Regions Financial (NYSE:RF) Given New $30.00 Price Target at Citigroup

Regions Financial (NYSE:RF) had its price target increased by Citigroup from $26.00 to $30.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the bank’s stock.

Several other equities analysts have also weighed in on RF. Wells Fargo & Company lifted their target price on shares of Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. Morgan Stanley upped their target price on Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upgraded Regions Financial from a “hold” rating to a “buy” rating and raised their target price for the company from $24.00 to $26.00 in a report on Thursday, October 24th. Evercore ISI upped their price target on Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Finally, Truist Financial lifted their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.41.

Regions Financial Price Performance

RF stock opened at $27.28 on Thursday. The company has a market cap of $24.79 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 2.77 and a beta of 1.16. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average price of $24.05 and a two-hundred day moving average price of $21.84. Regions Financial has a 12-month low of $15.79 and a 12-month high of $27.32.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.49 EPS. As a group, research analysts predict that Regions Financial will post 2.12 EPS for the current year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s dividend payout ratio is currently 56.50%.

Institutional Investors Weigh In On Regions Financial

Several institutional investors and hedge funds have recently made changes to their positions in RF. EntryPoint Capital LLC bought a new position in Regions Financial in the first quarter worth about $26,000. American National Bank & Trust raised its position in shares of Regions Financial by 1,856.7% during the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after purchasing an additional 1,114 shares during the period. Quarry LP lifted its holdings in shares of Regions Financial by 157.2% in the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after purchasing an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Regions Financial by 530.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,256 shares during the period. Finally, Innealta Capital LLC bought a new position in Regions Financial during the 2nd quarter worth $32,000. 79.39% of the stock is owned by institutional investors and hedge funds.

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.