Analysts Set Regions Financial Corporation (NYSE:RF) PT at $30.47

Shares of Regions Financial Corporation (NYSE:RF) have received a consensus rating of “Hold” from the eighteen ratings firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $30.7333.

RF has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on Regions Financial from $31.50 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Piper Sandler reduced their target price on Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, March 30th. Morgan Stanley reduced their target price on Regions Financial from $37.00 to $34.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $32.00 target price on shares of Regions Financial in a report on Tuesday, March 3rd. Finally, Truist Financial reaffirmed a “hold” rating and issued a $30.00 target price on shares of Regions Financial in a report on Tuesday, April 21st.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Regions Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Root Financial Partners LLC raised its position in Regions Financial by 3.9% during the fourth quarter. Root Financial Partners LLC now owns 9,148 shares of the bank’s stock valued at $248,000 after purchasing an additional 346 shares during the period. Master S Wealth Management Inc. raised its position in Regions Financial by 1.0% during the first quarter. Master S Wealth Management Inc. now owns 38,631 shares of the bank’s stock valued at $1,009,000 after purchasing an additional 372 shares during the period. Van ECK Associates Corp raised its position in Regions Financial by 1.1% during the fourth quarter. Van ECK Associates Corp now owns 33,604 shares of the bank’s stock valued at $911,000 after purchasing an additional 373 shares during the period. Legacy Wealth Managment LLC ID raised its position in Regions Financial by 17.3% during the first quarter. Legacy Wealth Managment LLC ID now owns 2,589 shares of the bank’s stock valued at $68,000 after purchasing an additional 381 shares during the period. Finally, Lcnb Corp raised its position in Regions Financial by 3.8% during 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 during the period. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Stock Performance

RF stock opened at $28.63 on Friday. The company has a market cap of $24.43 billion, a P/E ratio of 11.93, a price-to-earnings-growth ratio of 1.12 and a beta of 1.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80. The stock’s fifty day moving average price is $27.96 and its 200-day moving average price is $27.76. Regions Financial has a 1 year low of $21.99 and a 1 year high of $31.53.

Regions Financial (NYSE:RF) last released its earnings results on Friday, April 17th. The bank reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. Regions Financial’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.54 EPS. On average, equities analysts forecast that Regions Financial will post 2.6 earnings per share for the current year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, June 1st. Regions Financial’s payout ratio is 44.17%.

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.