Regions Financial Corporation (NYSE:RF) Receives Average Rating of “Hold” from Brokerages

Regions Financial Corporation (NYSE:RF) has been assigned an average rating of “Hold” from the eighteen analysts that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $30.7333.

Several brokerages recently issued reports on RF. Cantor Fitzgerald restated an “overweight” rating and set a $32.00 price target on shares of Regions Financial in a research note on Tuesday, March 3rd. JPMorgan Chase & Co. lowered their price target on Regions Financial from $31.50 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. DA Davidson boosted their price target on Regions Financial from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Piper Sandler lowered their price objective on Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a research note on Monday, March 30th. Finally, Morgan Stanley lowered their price objective on Regions Financial from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st.

Regions Financial Trading Up 1.4%

Shares of RF opened at $29.01 on Friday. Regions Financial has a 12-month low of $21.40 and a 12-month high of $31.53. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $24.75 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 1.12 and a beta of 1.00. The stock’s 50-day moving average price is $27.88 and its 200 day moving average price is $27.71.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, April 17th. The bank reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the previous year, the company posted $0.54 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, research analysts predict that Regions Financial will post 2.6 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, June 1st. Regions Financial’s dividend payout ratio is currently 44.17%.

Insider Buying and Selling at Regions Financial

In other news, EVP Brian R. Willman sold 7,014 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Regions Financial

Several large investors have recently modified their holdings of RF. Norges Bank bought a new stake in shares of Regions Financial in the 4th quarter valued at approximately $254,564,000. Victory Capital Management Inc. boosted its holdings in shares of Regions Financial by 68.9% in the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock worth $618,860,000 after acquiring an additional 9,312,449 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Regions Financial by 75.7% in the 1st quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock worth $348,936,000 after acquiring an additional 5,754,487 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in shares of Regions Financial by 286.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank’s stock worth $106,061,000 after acquiring an additional 2,980,505 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Regions Financial by 151.2% in the 3rd quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank’s stock worth $103,886,000 after acquiring an additional 2,371,048 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors.

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.