The Goldman Sachs Group Increases Regions Financial (NYSE:RF) Price Target to $33.00

Regions Financial (NYSE:RF) had its price objective lifted by The Goldman Sachs Group from $29.00 to $33.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the bank’s stock.

Several other equities research analysts have also commented on the company. Citigroup upped their target price on Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Keefe, Bruyette & Woods raised Regions Financial from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $27.00 to $28.00 in a research note on Thursday, October 31st. Barclays boosted their target price on shares of Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised Regions Financial from a “hold” rating to a “buy” rating and increased their price target for the company from $24.00 to $26.00 in a research report on Thursday, October 24th. Finally, DA Davidson increased their price objective on shares of Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Regions Financial presently has an average rating of “Moderate Buy” and a consensus price target of $26.71.

Regions Financial Trading Down 0.6 %

RF opened at $27.30 on Tuesday. The stock has a market capitalization of $24.81 billion, a price-to-earnings ratio of 15.42, a P/E/G ratio of 2.83 and a beta of 1.16. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35. Regions Financial has a twelve month low of $15.79 and a twelve month high of $27.96. The company has a 50-day simple moving average of $24.25 and a 200 day simple moving average of $21.96.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the company posted $0.49 earnings per share. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. Analysts predict that Regions Financial will post 2.12 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.66%. Regions Financial’s payout ratio is currently 56.50%.

Hedge Funds Weigh In On Regions Financial

A number of hedge funds have recently made changes to their positions in the business. Quarry LP raised its stake in Regions Financial by 29.5% during the 3rd quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after purchasing an additional 394 shares during the period. Private Advisor Group LLC raised its position in shares of Regions Financial by 1.8% during the third quarter. Private Advisor Group LLC now owns 24,928 shares of the bank’s stock valued at $581,000 after buying an additional 429 shares during the last quarter. CWM LLC lifted its holdings in shares of Regions Financial by 1.1% in the third quarter. CWM LLC now owns 42,346 shares of the bank’s stock worth $988,000 after buying an additional 480 shares in the last quarter. Resonant Capital Advisors LLC grew its stake in Regions Financial by 2.4% during the third quarter. Resonant Capital Advisors LLC now owns 21,845 shares of the bank’s stock valued at $515,000 after acquiring an additional 506 shares in the last quarter. Finally, Centaurus Financial Inc. grew its stake in Regions Financial by 5.9% during the third quarter. Centaurus Financial Inc. now owns 9,768 shares of the bank’s stock valued at $228,000 after acquiring an additional 540 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

About Regions Financial

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.