JPMorgan Chase & Co. Cuts Regions Financial (NYSE:RF) Price Target to $30.50

Regions Financial (NYSE:RF) had its price target lowered by JPMorgan Chase & Co. from $32.00 to $30.50 in a report issued on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the bank’s stock.

Other analysts also recently issued research reports about the company. Wells Fargo & Company upped their price target on Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, July 6th. Wall Street Zen upgraded Regions Financial from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. Truist Financial dropped their target price on Regions Financial from $34.00 to $31.00 and set a “hold” rating on the stock in a report on Wednesday, September 23rd. UBS Group increased their target price on Regions Financial from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Finally, Morgan Stanley cut their target price 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. Six analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.97.

Regions Financial Trading Up 0.1%

NYSE:RF opened at $27.13 on Friday. Regions Financial has a one year low of $22.70 and a one year high of $32.47. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50-day simple moving average is $29.96 and its 200 day simple moving average is $28.88. The firm has a market capitalization of $23.11 billion, a P/E ratio of 11.07, a PEG ratio of 1.13 and a beta of 1.05.

Regions Financial (NYSE:RF) last announced 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. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the company earned $0.60 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. As a group, analysts forecast that Regions Financial will post 2.63 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st were paid a $0.30 dividend. This is a boost from Regions Financial’s previous quarterly dividend of $0.2650. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Tuesday, September 1st. Regions Financial’s dividend payout ratio (DPR) is presently 48.98%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RF. State Street Corp grew its position in Regions Financial by 6.2% in the 2nd quarter. State Street Corp now owns 50,667,092 shares of the bank’s stock worth $1,543,092,000 after purchasing an additional 2,953,594 shares during the period. Victory Capital Management Inc. raised its stake in Regions Financial by 68.9% during the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock valued at $618,860,000 after buying an additional 9,312,449 shares during the last quarter. First Trust Advisors LP raised its stake in Regions Financial by 75.7% during the 1st quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock valued at $348,936,000 after buying an additional 5,754,487 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Regions Financial by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,827,358 shares of the bank’s stock valued at $256,633,000 after buying an additional 140,398 shares during the period. Finally, Nykredit A S bought a new position in shares of Regions Financial during the 2nd quarter valued at $236,756,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

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, and institutions.

Regions offers a range of products and services, including checking and savings accounts, consumer and commercial loans, mortgages, credit cards, treasury and cash-management services, investment and wealth-management solutions, and capital-markets services.