Regions Financial (NYSE:RF) Upgraded to “Overweight” at Stephens

Stephens upgraded shares of Regions Financial (NYSE:RF) from an equal weight rating to an overweight rating in a research note published on Tuesday morning, Marketbeat reports. Stephens currently has $26.00 price target on the bank’s stock.

A number of other brokerages have also commented on RF. Truist Financial boosted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods decreased their target price on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Bank of America raised their price target on shares of Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft raised Regions Financial from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $24.00 to $26.00 in a report on Thursday, October 24th. Finally, Wedbush raised their target price on Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $25.06.

Regions Financial Price Performance

Shares of NYSE RF opened at $23.88 on Tuesday. The firm has a market capitalization of $21.87 billion, a P/E ratio of 12.98, a P/E/G ratio of 2.54 and a beta of 1.17. The firm’s 50-day moving average price is $22.95 and its 200-day moving average price is $21.04. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. Regions Financial has a 1-year low of $13.95 and a 1-year high of $24.47.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the company posted $0.49 earnings per share. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. Equities research analysts anticipate that Regions Financial will post 2.05 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s dividend payout ratio (DPR) is 54.35%.

Institutional Trading of Regions Financial

Several hedge funds have recently made changes to their positions in the company. Cincinnati Insurance Co. purchased a new stake in shares of Regions Financial during the 1st quarter valued at approximately $74,606,000. Allspring Global Investments Holdings LLC lifted its position in shares of Regions Financial by 13.3% during 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 in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Regions Financial by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after purchasing an additional 979,597 shares in the last quarter. Swedbank AB purchased a new position in shares of Regions Financial in the first quarter valued at $19,322,000. Finally, Main Street Research LLC lifted its holdings in Regions Financial by 117.0% during the 1st quarter. Main Street Research LLC now owns 1,283,914 shares of the bank’s stock worth $27,314,000 after purchasing an additional 692,144 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors.

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.