Regions Financial (NYSE:RF) Stock Bumped Up to “Buy” by Brean Capital

Brean Capital upgraded shares of Regions Financial (NYSE:RF) from a neutral rating to a buy rating in a research report report published on Monday, MarketBeat Ratings reports. They currently have $33.00 price target on the bank’s stock.

Several other equities research analysts also recently issued reports on RF. Wall Street Zen upgraded Regions Financial from a “sell” rating to a “hold” rating in a report on Saturday, September 19th. JPMorgan Chase & Co. lowered their price target on Regions Financial from $32.00 to $30.50 and set a “neutral” rating for the company in a research report on Friday, October 2nd. Morgan Stanley dropped their price objective on Regions Financial from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Monday, September 28th. TD Cowen initiated coverage on shares of Regions Financial in a report on Thursday, October 8th. They set a “hold” rating and a $30.00 price objective on the stock. Finally, Evercore reiterated an “underperform” rating and issued a $31.00 target price on shares of Regions Financial in a research note on Monday, July 6th. Seven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $31.38.

Regions Financial Price Performance

Shares of NYSE RF opened at $27.21 on Monday. Regions Financial has a fifty-two week low of $23.59 and a fifty-two week high of $32.47. The stock has a market cap of $23.18 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 1.13 and a beta of 1.05. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.81 and a current ratio of 0.82. The firm’s 50-day simple moving average is $29.04 and its 200 day simple moving average is $29.01.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, October 16th. The bank reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.06. Regions Financial had a return on equity of 13.43% and a net margin of 23.97%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the previous year, the business earned $0.63 EPS. The company’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, research analysts anticipate that Regions Financial will post 2.63 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, December 1st. Regions Financial’s dividend payout ratio is currently 47.06%.

Institutional Investors Weigh In On Regions Financial

A number of hedge funds have recently modified their holdings of the stock. Investment Research Partners LLC raised its position in shares of Regions Financial by 9.3% during the 3rd quarter. Investment Research Partners LLC now owns 40,158 shares of the bank’s stock valued at $1,079,000 after buying an additional 3,408 shares in the last quarter. First Bank & Trust lifted its holdings in shares of Regions Financial by 423.4% during the 3rd quarter. First Bank & Trust now owns 67,686 shares of the bank’s stock worth $1,819,000 after acquiring an additional 54,755 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of Regions Financial by 5.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 35,424 shares of the bank’s stock worth $952,000 after acquiring an additional 1,947 shares during the last quarter. Eastern Bank lifted its holdings in shares of Regions Financial by 30.7% during the 3rd quarter. Eastern Bank now owns 3,839 shares of the bank’s stock worth $103,000 after acquiring an additional 901 shares during the last quarter. Finally, Rockland Trust Co. grew its position in Regions Financial by 3.8% in the third quarter. Rockland Trust Co. now owns 50,142 shares of the bank’s stock worth $1,348,000 after acquiring an additional 1,829 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

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 consumers, businesses, institutions and governments.

Regions Bank offers checking and savings accounts, consumer and commercial loans, credit products, mortgages, treasury and cash-management services, investment and wealth-management solutions, and insurance-related services.