Regions Financial (NYSE:RF) Price Target Increased to $21.00 by Analysts at Piper Sandler

Regions Financial (NYSE:RF) had its target price increased by Piper Sandler from $20.00 to $21.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a neutral rating on the bank’s stock.

RF has been the topic of several other reports. Citigroup raised Regions Financial from a neutral rating to a buy rating and upped their target price for the company from $20.00 to $23.00 in a research report on Monday, March 18th. Royal Bank of Canada raised their price objective on Regions Financial from $19.00 to $21.00 and gave the stock an outperform rating in a research note on Monday, January 22nd. Truist Financial dropped their target price on Regions Financial from $22.00 to $20.00 and set a hold rating on the stock in a research report on Monday, April 22nd. Jefferies Financial Group raised shares of Regions Financial from a hold rating to a buy rating and raised their price target for the stock from $15.00 to $22.00 in a research report on Tuesday, January 9th. Finally, Evercore ISI upped their price objective on shares of Regions Financial from $20.00 to $22.00 and gave the company an in-line rating in a report on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Regions Financial currently has a consensus rating of Hold and a consensus price target of $20.34.

Regions Financial Trading Up 0.2 %

Regions Financial stock opened at $19.66 on Friday. Regions Financial has a one year low of $13.72 and a one year high of $21.08. The stock has a market cap of $18.06 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 1.43 and a beta of 1.21. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a 50-day moving average of $19.46 and a two-hundred day moving average of $18.14.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.08). The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 earnings per share. On average, research analysts anticipate that Regions Financial will post 1.95 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.88%. The ex-dividend date is Friday, May 31st. Regions Financial’s payout ratio is currently 52.17%.

Insider Activity

In related news, Director William C. Rhodes III purchased 50,000 shares of Regions Financial stock in a transaction that occurred on Tuesday, April 23rd. The stock was purchased at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the transaction, the director now directly owns 50,000 shares in the company, valued at $968,500. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Regions Financial

Large investors have recently made changes to their positions in the company. Advisor Resource Council acquired a new position in shares of Regions Financial during the 4th quarter worth approximately $1,944,000. Vestmark Advisory Solutions Inc. boosted its stake in Regions Financial by 126.3% during the third quarter. Vestmark Advisory Solutions Inc. now owns 26,436 shares of the bank’s stock worth $455,000 after buying an additional 14,756 shares during the last quarter. abrdn plc grew its holdings in Regions Financial by 17.0% in the 4th quarter. abrdn plc now owns 2,350,151 shares of the bank’s stock valued at $45,546,000 after buying an additional 341,878 shares in the last quarter. LPL Financial LLC grew its holdings in Regions Financial by 19.6% in the 3rd quarter. LPL Financial LLC now owns 582,491 shares of the bank’s stock valued at $10,019,000 after buying an additional 95,271 shares in the last quarter. Finally, Vaughan David Investments LLC IL increased its stake in shares of Regions Financial by 48.9% in the 4th quarter. Vaughan David Investments LLC IL now owns 2,470,891 shares of the bank’s stock worth $47,886,000 after acquiring an additional 811,174 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

About Regions Financial

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.