Regions Financial (NYSE:RF) Given New $33.00 Price Target at The Goldman Sachs Group

Regions Financial (NYSE:RF) had its price objective raised by The Goldman Sachs Group from $29.00 to $33.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the bank’s stock.

Several other research firms also recently issued reports on RF. Truist Financial lifted their price objective on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods upgraded Regions Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $27.00 to $28.00 in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised Regions Financial from a “hold” rating to a “buy” rating and upped their price target for the company from $24.00 to $26.00 in a research report on Thursday, October 24th. Morgan Stanley increased their target price on shares of Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Wedbush raised their target price on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Regions Financial has a consensus rating of “Moderate Buy” and an average price target of $26.71.

Regions Financial Stock Down 0.2 %

Shares of NYSE:RF opened at $27.25 on Tuesday. The company has a market capitalization of $24.77 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 2.85 and a beta of 1.16. The company has a 50 day moving average of $24.42 and a two-hundred day moving average of $22.03. Regions Financial has a 52-week low of $15.82 and a 52-week high of $27.96. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period last year, the firm earned $0.49 EPS. As a group, analysts forecast that Regions Financial will post 2.12 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.67%. Regions Financial’s payout ratio is currently 56.50%.

Institutional Investors Weigh In On Regions Financial

A number of institutional investors and hedge funds have recently modified their holdings of RF. State Street Corp boosted its holdings in shares of Regions Financial by 16.3% in the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after buying an additional 7,791,399 shares during the period. National Bank of Canada FI lifted its holdings in shares of Regions Financial by 575.8% in the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock valued at $39,784,000 after purchasing an additional 1,452,956 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Regions Financial by 13.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock valued at $201,238,000 after purchasing an additional 1,014,706 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Regions Financial by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after buying an additional 979,597 shares in the last quarter. Finally, Swedbank AB acquired a new position in Regions Financial during the first quarter valued at $19,322,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Company Profile

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.