Analysts Set Regions Financial Corporation (NYSE:RF) Target Price at $29.91

Regions Financial Corporation (NYSE:RF) has earned a consensus rating of “Hold” from the eighteen ratings firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $29.9063.

RF has been the subject of a number of recent analyst reports. Truist Financial cut their price target on shares of Regions Financial from $29.00 to $28.00 and set a “hold” rating for the company in a report on Monday, March 23rd. Brean Capital began coverage on shares of Regions Financial in a research report on Thursday, March 12th. They set a “neutral” rating for the company. Wells Fargo & Company cut Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 target price for the company. in a research note on Friday, January 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Regions Financial in a report on Monday, December 29th. Finally, Barclays lifted their price target on Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, January 5th.

Insider Buying and Selling

In other news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total value of $1,036,080.00. Following the completion of the transaction, the executive vice president owned 17,569 shares of the company’s stock, valued at approximately $505,635.82. This represents a 67.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Regions Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Darwin Wealth Management LLC bought a new position in Regions Financial in the 2nd quarter valued at approximately $25,000. United Community Bank bought a new stake in shares of Regions Financial during the third quarter worth $30,000. SouthState Bank Corp grew its stake in shares of 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 buying an additional 538 shares during the last quarter. Salomon & Ludwin LLC acquired a new position in shares of Regions Financial during the third quarter worth $32,000. Finally, Spire Wealth Management increased its holdings in shares of 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 buying an additional 557 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

Regions Financial Trading Up 3.4%

RF opened at $26.09 on Friday. Regions Financial has a twelve month low of $17.74 and a twelve month high of $31.53. The company has a 50-day simple moving average of $27.89 and a 200 day simple moving average of $26.73. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $22.53 billion, a price-to-earnings ratio of 11.39, a P/E/G ratio of 0.91 and a beta of 1.02.

Regions Financial (NYSE:RF) last released its earnings results on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.04). The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. Regions Financial’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 earnings per share. Analysts predict that Regions Financial will post 2.26 EPS for the current fiscal year.

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 given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Monday, March 2nd. Regions Financial’s payout ratio is currently 46.29%.

Regions Financial declared that its board has initiated a share 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 reacquire up to 12.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.