Regions Financial (NYSE:RF) Sets New 1-Year High - Here's What Happened

Regions Financial Co. (NYSE:RF - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $26.54 and last traded at $26.53, with a volume of 307050 shares traded. The stock had previously closed at $26.18.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Bank of America boosted their target price on Regions Financial from $22.00 to $25.00 and gave the company a "neutral" rating in a research note on Monday, July 22nd. Wells Fargo & Company raised their price objective on shares of Regions Financial from $22.00 to $24.00 and gave the company an "equal weight" rating in a research report on Monday, October 21st. StockNews.com upgraded shares of Regions Financial from a "sell" rating to a "hold" rating in a research report on Friday, October 25th. Argus upgraded shares of Regions Financial from a "hold" rating to a "buy" rating and set a $26.00 target price on the stock in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group raised their price target on shares of Regions Financial from $25.00 to $28.00 and gave the stock a "buy" rating in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $25.45.

Regions Financial Stock Performance

The stock has a market capitalization of $23.71 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 2.74 and a beta of 1.16. The firm's fifty day moving average is $23.39 and its 200-day moving average is $21.47. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The business had revenue of $1.79 billion for the quarter, compared to analysts' expectations of $1.80 billion. During the same quarter last year, the company earned $0.49 earnings per share. The firm's revenue for the quarter was down 3.7% on a year-over-year basis. As a group, research analysts anticipate that Regions Financial Co. will post 2.1 earnings per share for the current year.

Regions Financial Announces Dividend

The company also recently disclosed 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 3.83%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial's payout ratio is currently 56.50%.

Institutional Investors Weigh In On Regions Financial

Large investors have recently modified their holdings of the stock. American National Bank & Trust lifted its stake in shares of Regions Financial by 1,856.7% in the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank's stock valued at $27,000 after purchasing an additional 1,114 shares in the last quarter. EntryPoint Capital LLC bought a new position in Regions Financial during the 1st quarter worth $26,000. Quarry LP grew its stake in Regions Financial by 157.2% during the 2nd quarter. Quarry LP now owns 1,335 shares of the bank's stock worth $27,000 after buying an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Regions Financial by 530.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank's stock worth $30,000 after buying an additional 1,256 shares during the last quarter. Finally, Truvestments Capital LLC bought a new position in Regions Financial during the 3rd quarter worth $37,000. Hedge funds and other institutional investors own 79.39% of the company's stock.

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.