Brokerages Set Regions Financial Corporation (NYSE:RF) Target Price at $31.16

Regions Financial Corporation (NYSE:RF) has earned a consensus rating of “Hold” from the nineteen research firms that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $31.1562.

Several brokerages recently weighed in on RF. Robert W. Baird reaffirmed an “underperform” rating and issued a $28.00 target price on shares of Regions Financial in a research report on Monday, July 6th. Evercore restated an “underperform” rating and issued a $31.00 price objective on shares of Regions Financial in a report on Monday, July 6th. Piper Sandler decreased their target price on Regions Financial from $31.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, March 30th. JPMorgan Chase & Co. increased their target price on shares of Regions Financial from $29.00 to $31.50 and gave the stock a “neutral” rating in a research report on Monday, July 6th. Finally, Royal Bank Of Canada raised their price target on shares of Regions Financial from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, April 20th.

Regions Financial Trading Up 0.1%

Shares of RF stock opened at $31.05 on Tuesday. The firm has a market cap of $26.49 billion, a P/E ratio of 12.94, a PEG ratio of 1.20 and a beta of 1.00. Regions Financial has a 1-year low of $22.70 and a 1-year high of $31.53. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80. The firm’s 50-day simple moving average is $28.66 and its 200-day simple moving average is $28.13.

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

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were given a $0.265 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.06 annualized dividend and a dividend yield of 3.4%. Regions Financial’s dividend payout ratio is presently 44.17%.

Insider Activity

In other news, EVP Brian R. Willman sold 7,014 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.34% of the stock is owned by insiders.

Institutional Trading of Regions Financial

Large investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC boosted its position in shares of Regions Financial by 7.2% in the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock worth $416,000 after buying an additional 1,278 shares during the period. Woodline Partners LP raised its holdings in shares of Regions Financial by 40.7% during the 1st quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock valued at $1,669,000 after buying an additional 22,216 shares during the period. Baird Financial Group Inc. raised its holdings in shares of Regions Financial by 0.7% during the 2nd quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock valued at $1,687,000 after buying an additional 511 shares during the period. Federated Hermes Inc. lifted its position in Regions Financial by 81.2% during the 2nd quarter. Federated Hermes Inc. now owns 11,677 shares of the bank’s stock worth $275,000 after acquiring an additional 5,233 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Regions Financial by 5.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank’s stock worth $3,320,000 after acquiring an additional 6,690 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

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.