Regions Financial Co. (NYSE:RF - Get Free Report) hit a new 52-week high during mid-day trading on Thursday after Evercore ISI raised their price target on the stock from $20.00 to $22.00. Evercore ISI currently has an in-line rating on the stock. Regions Financial traded as high as $21.08 and last traded at $21.04, with a volume of 8103524 shares changing hands. The stock had previously closed at $20.68.
A number of other analysts also recently weighed in on RF. Citigroup upgraded Regions Financial from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $20.00 to $23.00 in a research report on Monday, March 18th. Truist Financial lifted their price objective on Regions Financial from $15.00 to $21.00 and gave the company a "hold" rating in a research report on Friday, December 15th. Royal Bank of Canada lifted their price objective on Regions Financial from $19.00 to $21.00 and gave the stock an "outperform" rating in a research note on Monday, January 22nd. Piper Sandler boosted their price objective on Regions Financial from $15.00 to $18.00 and gave the company a "neutral" rating in a report on Friday, December 8th. Finally, Jefferies Financial Group upgraded Regions Financial from a "hold" rating to a "buy" rating and upped their price objective for the stock from $15.00 to $22.00 in a research note on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $20.28.
Get Our Latest Stock Analysis on RF
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Advisor Resource Council purchased a new position in shares of Regions Financial during the 4th quarter valued at $1,944,000. Vestmark Advisory Solutions Inc. lifted its position in Regions Financial by 126.3% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 26,436 shares of the bank's stock worth $455,000 after acquiring an additional 14,756 shares during the last quarter. LPL Financial LLC lifted its position in Regions Financial by 19.6% during the 3rd quarter. LPL Financial LLC now owns 582,491 shares of the bank's stock worth $10,019,000 after acquiring an additional 95,271 shares during the last quarter. Toroso Investments LLC raised its position in shares of Regions Financial by 236.9% during the third quarter. Toroso Investments LLC now owns 80,152 shares of the bank's stock valued at $1,379,000 after buying an additional 56,364 shares during the last quarter. Finally, Vest Financial LLC raised its position in shares of Regions Financial by 27.5% during the fourth quarter. Vest Financial LLC now owns 653,048 shares of the bank's stock valued at $12,656,000 after buying an additional 141,008 shares during the last quarter. Institutional investors own 79.39% of the company's stock.
Regions Financial Price Performance
The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.15. The company's 50-day moving average is $18.94 and its 200-day moving average is $17.73. The stock has a market cap of $19.33 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 1.44 and a beta of 1.19.
Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Friday, January 19th. The bank reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.09). The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a net margin of 22.66% and a return on equity of 14.50%. The firm's revenue was down 9.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.67 earnings per share. Equities research analysts expect that Regions Financial Co. will post 1.98 earnings per share for the current fiscal year.
Regions Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be paid a $0.24 dividend. The ex-dividend date is Thursday, February 29th. This represents a $0.96 annualized dividend and a yield of 4.56%. Regions Financial's dividend payout ratio is 45.93%.
About Regions Financial
(
Get Free Report)
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.
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