Regions Financial (NYSE:RF) Given New $29.00 Price Target at Piper Sandler

Regions Financial (NYSE:RF) had its price objective raised by Piper Sandler from $25.00 to $29.00 in a research note released on Tuesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the bank’s stock.

Several other equities analysts have also issued reports on RF. Deutsche Bank Aktiengesellschaft raised shares of Regions Financial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $24.00 to $26.00 in a report on Thursday, October 24th. Barclays upped their target price on Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a research report on Monday, October 21st. Argus raised Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Thursday, October 24th. Wedbush boosted their price target on Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Finally, Evercore ISI increased their price objective on shares of Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.18.

Regions Financial Price Performance

Shares of RF stock opened at $26.35 on Tuesday. The stock’s 50-day moving average is $24.65 and its 200 day moving average is $22.20. Regions Financial has a 1-year low of $16.86 and a 1-year high of $27.96. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. The company has a market cap of $23.94 billion, a P/E ratio of 14.88, a PEG ratio of 2.75 and a beta of 1.19.

Regions Financial (NYSE:RF) last released 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 net margin of 18.78% and a return on equity of 12.60%. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the business posted $0.49 earnings per share. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. Research analysts predict that Regions Financial will post 2.12 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. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.25 per share. 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 3.80%. Regions Financial’s payout ratio is 56.50%.

Institutional Trading of Regions Financial

A number of hedge funds have recently added to or reduced their stakes in RF. State Street Corp raised its position in shares of Regions Financial by 16.3% in the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after acquiring an additional 7,791,399 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Regions Financial by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock valued at $648,269,000 after purchasing an additional 816,226 shares in the last quarter. Geode Capital Management LLC raised its holdings in Regions Financial by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock worth $526,118,000 after purchasing an additional 315,605 shares during the period. Dimensional Fund Advisors LP boosted its position in Regions Financial by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock worth $285,562,000 after purchasing an additional 979,597 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Regions Financial by 13.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock valued at $201,238,000 after purchasing an additional 1,014,706 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

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.