Regions Financial (NYSE:RF) Hits New 52-Week High – Should You Buy?

Regions Financial Corporation (NYSE:RF)’s stock price hit a new 52-week high on Monday . The stock traded as high as $28.31 and last traded at $28.3070, with a volume of 1068229 shares trading hands. The stock had previously closed at $27.56.

Analysts Set New Price Targets

A number of analysts have weighed in on RF shares. Evercore ISI raised their price target on Regions Financial from $28.00 to $29.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a research report on Monday, December 29th. Wall Street Zen downgraded Regions Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Citigroup raised their price objective on shares of Regions Financial from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Finally, Keefe, Bruyette & Woods upped their target price on shares of Regions Financial from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $28.43.

Regions Financial Trading Up 3.1%

The business’s 50 day simple moving average is $25.89 and its 200 day simple moving average is $25.63. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.82 and a quick ratio of 0.81. The company has a market capitalization of $24.91 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 1.12 and a beta of 1.03.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share (EPS) for the quarter. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%.The firm had revenue of $1.81 billion for the quarter. Research analysts anticipate that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were issued a $0.265 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.06 annualized dividend and a dividend yield of 3.7%. Regions Financial’s payout ratio is presently 46.70%.

Regions Financial declared that its Board of Directors has initiated a share repurchase program on Wednesday, December 10th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the bank to purchase up to 12.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Regions Financial

A number of institutional investors have recently added to or reduced their stakes in the business. American National Bank & Trust raised its stake in shares of Regions Financial by 2,433.3% during the 2nd quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock worth $25,000 after buying an additional 1,022 shares in the last quarter. CVA Family Office LLC boosted its stake in shares of Regions Financial by 163.2% in the second quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock valued at $25,000 after buying an additional 656 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Regions Financial during the second quarter worth $25,000. Bayforest Capital Ltd raised its position in Regions Financial by 637.3% in the first quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank’s stock worth $27,000 after acquiring an additional 1,058 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in Regions Financial in the second quarter valued at $30,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

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.