Truist Financial Cuts Regions Financial (NYSE:RF) Price Target to $28.00

Regions Financial (NYSE:RF) had its target price trimmed by Truist Financial from $29.00 to $28.00 in a research report released on Monday,Benzinga reports. The firm currently has a hold rating on the bank’s stock.

RF has been the subject of a number of other reports. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $31.00 target price on shares of Regions Financial in a research note on Tuesday, January 20th. Barclays raised their price target on shares of Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, January 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Regions Financial in a research report on Monday, December 29th. The Goldman Sachs Group reissued a “buy” rating and issued a $32.00 price objective on shares of Regions Financial in a report on Tuesday, January 6th. Finally, Wall Street Zen cut 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, nine have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $29.91.

Regions Financial Stock Performance

RF stock opened at $25.75 on Monday. Regions Financial has a 1 year low of $17.74 and a 1 year high of $31.53. The stock has a market capitalization of $22.24 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 0.91 and a beta of 1.02. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. The stock’s fifty day moving average is $28.08 and its two-hundred day moving average is $26.78.

Regions Financial (NYSE:RF) last released 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 return on equity of 12.55% and a net margin of 22.44%.The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the company posted $0.56 EPS. The firm’s revenue was up 5.8% on a year-over-year basis. On average, research analysts predict that Regions Financial will post 2.26 EPS for the current year.

Regions Financial declared that its board has approved a stock buyback plan on Wednesday, December 10th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 12.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.06 annualized dividend and a yield of 4.1%. Regions Financial’s dividend payout ratio (DPR) is presently 46.29%.

Insider Activity at Regions Financial

In other news, EVP William D. Ritter sold 36,000 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total value of $1,036,080.00. Following the completion of the sale, the executive vice president directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RF. Rockefeller Capital Management L.P. raised its holdings in Regions Financial by 5.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 70,801 shares of the bank’s stock worth $1,919,000 after purchasing an additional 3,893 shares in the last quarter. World Investment Advisors lifted its position in Regions Financial by 11.1% in the fourth quarter. World Investment Advisors now owns 17,855 shares of the bank’s stock worth $484,000 after purchasing an additional 1,790 shares during the period. Nalls Sherbakoff Group LLC bought a new position in Regions Financial during the 4th quarter valued at $1,443,000. Corient Private Wealth LLC increased its position in shares of Regions Financial by 34.8% during the 4th quarter. Corient Private Wealth LLC now owns 120,539 shares of the bank’s stock valued at $3,268,000 after purchasing an additional 31,148 shares during the period. Finally, Hsbc Holdings PLC increased its position in shares of Regions Financial by 1.1% during the 4th quarter. Hsbc Holdings PLC now owns 2,021,803 shares of the bank’s stock valued at $54,831,000 after purchasing an additional 22,033 shares during the period. Institutional investors and hedge funds 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.