#2 - Regions Financial Corp (NYSE:RF)
Regions Financial Corp. (NYSE: RF) is another regional bank with a diversified menu of services and a wide footprint. In the case of Regions that footprint covers the Midwest, South and Texas. That gives the bank exposure in Florida, Tennessee, and Texas which are three states that benefited the most from population migration during the Covid-19 pandemic.
For the full year 2022, the bank delivered net income of $2.1 billion. This was a 12% increase from 2021 on both a reported and adjusted basis. At that time, the bank had a Common Equity Tier 1 ratio of 9.6% with $9.2 billion of the bank’s cash being held at the Federal Reserve. On the lending side, the bank’s allowance for credit loss ratio was 1.63% of total loans, which is considered to be a strong metric.
As of April 2023, the bank had a dividend yield of 4.22% and had increased its dividend in each of the last two years. It’s market cap is $17.7 billion.
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.
Read More - Current Price
- $23.77
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 11 Buy Ratings, 6 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $27.61 (16.2% Upside)
