Regions Financial (NYSE:RF) Reaches New 52-Week High at $23.25

Regions Financial Co. (NYSE:RF - Get Free Report)'s share price reached a new 52-week high on Thursday . The company traded as high as $23.25 and last traded at $23.09, with a volume of 1269560 shares traded. The stock had previously closed at $22.98.

Wall Street Analysts Forecast Growth

RF has been the topic of a number of recent analyst reports. Bank of America increased their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the stock a "neutral" rating in a research report on Monday, July 22nd. Jefferies Financial Group raised their target price on shares of Regions Financial from $22.00 to $24.00 and gave the stock a "buy" rating in a research report on Wednesday, July 3rd. Truist Financial raised their target price on shares of Regions Financial from $21.00 to $23.00 and gave the stock a "hold" rating in a research report on Monday, July 22nd. Evercore ISI reduced their target price on shares of Regions Financial from $22.00 to $21.00 and set an "in-line" rating on the stock in a research report on Tuesday, June 25th. Finally, Citigroup raised their target price on shares of Regions Financial from $23.00 to $25.00 and gave the stock a "buy" rating in a research report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Regions Financial presently has a consensus rating of "Hold" and an average target price of $21.51.

Regions Financial Trading Up 1.0 %

The company has a market capitalization of $21.26 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 2.77 and a beta of 1.18. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. The company's 50 day simple moving average is $21.15 and its two-hundred day simple moving average is $19.95.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Friday, July 19th. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.49 by $0.03. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the firm posted $0.59 earnings per share. The business's revenue for the quarter was down 11.5% compared to the same quarter last year. As a group, research analysts anticipate that Regions Financial Co. will post 2 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.25 per share. This is an increase from Regions Financial's previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 4.31%. The ex-dividend date is Tuesday, September 3rd. Regions Financial's payout ratio is presently 54.35%.

Institutional Investors Weigh In On Regions Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. IFG Advisory LLC raised its holdings in shares of Regions Financial by 1.8% during the second quarter. IFG Advisory LLC now owns 30,928 shares of the bank's stock worth $620,000 after purchasing an additional 546 shares during the last quarter. HB Wealth Management LLC raised its holdings in shares of Regions Financial by 0.6% during the first quarter. HB Wealth Management LLC now owns 96,720 shares of the bank's stock worth $2,035,000 after purchasing an additional 551 shares during the last quarter. CWM LLC raised its holdings in shares of Regions Financial by 1.4% during the first quarter. CWM LLC now owns 41,137 shares of the bank's stock worth $866,000 after purchasing an additional 556 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in shares of Regions Financial by 2.8% during the first quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank's stock worth $433,000 after purchasing an additional 565 shares during the last quarter. Finally, Signet Financial Management LLC raised its holdings in shares of Regions Financial by 4.9% during the first quarter. Signet Financial Management LLC now owns 12,438 shares of the bank's stock worth $262,000 after purchasing an additional 584 shares during the last quarter. 79.39% of the stock is currently 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.