Regions Financial (NYSE:RF) Sets New 12-Month High on Analyst Upgrade

Regions Financial Co. (NYSE:RF) shares hit a new 52-week high during trading on Thursday after Citigroup raised their price target on the stock from $26.00 to $30.00. Citigroup currently has a buy rating on the stock. Regions Financial traded as high as $26.82 and last traded at $26.81, with a volume of 1906426 shares changing hands. The stock had previously closed at $26.26.

Several other equities analysts have also weighed in on RF. Keefe, Bruyette & Woods upgraded shares of Regions Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $27.00 to $28.00 in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft upgraded Regions Financial from a “hold” rating to a “buy” rating and increased their price target for the stock from $24.00 to $26.00 in a report on Thursday, October 24th. Morgan Stanley boosted their price objective on Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. DA Davidson upped their target price on Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Evercore ISI lifted their price target on shares of Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.41.

Institutional Investors Weigh In On Regions Financial

Institutional investors have recently added to or reduced their stakes in the business. American National Bank & Trust boosted its holdings in shares of Regions Financial by 1,856.7% in the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after acquiring an additional 1,114 shares during the period. EntryPoint Capital LLC bought a new position in Regions Financial in the 1st quarter worth about $26,000. Quarry LP grew its holdings in Regions Financial by 157.2% during the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after buying an additional 816 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Regions Financial by 530.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after buying an additional 1,256 shares during the period. Finally, Truvestments Capital LLC purchased a new stake in shares of Regions Financial in the third quarter worth about $37,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Price Performance

The business’s 50-day moving average price is $23.85 and its 200 day moving average price is $21.74. The company has a market capitalization of $24.30 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 2.72 and a beta of 1.16. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the business earned $0.49 earnings per share. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. Analysts anticipate that Regions Financial Co. will post 2.12 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.74%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio is 56.50%.

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.