Regions Financial (NYSE:RF) Upgraded by Argus to Buy

Argus upgraded shares of Regions Financial (NYSE:RF) from a hold rating to a buy rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. They currently have $26.00 price target on the bank’s stock.

RF has been the subject of a number of other reports. Truist Financial boosted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Wedbush increased their price objective on Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft upgraded Regions Financial from a “hold” rating to a “buy” rating and raised their target price for the company from $24.00 to $26.00 in a research report on Thursday. Jefferies Financial Group boosted their price target on Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods decreased their price target on Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $24.78.

Regions Financial Trading Down 1.1 %

Shares of NYSE RF opened at $23.50 on Thursday. Regions Financial has a 12-month low of $13.95 and a 12-month high of $24.47. The company has a market cap of $21.52 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 2.54 and a beta of 1.17. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. The stock’s 50 day simple moving average is $22.91 and its 200 day simple moving average is $21.00.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the business earned $0.49 earnings per share. Regions Financial’s quarterly revenue was down 3.7% on a year-over-year basis. Equities research analysts expect that Regions Financial will post 2.05 EPS for the current year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 4.26%. Regions Financial’s dividend payout ratio is currently 54.35%.

Institutional Investors Weigh In On Regions Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. raised its holdings in Regions Financial by 281.7% during the 1st quarter. Bessemer Group Inc. now owns 79,593 shares of the bank’s stock worth $1,675,000 after buying an additional 58,739 shares during the period. UniSuper Management Pty Ltd raised its holdings in shares of Regions Financial by 1,075.7% during the first quarter. UniSuper Management Pty Ltd now owns 44,781 shares of the bank’s stock valued at $942,000 after acquiring an additional 40,972 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Regions Financial by 30.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 415,105 shares of the bank’s stock valued at $8,734,000 after acquiring an additional 98,003 shares during the period. Swedbank AB purchased a new stake in shares of Regions Financial in the 1st quarter valued at approximately $19,322,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in Regions Financial in the 1st quarter worth approximately $33,829,000. 79.39% of the stock is owned by institutional investors and hedge funds.

About Regions Financial

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.