Barclays Raises Regions Financial (NYSE:RF) Price Target to $25.00

Regions Financial (NYSE:RF) had its target price upped by Barclays from $22.00 to $25.00 in a report published on Monday morning, Benzinga reports. They currently have an underweight rating on the bank’s stock.

A number of other brokerages have also recently commented on RF. Truist Financial upped their price target on Regions Financial from $23.00 to $25.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. The Goldman Sachs Group increased their target price on shares of Regions Financial from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Evercore ISI lifted their price target on shares of Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Wedbush upgraded shares of Regions Financial from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $23.00 to $28.00 in a research report on Tuesday, September 24th. Finally, Citigroup upped their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Regions Financial has an average rating of “Hold” and an average price target of $23.64.

Regions Financial Stock Performance

Shares of NYSE RF opened at $23.64 on Monday. The firm’s 50-day moving average price is $22.81 and its 200-day moving average price is $20.96. Regions Financial has a 52-week low of $13.72 and a 52-week high of $24.47. The company has a market cap of $21.65 billion, a PE ratio of 12.85, a PEG ratio of 2.80 and a beta of 1.17. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the business earned $0.49 earnings per share. The business’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, analysts anticipate that Regions Financial will post 2.02 EPS for the current year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio (DPR) is presently 54.35%.

Institutional Trading of Regions Financial

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of Regions Financial by 7.4% during the 2nd 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 during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of 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 valued at $201,238,000 after buying an additional 1,014,706 shares during the last quarter. Cincinnati Insurance Co. bought a new stake in shares of Regions Financial in the 1st quarter valued at about $74,606,000. Victory Capital Management Inc. grew its position in shares of Regions Financial by 17.1% in the 2nd quarter. Victory Capital Management Inc. now owns 2,965,126 shares of the bank’s stock worth $59,421,000 after buying an additional 433,319 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Regions Financial by 6.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,822,420 shares of the bank’s stock worth $59,384,000 after acquiring an additional 171,280 shares in the last quarter. 79.39% of the stock is currently 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.