Wells Fargo & Company Cuts Regions Financial (NYSE:RF) Price Target to $26.00

Regions Financial (NYSE:RF) had its price target reduced by Wells Fargo & Company from $28.00 to $26.00 in a research note published on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the bank’s stock.

Other equities research analysts have also recently issued reports about the company. Citigroup decreased their price target on Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Piper Sandler increased their target price on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Truist Financial cut their price target on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a report on Friday, March 21st. Compass Point upped their price target on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Barclays increased their price objective on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.17.

Regions Financial Price Performance

Shares of NYSE:RF opened at $21.42 on Friday. The firm has a market capitalization of $19.39 billion, a PE ratio of 11.04, a P/E/G ratio of 1.93 and a beta of 1.19. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $23.25 and a two-hundred day moving average price of $23.95. Regions Financial has a twelve month low of $17.72 and a twelve month high of $27.96.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the company earned $0.39 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts forecast that Regions Financial will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.25 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.67%. Regions Financial’s dividend payout ratio (DPR) is 51.55%.

Insider Activity at Regions Financial

In related news, Director Joia M. Johnson purchased 2,300 shares of Regions Financial stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the transaction, the director now directly owns 17,486 shares in the company, valued at $370,353.48. The trade was a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have acquired 3,868 shares of company stock valued at $86,722. Insiders own 0.29% of the company’s stock.

Institutional Trading of Regions Financial

Several hedge funds and other institutional investors have recently bought and sold shares of RF. 111 Capital purchased a new position in shares of Regions Financial in the fourth quarter worth $204,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Regions Financial by 51.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 229,249 shares of the bank’s stock valued at $5,392,000 after acquiring an additional 77,586 shares during the period. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Regions Financial during the fourth quarter valued at about $307,000. Siemens Fonds Invest GmbH boosted its holdings in shares of Regions Financial by 345.8% during the fourth quarter. Siemens Fonds Invest GmbH now owns 44,148 shares of the bank’s stock worth $1,038,000 after purchasing an additional 34,244 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Regions Financial in the fourth quarter worth about $16,421,000. Institutional investors 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.