Regions Financial (NYSE:RF) Price Target Raised to $26.00 at Citigroup

Regions Financial (NYSE:RF) had its price objective raised by Citigroup from $25.00 to $26.00 in a report issued on Thursday morning, Benzinga reports. They currently have a buy rating on the bank’s stock.

A number of other brokerages also recently commented on RF. Keefe, Bruyette & Woods lowered their price objective on Regions Financial from $22.00 to $21.00 and set a market perform rating for the company in a research note on Tuesday, July 9th. Bank of America upped their price objective on Regions Financial from $22.00 to $25.00 and gave the stock a neutral rating in a research note on Monday, July 22nd. Morgan Stanley upped their price objective on Regions Financial from $25.00 to $28.00 and gave the stock an overweight rating in a research note on Tuesday, July 30th. Wells Fargo & Company upped their price objective on Regions Financial from $18.00 to $22.00 and gave the stock an equal weight rating in a research note on Monday, July 22nd. Finally, Truist Financial upped their price objective on Regions Financial from $21.00 to $23.00 and gave the stock a hold rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $21.57.

Regions Financial Price Performance

Shares of NYSE RF opened at $23.37 on Thursday. Regions Financial has a twelve month low of $13.72 and a twelve month high of $23.47. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $21.40 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 2.82 and a beta of 1.17. The business has a 50 day simple moving average of $22.02 and a 200-day simple moving average of $20.39.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the business earned $0.59 EPS. The business’s quarterly revenue was down 11.5% on a year-over-year basis. As a group, equities research analysts expect that Regions Financial will post 2 earnings per share for the current year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a $0.25 dividend. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 4.28%. Regions Financial’s dividend payout ratio is 54.35%.

Institutional Trading of Regions Financial

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Regions Financial by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after buying an additional 3,119,237 shares during the period. Bessemer Group Inc. raised its position in shares of Regions Financial by 281.7% during the first quarter. Bessemer Group Inc. now owns 79,593 shares of the bank’s stock worth $1,675,000 after purchasing an additional 58,739 shares during the period. Public Employees Retirement Association of Colorado raised its position in shares of Regions Financial by 1,676.8% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 93,711 shares of the bank’s stock worth $1,816,000 after purchasing an additional 88,437 shares during the period. UniSuper Management Pty Ltd raised its position in shares of Regions Financial by 1,075.7% during the first quarter. UniSuper Management Pty Ltd now owns 44,781 shares of the bank’s stock worth $942,000 after purchasing an additional 40,972 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of Regions Financial by 30.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 415,105 shares of the bank’s stock worth $8,734,000 after purchasing an additional 98,003 shares during the period. 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.