Regions Financial (NYSE:RF) Sets New 12-Month High at $22.99

Regions Financial Co. (NYSE:RF - Get Free Report)'s share price reached a new 52-week high during trading on Friday . The company traded as high as $22.99 and last traded at $22.74, with a volume of 4920538 shares traded. The stock had previously closed at $22.16.

Wall Street Analyst Weigh In

A number of analysts recently commented on RF shares. Piper Sandler lifted their price objective on Regions Financial from $20.00 to $21.00 and gave the stock a "neutral" rating in a research report on Friday, April 26th. StockNews.com upgraded Regions Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 13th. Keefe, Bruyette & Woods lowered 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. Jefferies Financial Group lifted their price target on Regions Financial from $22.00 to $24.00 and gave the company a "buy" rating in a report on Wednesday, July 3rd. Finally, Citigroup lifted their price target on Regions Financial from $23.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $21.51.

Regions Financial Stock Up 2.9 %

The firm has a 50-day moving average of $20.83 and a 200 day moving average of $19.81. The stock has a market capitalization of $20.89 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 2.77 and a beta of 1.18. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the business earned $0.59 EPS. Regions Financial's revenue for the quarter was down 11.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Regions Financial Co. will post 2 earnings per share for the current year.

Regions Financial Increases Dividend

The firm also recently disclosed 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 4.38%. Regions Financial's payout ratio is currently 54.35%.

Institutional Investors Weigh In On Regions Financial

Several hedge funds and other institutional investors have recently bought and sold shares of RF. Vanguard Group Inc. increased its holdings in shares of Regions Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank's stock valued at $2,281,118,000 after acquiring an additional 3,119,237 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Regions Financial by 3.6% in the 4th 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 during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Regions Financial by 7.4% in the 2nd 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 during the last quarter. Norges Bank bought a new stake in shares of Regions Financial in the 4th quarter valued at approximately $210,379,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Regions Financial by 1.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank's stock valued at $162,163,000 after acquiring an additional 103,529 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

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.