Brokerages Set Regions Financial Co. (NYSE:RF) Target Price at $20.34

Shares of Regions Financial Co. (NYSE:RF) have earned a consensus recommendation of “Hold” from the eighteen ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $20.34.

RF has been the topic of several recent analyst reports. Citigroup upgraded shares of Regions Financial from a “neutral” rating to a “buy” rating and upped their target price for the stock from $20.00 to $23.00 in a research report on Monday, March 18th. Piper Sandler increased their price target on shares of Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Morgan Stanley lowered their price target on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Keefe, Bruyette & Woods increased their price target on shares of Regions Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Finally, Truist Financial lowered their price target on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd.

Regions Financial Trading Up 0.4 %

Shares of RF opened at $18.98 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The firm’s 50-day moving average is $19.27 and its two-hundred day moving average is $19.08. Regions Financial has a twelve month low of $13.72 and a twelve month high of $21.08. The firm has a market capitalization of $17.38 billion, a P/E ratio of 10.32, a PEG ratio of 2.07 and a beta of 1.19.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08). Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. On average, research analysts predict that Regions Financial will post 1.96 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. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date of this dividend is Monday, June 3rd. Regions Financial’s dividend payout ratio is currently 52.17%.

Insiders Place Their Bets

In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total transaction of $458,850.00. Following the transaction, the executive vice president now owns 41,671 shares of the company’s stock, valued at $831,336.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Regions Financial news, Director William C. Rhodes III acquired 50,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was bought at an average price of $19.37 per share, with a total value of $968,500.00. Following the completion of the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at $968,500. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP William D. Ritter sold 23,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the completion of the sale, the executive vice president now directly owns 41,671 shares of the company’s stock, valued at approximately $831,336.45. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Regions Financial

Several large investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale increased its position in shares of Regions Financial by 47.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 275,757 shares of the bank’s stock worth $5,666,000 after acquiring an additional 89,045 shares in the last quarter. Alexander Labrunerie & CO. Inc. acquired a new stake in shares of Regions Financial in the first quarter worth $231,000. Cetera Advisors LLC grew its holdings in Regions Financial by 62.9% during the 1st quarter. Cetera Advisors LLC now owns 46,441 shares of the bank’s stock valued at $977,000 after purchasing an additional 17,924 shares in the last quarter. Cetera Investment Advisers grew its holdings in Regions Financial by 344.1% during the 1st quarter. Cetera Investment Advisers now owns 259,964 shares of the bank’s stock valued at $5,470,000 after purchasing an additional 201,429 shares in the last quarter. Finally, PGGM Investments acquired a new stake in Regions Financial during the 1st quarter valued at $179,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

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.