Regions Financial (NYSE:RF) Price Target Cut to $24.00 by Analysts at Truist Financial

Regions Financial (NYSE:RF) had its price target reduced by Truist Financial from $26.00 to $24.00 in a report issued on Friday morning,Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

A number of other brokerages have also recently weighed in on RF. Barclays raised their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, January 6th. Citigroup dropped their price objective on shares of Regions Financial from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Compass Point lifted their target price on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group lifted their target price on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Piper Sandler lifted their target price on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.44.

Regions Financial Price Performance

RF stock opened at $21.68 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $23.46 and a 200-day moving average of $23.94. Regions Financial has a 12-month low of $17.72 and a 12-month high of $27.96. The company has a market cap of $19.63 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 1.93 and a beta of 1.19.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the company posted $0.39 EPS. The company’s revenue was up .2% on a year-over-year basis. As a group, equities analysts expect that Regions Financial will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.61%. Regions Financial’s dividend payout ratio (DPR) is 51.55%.

Insider Buying and Selling

In other Regions Financial news, Director Joia M. Johnson purchased 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $21.18 per share, with a total value of $48,714.00. Following the transaction, the director now owns 17,486 shares in the company, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders acquired 3,993 shares of company stock valued at $89,682. Company insiders own 0.29% of the company’s stock.

Institutional Trading of Regions Financial

A number of institutional investors have recently added to or reduced their stakes in the business. 111 Capital purchased a new position in Regions Financial in the 4th quarter valued at about $204,000. Wealth Enhancement Advisory Services LLC boosted its position in Regions Financial by 51.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 229,249 shares of the bank’s stock valued at $5,392,000 after buying an additional 77,586 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new position in Regions Financial in the 4th quarter valued at about $307,000. Siemens Fonds Invest GmbH boosted its position in Regions Financial by 345.8% in the 4th quarter. Siemens Fonds Invest GmbH now owns 44,148 shares of the bank’s stock valued at $1,038,000 after buying an additional 34,244 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Regions Financial in the 4th quarter valued at about $16,421,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

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.