Regions Financial (NYSE:RF) Share Price Passes Above 200 Day Moving Average – What’s Next?

Shares of Regions Financial Co. (NYSE:RF) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $23.00 and traded as high as $23.85. Regions Financial shares last traded at $23.52, with a volume of 7,412,465 shares.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RF. Truist Financial lifted their price objective on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Compass Point increased their price objective on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. DA Davidson boosted their target price on shares of Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods upgraded shares of Regions Financial from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $27.00 to $28.00 in a research note on Thursday, October 31st. Finally, Barclays boosted their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $27.61.

Regions Financial Trading Up 1.5 %

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 $21.47 billion, a P/E ratio of 13.34, a P/E/G ratio of 2.64 and a beta of 1.21. The stock’s 50-day moving average is $25.19 and its two-hundred day moving average is $23.00.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the firm earned $0.49 EPS. Regions Financial’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, equities research analysts predict that Regions Financial Co. will post 2.12 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend was Monday, December 2nd. Regions Financial’s payout ratio is 56.50%.

Institutional Trading of Regions Financial

A number of large investors have recently made changes to their positions in RF. American National Bank & Trust boosted its holdings in shares of Regions Financial by 1,856.7% in the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock valued at $27,000 after buying an additional 1,114 shares in the last quarter. Quarry LP grew its stake in Regions Financial by 157.2% during the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after purchasing an additional 816 shares during the last quarter. Truvestments Capital LLC purchased a new position in Regions Financial during the 3rd quarter worth approximately $37,000. Legacy Investment Solutions LLC acquired a new position in Regions Financial during the third quarter valued at $37,000. Finally, Benjamin Edwards Inc. raised its position in Regions Financial by 47.0% during the second quarter. Benjamin Edwards Inc. now owns 2,027 shares of the bank’s stock valued at $41,000 after acquiring an additional 648 shares in the last quarter. 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.