NYSE:RF) had its price objective upped by Wells Fargo & Company from $28.00 to $30.00 in a research report report published on Monday morning, MarketBeat reports. They currently have an underweight rating on the bank’s stock.

A number of other analysts have also issued reports on RF. DA Davidson lifted their price target on Regions Financial from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Morgan Stanley lifted their target price on shares of Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. JPMorgan Chase & Co. reduced their target price on shares of Regions Financial from $31.50 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Royal Bank Of Canada boosted their price target on shares of Regions Financial from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Finally, Brean Capital assumed coverage on shares of Regions Financial in a research note on Thursday, March 12th. They set a “neutral” rating for the company. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $31.16.

Regions Financial Trading Up 0.5%

Shares of Regions Financial stock opened at $30.62 on Monday. The firm has a market capitalization of $26.13 billion, a PE ratio of 12.77, a P/E/G ratio of 1.15 and a beta of 1.00. Regions Financial has a twelve month low of $22.70 and a twelve month high of $31.53. The firm’s 50-day moving average price is $28.42 and its 200 day moving average price is $28.03. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.18.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, April 17th. The bank reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same period in the previous year, the business earned $0.54 EPS. Regions Financial’s quarterly revenue was up 5.0% on a year-over-year basis. On average, sell-side analysts predict that Regions Financial will post 2.61 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 3.5%. The ex-dividend date was Monday, June 1st. Regions Financial’s payout ratio is 44.17%.

Insider Activity at Regions Financial

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Regions Financial

A number of institutional investors and hedge funds have recently modified their holdings of RF. Norges Bank purchased a new stake in Regions Financial during the 4th quarter worth about $254,564,000. Victory Capital Management Inc. increased its holdings in shares of Regions Financial by 68.9% in the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock valued at $618,860,000 after acquiring an additional 9,312,449 shares during the last quarter. First Trust Advisors LP raised its position in shares of Regions Financial by 75.7% during the 1st quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock worth $348,936,000 after acquiring an additional 5,754,487 shares in the last quarter. Qube Research & Technologies Ltd raised its position in shares of Regions Financial by 286.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank’s stock worth $106,061,000 after acquiring an additional 2,980,505 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Regions Financial by 151.2% during the third quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank’s stock worth $103,886,000 after purchasing an additional 2,371,048 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Company Profile

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.