Regions Financial (NYSE:RF) Price Target Raised to $31.00

Regions Financial (NYSE:RF) had its price objective upped by JPMorgan Chase & Co. from $30.50 to $31.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the bank’s stock.

Several other equities research analysts have also weighed in on the stock. UBS Group lowered their target price on shares of Regions Financial from $33.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Brean Capital raised Regions Financial from a “neutral” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Monday, October 19th. Truist Financial dropped their price objective on Regions Financial from $31.00 to $30.00 and set a “hold” rating for the company in a report on Tuesday, October 20th. Stephens reiterated an “outperform” rating on shares of Regions Financial in a research report on Monday, October 19th. Finally, Robert W. Baird raised shares of Regions Financial from an “underperform” rating to a “neutral” rating and set a $28.00 target price on the stock in a report on Friday, September 18th. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Regions Financial presently has an average rating of “Hold” and an average price target of $31.00.

Regions Financial Trading Up 0.1%

Shares of RF opened at $28.59 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.82 and a quick ratio of 0.81. Regions Financial has a 12 month low of $23.59 and a 12 month high of $32.47. The stock’s 50-day moving average is $28.53 and its two-hundred day moving average is $28.68. The stock has a market cap of $24.36 billion, a PE ratio of 11.21, a P/E/G ratio of 1.15 and a beta of 1.01.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, October 16th. The bank reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.06. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Regions Financial had a return on equity of 13.43% and a net margin of 23.97%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 EPS. Equities analysts forecast that Regions Financial will post 2.70 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.2%. The ex-dividend date is Tuesday, December 1st. Regions Financial’s dividend payout ratio (DPR) is currently 47.06%.

Hedge Funds Weigh In On Regions Financial

A number of large investors have recently made changes to their positions in the business. Nykredit A S acquired a new position in shares of Regions Financial during the 2nd quarter worth approximately $236,756,000. Bank of America Corp DE acquired a new position in Regions Financial in the second quarter valued at $219,068,000. First Trust Advisors LP increased its stake in Regions Financial by 75.7% in the first quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock valued at $348,936,000 after purchasing an additional 5,754,487 shares during the period. Legal & General Group Plc acquired a new stake in shares of Regions Financial during the second quarter worth $163,654,000. Finally, Korea Investment CORP acquired a new position in Regions Financial during the 2nd quarter worth approximately $99,190,000. 79.39% of the stock is owned by institutional investors and hedge funds.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumers, businesses, institutions and governments.

Regions Bank offers checking and savings accounts, consumer and commercial loans, credit products, mortgages, treasury and cash-management services, investment and wealth-management solutions, and insurance-related services.