Truist Financial upgraded shares of Regions Financial (NYSE:RF - Free Report) to a hold rating in a research report released on Monday morning,Zacks.com reports.
Other research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft raised Regions Financial from a "hold" rating to a "buy" rating and lifted their target price for the stock from $24.00 to $26.00 in a report on Thursday, October 24th. DA Davidson raised their target price on shares of Regions Financial from $27.00 to $29.00 and gave the stock a "buy" rating in a report on Monday, October 21st. Argus raised Regions Financial from a "hold" rating to a "buy" rating and set a $26.00 price target on the stock in a report on Thursday, October 24th. Barclays raised their price objective on Regions Financial from $25.00 to $26.00 and gave the stock an "underweight" rating in a research note on Monday. Finally, Keefe, Bruyette & Woods raised Regions Financial from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $27.00 to $28.00 in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $27.67.
Get Our Latest Stock Report on Regions Financial
Regions Financial Stock Performance
NYSE:RF traded down $0.04 during midday trading on Monday, reaching $23.81. 7,851,416 shares of the company traded hands, compared to its average volume of 8,526,323. The firm has a market capitalization of $21.64 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 2.61 and a beta of 1.19. The company has a fifty day moving average price of $25.19 and a 200 day moving average price of $23.16. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial has a twelve month low of $17.42 and a twelve month high of $27.96.
Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the company posted $0.49 EPS. Regions Financial's revenue for the quarter was down 3.7% on a year-over-year basis. On average, analysts expect that Regions Financial will post 2.12 EPS for the current fiscal year.
Regions Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.25 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 4.20%. Regions Financial's dividend payout ratio is presently 56.50%.
Institutional Investors Weigh In On Regions Financial
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Candriam S.C.A. raised its holdings in Regions Financial by 1.5% in the 2nd quarter. Candriam S.C.A. now owns 114,448 shares of the bank's stock valued at $2,293,000 after acquiring an additional 1,744 shares in the last quarter. Savant Capital LLC raised its stake in shares of Regions Financial by 152.6% in the second quarter. Savant Capital LLC now owns 64,510 shares of the bank's stock valued at $1,293,000 after purchasing an additional 38,969 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Regions Financial in the second quarter valued at $320,000. Caprock Group LLC lifted its position in Regions Financial by 37.9% in the second quarter. Caprock Group LLC now owns 18,266 shares of the bank's stock worth $371,000 after purchasing an additional 5,020 shares during the period. Finally, Ballentine Partners LLC boosted its stake in Regions Financial by 20.7% during the second quarter. Ballentine Partners LLC now owns 15,337 shares of the bank's stock worth $307,000 after buying an additional 2,631 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.
About Regions Financial
(
Get Free Report)
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.
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