Regions Financial Corporation (NYSE:RF) Stock Has Average Target Price of $32.29

Regions Financial Corporation (NYSE:RF) has received an average recommendation of “Hold” from the twenty analysts that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $32.12.

A number of research analysts recently commented on RF shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 target price on shares of Regions Financial in a research report on Friday, July 17th. Robert W. Baird raised Regions Financial from an “underperform” rating to a “neutral” rating and set a $28.00 price objective on the stock in a report on Friday, September 18th. Morgan Stanley lifted their target price on Regions Financial from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 8th. DA Davidson boosted their target price on Regions Financial from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Finally, Evercore reissued an “underperform” rating and issued a $31.00 target price on shares of Regions Financial in a research report on Monday, July 6th.

Regions Financial Price Performance

RF stock opened at $27.25 on Friday. The business has a 50 day moving average price of $30.43 and a 200 day moving average price of $28.83. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26. The stock has a market cap of $23.21 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 1.14 and a beta of 0.99. Regions Financial has a fifty-two week low of $22.70 and a fifty-two week high of $32.47.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the company earned $0.60 earnings per share. Equities research analysts anticipate that Regions Financial will post 2.63 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from Regions Financial’s previous quarterly dividend of $0.2650. This represents a $1.20 annualized dividend and a dividend yield of 4.4%. Regions Financial’s dividend payout ratio is currently 48.98%.

Hedge Funds Weigh In On Regions Financial

A number of institutional investors have recently modified their holdings of the business. Root Financial Partners LLC raised its holdings in Regions Financial by 3.9% in the fourth quarter. Root Financial Partners LLC now owns 9,148 shares of the bank’s stock valued at $248,000 after buying an additional 346 shares during the period. WPG Advisers LLC grew its stake in Regions Financial by 83.5% during the second quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock worth $25,000 after buying an additional 370 shares during the period. Master S Wealth Management Inc. increased its position in shares of Regions Financial by 1.0% in the first quarter. Master S Wealth Management Inc. now owns 38,631 shares of the bank’s stock worth $1,009,000 after acquiring an additional 372 shares in the last quarter. Legacy Wealth Managment LLC ID increased its position in shares of Regions Financial by 17.3% in the first quarter. Legacy Wealth Managment LLC ID now owns 2,589 shares of the bank’s stock worth $68,000 after acquiring an additional 381 shares in the last quarter. Finally, Lcnb Corp raised its stake in shares of Regions Financial by 3.8% in the 4th quarter. Lcnb Corp now owns 10,725 shares of the bank’s stock valued at $291,000 after acquiring an additional 390 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumer, commercial and institutional customers.

Regions Bank offers checking and savings accounts, consumer loans, credit cards, mortgages, home equity products and other personal banking services. Its commercial and corporate offerings include business loans, treasury management, equipment financing, capital markets services and other solutions for companies, municipalities and institutions.