Regions Financial (NYSE:RF) Price Target Raised to $33.00

Regions Financial (NYSE:RF) had its target price lifted by Keefe, Bruyette & Woods from $32.00 to $33.00 in a report issued on Monday morning,Benzinga reports. They currently have a market perform rating on the bank’s stock.

A number of other equities research analysts have also recently weighed in on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $34.00 price target on shares of Regions Financial in a research note on Monday. Robert W. Baird reiterated an “underperform” rating and issued a $28.00 price target on shares of Regions Financial in a research note on Monday, July 6th. Wells Fargo & Company increased their price target on shares of Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, July 6th. DA Davidson downgraded shares of Regions Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $35.00 to $33.00 in a research report on Monday, July 6th. Finally, Jefferies Financial Group restated a “hold” rating and set a $32.00 price objective on shares of Regions Financial in a report on Friday, July 17th. Six research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, Regions Financial currently has an average rating of “Hold” and a consensus price target of $32.21.

Regions Financial Price Performance

NYSE:RF opened at $30.87 on Monday. The stock’s 50-day simple moving average is $29.20 and its 200 day simple moving average is $28.33. Regions Financial has a 52-week low of $22.70 and a 52-week high of $32.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $26.35 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.19 and a beta of 1.00.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the company earned $0.60 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. As a group, sell-side analysts forecast that Regions Financial will post 2.61 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Tuesday, September 1st. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s dividend payout ratio (DPR) is currently 43.27%.

Insider Activity at Regions Financial

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

Hedge Funds Weigh In On Regions Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Darwin Wealth Management LLC acquired a new stake in shares of Regions Financial during the 2nd quarter worth $25,000. SouthState Bank Corp lifted its position in Regions Financial by 94.1% during the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock worth $30,000 after purchasing an additional 538 shares during the period. Spire Wealth Management lifted its position in Regions Financial by 91.5% during the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock worth $32,000 after purchasing an additional 557 shares during the period. Princeton Global Asset Management LLC grew its stake in Regions Financial by 260.4% during the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock worth $32,000 after buying an additional 854 shares in the last quarter. Finally, Leonteq Securities AG acquired a new stake in Regions Financial during the fourth quarter worth about $33,000. 79.39% of the stock is 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.