Truist Financial Raises Regions Financial (NYSE:RF) Price Target to $25.00

Regions Financial (NYSE:RF) had its price objective upped by Truist Financial from $23.00 to $25.00 in a report released on Friday, Benzinga reports. The firm currently has a hold rating on the bank’s stock.

Several other research analysts have also recently weighed in on RF. Citigroup upped their price target on shares of Regions Financial from $25.00 to $26.00 and gave the stock a buy rating in a report on Thursday, September 19th. StockNews.com raised shares of Regions Financial from a sell rating to a hold rating in a report on Thursday, September 12th. Royal Bank of Canada increased their target price on Regions Financial from $21.00 to $23.00 and gave the company an outperform rating in a research note on Monday, July 22nd. Morgan Stanley increased their target price on shares of Regions Financial from $25.00 to $28.00 and gave the stock an overweight rating in a report on Tuesday, July 30th. Finally, Jefferies Financial Group lifted their price objective on Regions Financial from $22.00 to $24.00 and gave the company a buy rating in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Regions Financial presently has a consensus rating of Hold and an average target price of $21.69.

Regions Financial Trading Down 0.9 %

NYSE:RF opened at $22.91 on Friday. The company has a market cap of $20.98 billion, a P/E ratio of 12.45, a P/E/G ratio of 2.82 and a beta of 1.17. The stock’s fifty day moving average price is $22.12 and its two-hundred day moving average price is $20.45. Regions Financial has a 1 year low of $13.72 and a 1 year high of $23.47. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The business’s quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.59 earnings per share. As a group, analysts expect that Regions Financial will post 2 EPS for the current year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a $0.25 dividend. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend is Tuesday, September 3rd. Regions Financial’s payout ratio is currently 54.35%.

Hedge Funds Weigh In On Regions Financial

Hedge funds have recently added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new position in Regions Financial in the 1st quarter worth approximately $26,000. Quarry LP raised its holdings in Regions Financial by 157.2% in the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after acquiring an additional 816 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in Regions Financial in the 4th quarter worth approximately $28,000. MV Capital Management Inc. raised its holdings in Regions Financial by 75.6% in the 1st quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after acquiring an additional 618 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in Regions Financial by 530.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after acquiring an additional 1,256 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Company Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.