Regions Financial (NYSE:RF) Given New $29.00 Price Target at DA Davidson

Regions Financial (NYSE:RF) had its price target upped by DA Davidson from $27.00 to $29.00 in a research note released on Monday morning, Benzinga reports. DA Davidson currently has a buy rating on the bank’s stock.

Several other brokerages also recently issued reports on RF. Evercore ISI increased their price target on Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Wells Fargo & Company increased their price target on Regions Financial from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday. Truist Financial increased their price target on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Monday. StockNews.com downgraded Regions Financial from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. Finally, Citigroup increased their price objective on Regions Financial from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $23.64.

Regions Financial Stock Down 0.8 %

Shares of RF stock opened at $23.62 on Monday. The stock’s 50 day simple moving average is $22.70 and its 200 day simple moving average is $20.91. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. Regions Financial has a twelve month low of $13.72 and a twelve month high of $24.47. The company has a market capitalization of $21.63 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 2.80 and a beta of 1.17.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, October 18th. The bank reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.04. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. Regions Financial’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 EPS. As a group, research analysts predict that Regions Financial will post 2.02 EPS for the current year.

Regions Financial Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio is currently 54.35%.

Institutional Trading of Regions Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cincinnati Insurance Co. bought a new position in shares of Regions Financial in the first quarter valued at approximately $74,606,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in Regions Financial in the 1st quarter valued at about $33,829,000. Allspring Global Investments Holdings LLC boosted its position in 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 purchasing an additional 1,014,706 shares during the period. Dimensional Fund Advisors LP lifted its holdings 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 worth $285,562,000 after buying an additional 979,597 shares in the last quarter. Finally, Swedbank AB purchased a new stake in shares of Regions Financial in the first quarter worth about $19,322,000. 79.39% of the stock is 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.