Barclays Cuts Regions Financial (NYSE:RF) Price Target to $24.00

Regions Financial (NYSE:RF) had its target price trimmed by Barclays from $26.00 to $24.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has an underweight rating on the bank’s stock.

Several other equities analysts have also commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Regions Financial from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Morgan Stanley cut their target price on Regions Financial from $29.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, April 7th. Wells Fargo & Company dropped their price objective on shares of Regions Financial from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Friday, March 28th. Truist Financial reduced their target price on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. Finally, Citigroup reduced their price target on Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.53.

Regions Financial Trading Up 1.3 %

Regions Financial stock opened at $20.04 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The firm’s 50 day moving average price is $21.32 and its 200-day moving average price is $23.49. Regions Financial has a 1 year low of $17.72 and a 1 year high of $27.96. The stock has a market cap of $18.15 billion, a P/E ratio of 10.33, a PEG ratio of 1.93 and a beta of 1.01.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the firm earned $0.37 EPS. On average, equities analysts predict that Regions Financial will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 2nd will be given a $0.25 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.00 annualized dividend and a dividend yield of 4.99%. Regions Financial’s dividend payout ratio (DPR) is presently 48.08%.

Insiders Place Their Bets

In related news, Director Joia M. Johnson bought 2,300 shares of Regions Financial stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the acquisition, the director now owns 17,486 shares in the company, valued at $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Regions Financial

Several large investors have recently modified their holdings of RF. Charles Schwab Investment Management Inc. raised its holdings in Regions Financial by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock worth $686,398,000 after purchasing an additional 1,396,647 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Regions Financial by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank’s stock valued at $540,284,000 after acquiring an additional 403,283 shares during the last quarter. First Trust Advisors LP increased its position in shares of Regions Financial by 7.7% during the 4th quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank’s stock worth $401,097,000 after purchasing an additional 1,224,645 shares during the last quarter. Invesco Ltd. lifted its stake in Regions Financial by 14.5% in the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank’s stock valued at $363,823,000 after acquiring an additional 1,963,954 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Regions Financial in the fourth quarter valued at approximately $279,103,000. 79.39% of the stock is currently owned by 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.