Regions Financial Corporation (NYSE:RF) Receives $27.17 Average Target Price from Brokerages

Regions Financial Corporation (NYSE:RF) has earned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $27.33.

A number of analysts have recently commented on RF shares. Morgan Stanley boosted their price objective on Regions Financial from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Monday, July 21st. Truist Financial reissued a “hold” rating on shares of Regions Financial in a research note on Friday, May 23rd. TD Cowen started coverage on Regions Financial in a research note on Thursday, May 15th. They issued a “buy” rating and a $31.00 price objective on the stock. Keefe, Bruyette & Woods boosted their price objective on Regions Financial from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Finally, Citigroup boosted their target price on Regions Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. American National Bank & Trust increased its position in Regions Financial by 2,433.3% in the 2nd quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock worth $25,000 after purchasing an additional 1,022 shares during the last quarter. Bayforest Capital Ltd increased its position in Regions Financial by 637.3% in the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank’s stock worth $27,000 after purchasing an additional 1,058 shares during the last quarter. Millstone Evans Group LLC acquired a new position in Regions Financial in the 4th quarter worth about $32,000. Rossby Financial LCC acquired a new position in Regions Financial in the 1st quarter worth about $36,000. Finally, Groupe la Francaise acquired a new position in Regions Financial in the 1st quarter worth about $41,000. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Stock Up 0.4%

Shares of Regions Financial stock opened at $26.41 on Tuesday. The business’s fifty day moving average price is $23.16 and its two-hundred day moving average price is $22.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $23.74 billion, a P/E ratio of 12.28, a PEG ratio of 1.52 and a beta of 0.98. Regions Financial has a 1-year low of $17.74 and a 1-year high of $27.96.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, July 18th. The bank reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the business earned $0.52 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, research analysts forecast that Regions Financial will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 4.01%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, September 2nd. Regions Financial’s payout ratio is presently 49.30%.

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.