Regions Financial (NYSE:RF) Sets New 12-Month High – Here’s What Happened

Regions Financial Corporation (NYSE:RF)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $29.70 and last traded at $29.5730, with a volume of 844081 shares trading hands. The stock had previously closed at $29.12.

Analyst Ratings Changes

A number of equities analysts have weighed in on RF shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $31.00 price objective on shares of Regions Financial in a research report on Tuesday, January 20th. Wall Street Zen downgraded shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Morgan Stanley set a $31.00 price target on shares of Regions Financial in a research note on Monday, January 19th. Truist Financial boosted their price objective on Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a research note on Monday, December 22nd. Finally, Piper Sandler increased their target price on Regions Financial from $29.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Regions Financial presently has an average rating of “Hold” and an average target price of $29.27.

Regions Financial Stock Up 1.3%

The business has a 50 day simple moving average of $27.45 and a 200-day simple moving average of $26.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $25.86 billion, a price-to-earnings ratio of 12.91, a P/E/G ratio of 1.01 and a beta of 1.04.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the firm earned $0.56 earnings per share. Regions Financial’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities analysts expect that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial declared that its Board of Directors has approved a stock buyback plan on Wednesday, December 10th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the bank to buy up to 12.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, EVP William D. Ritter sold 36,000 shares of the business’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total value of $1,036,080.00. Following the sale, the executive vice president directly owned 17,569 shares in the company, valued at approximately $505,635.82. The trade was a 67.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Regions Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Darwin Wealth Management LLC purchased a new position in shares of Regions Financial during the 2nd quarter worth approximately $25,000. CVA Family Office LLC lifted its stake in Regions Financial by 163.2% during the second quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock worth $25,000 after purchasing an additional 656 shares in the last quarter. United Community Bank purchased a new position in shares of Regions Financial during the third quarter worth $30,000. Spire Wealth Management boosted its position in shares of Regions Financial by 91.5% during the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock worth $32,000 after buying an additional 557 shares during the period. Finally, Princeton Global Asset Management LLC grew its stake in shares of Regions Financial by 260.4% in the fourth quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock valued at $32,000 after buying an additional 854 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

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.