Regions Financial Corporation (NYSE:RF) Receives $29.97 Average Target Price from Analysts

Shares of Regions Financial Corporation (NYSE:RF) have been assigned an average recommendation of “Hold” from the seventeen brokerages that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $29.9688.

RF has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Regions Financial from $29.00 to $31.50 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Barclays upped their price target on shares of Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, January 5th. Piper Sandler increased their price target on Regions Financial from $29.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. Morgan Stanley set a $31.00 price objective on Regions Financial in a research report on Monday, January 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $32.00 price objective on shares of Regions Financial in a research note on Tuesday, March 3rd.

Regions Financial Stock Performance

NYSE:RF opened at $26.76 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. Regions Financial has a fifty-two week low of $17.74 and a fifty-two week high of $31.53. The company has a 50 day simple moving average of $28.66 and a two-hundred day simple moving average of $26.91. The company has a market capitalization of $23.10 billion, a PE ratio of 11.68, a P/E/G ratio of 0.95 and a beta of 1.02.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm posted $0.56 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Research analysts anticipate that Regions Financial will post 2.26 earnings per share for the current year.

Regions Financial declared that its Board of Directors has initiated a stock buyback plan on Wednesday, December 10th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the bank to repurchase up to 12.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Monday, March 2nd. Regions Financial’s payout ratio is presently 46.29%.

Insider Activity

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the transaction, the executive vice president directly owned 17,569 shares in the company, valued at approximately $505,635.82. This represents a 67.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Institutional Trading of Regions Financial

Several hedge funds have recently modified their holdings of the stock. Root Financial Partners LLC lifted its position in shares of Regions Financial by 3.9% during the 4th quarter. Root Financial Partners LLC now owns 9,148 shares of the bank’s stock valued at $248,000 after acquiring an additional 346 shares during the period. Van ECK Associates Corp grew its holdings in Regions Financial by 1.1% in the fourth quarter. Van ECK Associates Corp now owns 33,604 shares of the bank’s stock worth $911,000 after purchasing an additional 373 shares during the period. Centaurus Financial Inc. increased its stake in Regions Financial by 3.9% in the second quarter. Centaurus Financial Inc. now owns 10,230 shares of the bank’s stock valued at $241,000 after purchasing an additional 382 shares in the last quarter. Lcnb Corp increased its stake in Regions Financial by 3.8% in the fourth quarter. Lcnb Corp now owns 10,725 shares of the bank’s stock valued at $291,000 after purchasing an additional 390 shares in the last quarter. Finally, West Paces Advisors Inc. raised its holdings in shares of Regions Financial by 4.0% during the fourth quarter. West Paces Advisors Inc. now owns 10,505 shares of the bank’s stock valued at $285,000 after purchasing an additional 405 shares during the period. 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.