Regions Financial Co. (NYSE:RF) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Regions Financial Co. (NYSE:RF) have been assigned a consensus rating of “Moderate Buy” from the seventeen research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $27.18.

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of Regions Financial from a “hold” rating to a “buy” rating and increased their price target for the stock from $24.00 to $26.00 in a report on Thursday, October 24th. Wedbush increased their target price on Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Piper Sandler increased their target price on shares of Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Wells Fargo & Company raised their price objective on Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. Finally, The Goldman Sachs Group boosted their target price on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th.

Regions Financial Stock Performance

Shares of RF stock opened at $26.26 on Monday. The stock has a market capitalization of $23.87 billion, a PE ratio of 14.84, a P/E/G ratio of 2.72 and a beta of 1.19. The firm has a 50 day moving average of $24.85 and a two-hundred day moving average of $22.34. Regions Financial has a 52 week low of $16.86 and a 52 week high of $27.96. 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 (NYSE:RF) last released its quarterly earnings data 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). The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The business’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 EPS. On average, research analysts predict that Regions Financial will post 2.12 EPS for the current fiscal year.

Regions Financial Dividend Announcement

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 is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.81%. Regions Financial’s dividend payout ratio is currently 56.50%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Logan Capital Management Inc. acquired a new position in shares of Regions Financial in the 3rd quarter worth approximately $2,195,000. Franklin Resources Inc. increased its stake in Regions Financial by 30.9% during the third quarter. Franklin Resources Inc. now owns 702,627 shares of the bank’s stock valued at $16,758,000 after purchasing an additional 165,710 shares during the last quarter. Synovus Financial Corp increased its stake in Regions Financial by 55.9% during the third quarter. Synovus Financial Corp now owns 375,572 shares of the bank’s stock valued at $8,762,000 after purchasing an additional 134,615 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Regions Financial by 2.0% during the third quarter. Tidal Investments LLC now owns 127,326 shares of the bank’s stock worth $2,971,000 after purchasing an additional 2,531 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in Regions Financial in the third quarter valued at approximately $56,000. Hedge funds and other 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.