Regions Financial Corporation (NYSE:RF) Receives $32.24 Consensus PT from Analysts

Shares of Regions Financial Corporation (NYSE:RF) have received an average recommendation of “Hold” from the twenty brokerages that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $32.2353.

Several research analysts recently commented on the company. DA Davidson increased their price target on Regions Financial from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Morgan Stanley boosted their price target on Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Truist Financial upped their price objective on Regions Financial from $30.00 to $34.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Cantor Fitzgerald increased their price objective on Regions Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Finally, Stephens initiated coverage on shares of Regions Financial in a research note on Monday, June 15th. They issued an “equal weight” rating and a $31.00 target price for the company.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System lifted its stake in Regions Financial by 2,881.1% in the 2nd quarter. California State Teachers Retirement System now owns 37,003,849 shares of the bank’s stock valued at $1,225,293,000 after purchasing an additional 35,762,549 shares during the last quarter. Norges Bank acquired a new position in Regions Financial during the fourth quarter worth approximately $254,564,000. Victory Capital Management Inc. increased its position in Regions Financial by 68.9% during the fourth quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock worth $618,860,000 after buying an additional 9,312,449 shares during the last quarter. Nykredit A S bought a new stake in Regions Financial in the second quarter valued at approximately $236,756,000. Finally, Bank of America Corp DE bought a new stake in Regions Financial in the second quarter valued at approximately $219,068,000. Institutional investors own 79.39% of the company’s stock.

Regions Financial Price Performance

RF stock opened at $30.35 on Wednesday. The firm has a market cap of $25.86 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.16 and a beta of 1.00. The firm’s fifty day moving average is $30.84 and its 200 day moving average is $28.81. Regions Financial has a 52 week low of $22.70 and a 52 week high of $32.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 EPS. Research analysts predict that Regions Financial will post 2.63 earnings per share for the current year.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.30 dividend. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Tuesday, September 1st. Regions Financial’s dividend payout ratio is 43.27%.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.