Regions Financial (NYSE:RF) Sets New 12-Month High – Here’s What Happened

Regions Financial Corporation (NYSE:RF)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $28.31 and last traded at $28.3070, with a volume of 1068229 shares trading hands. The stock had previously closed at $27.56.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RF. Citigroup upped their price objective on shares of Regions Financial from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Truist Financial lifted their price objective on Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a report on Monday, December 22nd. Keefe, Bruyette & Woods increased their target price on Regions Financial from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Weiss Ratings restated a “buy (b)” rating on shares of Regions Financial in a research report on Monday, December 29th. Finally, Stephens reissued an “equal weight” rating and issued a $27.00 price objective (down from $30.00) on shares of Regions Financial in a research note on Tuesday, October 14th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $28.43.

Regions Financial Trading Up 3.1%

The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average is $25.89 and its 200-day moving average is $25.63. The stock has a market capitalization of $24.91 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 1.12 and a beta of 1.03.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share (EPS) for the quarter. Regions Financial had a net margin of 22.49% and a return on equity of 13.05%. The business had revenue of $1.81 billion during the quarter. Research analysts anticipate that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Monday, December 1st. Regions Financial’s dividend payout ratio is 46.70%.

Regions Financial declared that its Board of Directors has approved a share repurchase plan on Wednesday, December 10th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the bank to repurchase up to 12.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RF. American National Bank & Trust lifted its holdings in Regions Financial by 2,433.3% during the 2nd quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock worth $25,000 after buying an additional 1,022 shares in the last quarter. CVA Family Office LLC grew its stake in Regions Financial by 163.2% during the 2nd quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock worth $25,000 after purchasing an additional 656 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in Regions Financial during the 2nd quarter worth about $25,000. Bayforest Capital Ltd raised 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 valued at $27,000 after purchasing an additional 1,058 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in shares of Regions Financial in the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Company Profile

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.