Brokerages Set Regions Financial Corporation (NYSE:RF) Price Target at $32.24

Shares of Regions Financial Corporation (NYSE:RF) have received an average rating of “Hold” from the twenty brokerages that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $32.2353.

A number of equities analysts have recently commented on RF shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $34.00 target price on shares of Regions Financial in a report on Monday, July 20th. Wells Fargo & Company raised their price objective on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, July 6th. Citigroup lifted their price objective on shares of Regions Financial from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, July 20th. DA Davidson upped their target price on shares of Regions Financial from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Finally, Stephens began coverage on shares of Regions Financial in a research note on Monday, June 15th. They set an “equal weight” rating and a $31.00 target price for the company.

Insiders Place Their Bets

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Regions Financial

Several large investors have recently modified their holdings of the stock. Root Financial Partners LLC lifted 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 worth $248,000 after buying an additional 346 shares during the period. Master S Wealth Management Inc. grew its holdings in Regions Financial by 1.0% in the 1st quarter. Master S Wealth Management Inc. now owns 38,631 shares of the bank’s stock valued at $1,009,000 after buying an additional 372 shares during the period. Van ECK Associates Corp increased its stake in shares of Regions Financial by 1.1% during the 4th quarter. Van ECK Associates Corp now owns 33,604 shares of the bank’s stock valued at $911,000 after acquiring an additional 373 shares during the last quarter. Legacy Wealth Managment LLC ID increased its stake in shares of Regions Financial by 17.3% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 2,589 shares of the bank’s stock valued at $68,000 after acquiring an additional 381 shares during the last quarter. Finally, Lcnb Corp lifted its holdings in shares of Regions Financial by 3.8% during the 4th quarter. Lcnb Corp now owns 10,725 shares of the bank’s stock worth $291,000 after acquiring an additional 390 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Up 1.7%

Shares of NYSE RF opened at $31.48 on Friday. The stock has a market cap of $26.86 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.18 and a beta of 1.00. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26. Regions Financial has a 52-week low of $22.70 and a 52-week high of $32.47. The business has a 50-day moving average price of $29.79 and a 200 day moving average price of $28.48.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 17th. The bank reported $0.68 EPS for the quarter, topping the consensus estimate of $0.63 by $0.05. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. Equities research analysts forecast that Regions Financial will post 2.63 earnings per share for the current year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 annualized dividend and a yield of 3.8%. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s dividend payout ratio (DPR) is currently 43.27%.

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.