Truist Financial Raises Regions Financial (NYSE:RF) Price Target to $25.00

Regions Financial (NYSE:RF) had its target price lifted by Truist Financial from $23.00 to $25.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has a hold rating on the bank’s stock.

RF has been the subject of a number of other reports. Evercore ISI cut their price objective on Regions Financial from $22.00 to $21.00 and set an in-line rating for the company in a research report on Tuesday, June 25th. StockNews.com raised Regions Financial from a sell rating to a hold rating in a report on Thursday, September 12th. Morgan Stanley lifted their price target on Regions Financial from $25.00 to $28.00 and gave the stock an overweight rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods dropped their price target on Regions Financial from $22.00 to $21.00 and set a market perform rating for the company in a report on Tuesday, July 9th. Finally, Bank of America raised 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. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $21.69.

Regions Financial Stock Performance

Shares of NYSE RF opened at $22.91 on Friday. The stock has a 50 day moving average price of $22.12 and a 200 day moving average price of $20.45. Regions Financial has a 52 week low of $13.72 and a 52 week high of $23.47. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $20.98 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 2.82 and a beta of 1.17.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) 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 company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the firm posted $0.59 earnings per share. The business’s revenue was down 11.5% on a year-over-year basis. Analysts predict that Regions Financial will post 2 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 4.36%. Regions Financial’s payout ratio is presently 54.35%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cincinnati Insurance Co. acquired a new position in shares of Regions Financial in the 1st quarter valued at about $74,606,000. Vanguard Group Inc. increased its holdings in Regions Financial by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after purchasing an additional 3,119,237 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Regions Financial by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock valued at $1,080,928,000 after acquiring an additional 1,951,026 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in shares of Regions Financial in the first quarter valued at approximately $33,829,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Regions Financial by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after acquiring an additional 979,597 shares in the last quarter. 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.