Regions Financial (NYSE:RF) Price Target Raised to $31.50

Regions Financial (NYSE:RF) had its price objective increased by JPMorgan Chase & Co. from $29.00 to $31.50 in a report issued on Monday morning,Benzinga reports. They currently have a neutral rating on the bank’s stock.

RF has been the topic of several other reports. Piper Sandler boosted their target price on shares of Regions Financial from $29.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 20th. Evercore cut shares of Regions Financial from an “in-line” rating to an “underperform” rating and raised their price objective for the company from $27.00 to $29.00 in a research note on Tuesday, January 6th. Truist Financial boosted their price objective on shares of Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a report on Monday, December 22nd. UBS Group restated a “neutral” rating and set a $30.00 target price on shares of Regions Financial in a research report on Wednesday, February 4th. Finally, Wall Street Zen downgraded shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $29.84.

Regions Financial Price Performance

Shares of RF opened at $30.96 on Monday. Regions Financial has a twelve month low of $17.74 and a twelve month high of $31.32. The stock’s 50 day moving average is $28.16 and its two-hundred day moving average is $26.48. The firm has a market capitalization of $27.15 billion, a PE ratio of 13.52, a P/E/G ratio of 1.09 and a beta of 1.04. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.04). Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the business earned $0.56 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. Research analysts anticipate that Regions Financial will post 2.26 earnings per share for the current year.

Regions Financial declared that its Board of Directors has authorized a share buyback program on Wednesday, December 10th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the bank to purchase up to 12.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be given a $0.265 dividend. The ex-dividend date is Monday, March 2nd. This represents a $1.06 annualized dividend and a dividend yield of 3.4%. Regions Financial’s dividend payout ratio is currently 46.29%.

Insider Activity

In related news, EVP William D. Ritter sold 36,000 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total value of $1,036,080.00. Following the sale, the executive vice president owned 17,569 shares of the company’s stock, valued at approximately $505,635.82. This represents a 67.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Regions Financial

Hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC boosted its stake in shares of Regions Financial by 7.2% during the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after acquiring an additional 1,278 shares during the last quarter. Woodline Partners LP lifted its holdings in Regions Financial by 40.7% in the 1st quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock valued at $1,669,000 after purchasing an additional 22,216 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Regions Financial during the 2nd quarter worth about $44,000. DAVENPORT & Co LLC purchased a new stake in shares of Regions Financial during the second quarter worth about $202,000. Finally, Vontobel Holding Ltd. grew its holdings in shares of Regions Financial by 37.7% during the second quarter. Vontobel Holding Ltd. now owns 19,080 shares of the bank’s stock worth $449,000 after buying an additional 5,225 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.