Regions Financial (NYSE:RF) Price Target Increased to $21.00 by Analysts at Piper Sandler

Regions Financial (NYSE:RF) had its price target raised by Piper Sandler from $20.00 to $21.00 in a report issued on Friday, Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

Several other research firms have also recently issued reports on RF. Argus cut Regions Financial from a buy rating to a hold rating in a research report on Tuesday, January 23rd. StockNews.com cut Regions Financial from a hold rating to a sell rating in a research report on Tuesday, February 6th. Keefe, Bruyette & Woods upped their price objective on Regions Financial from $21.00 to $22.00 and gave the stock a market perform rating in a research report on Friday, April 5th. Evercore ISI upped their price objective on Regions Financial from $20.00 to $22.00 and gave the stock an in-line rating in a research report on Thursday, March 28th. Finally, Royal Bank of Canada upped their price objective on Regions Financial from $19.00 to $21.00 and gave the stock an outperform rating in a research report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $20.34.

Regions Financial Price Performance

Shares of NYSE RF opened at $19.62 on Friday. The stock’s 50-day moving average is $19.43 and its two-hundred day moving average is $18.09. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82. Regions Financial has a 1-year low of $13.72 and a 1-year high of $21.08. The company has a market cap of $18.03 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 1.43 and a beta of 1.21.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08). The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. Regions Financial’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 EPS. Analysts forecast that Regions Financial will post 1.95 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.24 per share. The ex-dividend date is Friday, May 31st. This represents a $0.96 dividend on an annualized basis and a yield of 4.89%. Regions Financial’s payout ratio is 52.17%.

Insiders Place Their Bets

In related news, Director William C. Rhodes III acquired 50,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was bought at an average cost of $19.37 per share, with a total value of $968,500.00. Following the transaction, the director now owns 50,000 shares of the company’s stock, valued at $968,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Regions Financial

Large investors have recently modified their holdings of the business. Moisand Fitzgerald Tamayo LLC purchased a new position in shares of Regions Financial during the 3rd quarter worth approximately $26,000. Laurel Wealth Advisors LLC increased its stake in Regions Financial by 86.5% in the 4th quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock valued at $27,000 after purchasing an additional 649 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in Regions Financial in the 4th quarter valued at approximately $28,000. Sound Income Strategies LLC increased its stake in Regions Financial by 103.2% in the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock valued at $29,000 after purchasing an additional 750 shares in the last quarter. Finally, Glassman Wealth Services increased its stake in Regions Financial by 163.3% in the 4th quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock valued at $30,000 after purchasing an additional 967 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, 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.