Morgan Stanley reiterated their equal weight rating on shares of Regions Financial (NYSE:RF – Free Report) in a research report report published on Monday morning, MarketBeat reports. Morgan Stanley currently has a $32.00 price target on the bank’s stock, up from their previous price target of $28.00.
A number of other brokerages have also recently commented on RF. Keefe, Bruyette & Woods raised Regions Financial from a “market perform” rating to an “outperform” rating and upped their price target for the company from $27.00 to $28.00 in a research note on Thursday, October 31st. Citigroup upped their target price on shares of Regions Financial from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Wells Fargo & Company upped their price objective on shares of Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. Finally, Barclays lifted their target price on Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.41.
Check Out Our Latest Analysis on RF
Regions Financial Trading Down 2.0 %
Regions Financial (NYSE:RF – Get Free Report) last posted its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. On average, analysts predict that Regions Financial will post 2.12 EPS for the current year.
Regions Financial Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s dividend payout ratio is currently 56.50%.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of RF. American National Bank & Trust boosted its holdings in shares of Regions Financial by 1,856.7% in the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock valued at $27,000 after buying an additional 1,114 shares during the last quarter. Quarry LP lifted its stake in Regions Financial by 157.2% in the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after acquiring an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Regions Financial by 530.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,256 shares during the last quarter. Truvestments Capital LLC bought a new position in shares of Regions Financial in the 3rd quarter valued at about $37,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Regions Financial in the 3rd quarter valued at about $37,000. 79.39% of the stock is owned by institutional investors and hedge funds.
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.
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