Brokerages Set Regions Financial Corporation (NYSE:RF) Price Target at $28.00

Shares of Regions Financial Corporation (NYSE:RF) have been assigned a consensus rating of “Hold” from the sixteen ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $28.00.

A number of equities analysts have recently weighed in on the stock. Morgan Stanley set a $32.00 price target on shares of Regions Financial in a research note on Monday, September 29th. Keefe, Bruyette & Woods boosted their price objective on shares of Regions Financial from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Wall Street Zen cut shares of Regions Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Evercore ISI boosted their price target on Regions Financial from $28.00 to $29.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Regions Financial in a report on Wednesday, October 8th.

Hedge Funds Weigh In On Regions Financial

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

Regions Financial Stock Performance

Shares of RF stock opened at $27.64 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. The stock has a 50 day simple moving average of $25.24 and a 200-day simple moving average of $25.23. The company has a market cap of $24.24 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 1.23 and a beta of 1.04. Regions Financial has a 12-month low of $17.74 and a 12-month high of $27.98.

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

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be given a $0.265 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.8%. Regions Financial’s dividend payout ratio (DPR) is currently 46.70%.

Regions Financial declared that its Board of Directors has authorized a share repurchase plan on Wednesday, December 10th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits 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.

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.