Regions Financial (NYSE:RF) Price Target Raised to $32.00

Regions Financial (NYSE:RF) had its price target increased by JPMorgan Chase & Co. from $31.50 to $32.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

RF has been the subject of a number of other research reports. Keefe, Bruyette & Woods upped their price target on Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. DA Davidson upped their target price on Regions Financial from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Morgan Stanley boosted their price target on Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Weiss Ratings restated a “buy (b)” rating on shares of Regions Financial in a research report on Friday, July 17th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $34.00 price objective on shares of Regions Financial in a research report on Monday, July 20th. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $32.24.

Regions Financial Stock Up 0.5%

RF opened at $31.01 on Wednesday. Regions Financial has a fifty-two week low of $22.70 and a fifty-two week high of $32.47. The firm’s fifty day moving average price is $29.71 and its two-hundred day moving average price is $28.45. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $26.46 billion, a P/E ratio of 12.66, a P/E/G ratio of 1.18 and a beta of 1.00.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 earnings per share. On average, analysts anticipate that Regions Financial will post 2.63 EPS 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 given a $0.30 dividend. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial’s payout ratio is presently 43.27%.

Insiders Place Their Bets

In related news, EVP Brian R. Willman sold 7,014 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Darwin Wealth Management LLC purchased a new stake in Regions Financial during the second quarter valued at about $25,000. SouthState Bank Corp increased its holdings in shares of Regions Financial by 94.1% in the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock worth $30,000 after buying an additional 538 shares during the period. Princeton Global Asset Management LLC lifted its stake in shares of Regions Financial by 260.4% in the 4th quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock valued at $32,000 after acquiring an additional 854 shares during the last quarter. Spire Wealth Management lifted its position in Regions Financial by 91.5% in the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock valued at $32,000 after purchasing an additional 557 shares during the last quarter. Finally, Leonteq Securities AG purchased a new stake in shares of Regions Financial during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

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.