Regions Financial (NYSE:RF) Now Covered by Cantor Fitzgerald

Key Points

• Analysts at Cantor Fitzgerald initiated coverage on Regions Financial (NYSE: RF) with an "overweight" rating and a price target of $30.00, suggesting a potential upside of 10.85% from the current price.
• Twelve analysts have rated Regions Financial, with a consensus of "Moderate Buy" and an average target price of $27.47, indicating strong market confidence.
• The bank reported a quarterly EPS of $0.60, exceeding expectations, with a revenue increase of 10.1% year-over-year.

Cantor Fitzgerald began coverage on shares of Regions Financial (NYSE:RF - Free Report) in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm issued an overweight rating and a $30.00 price objective on the bank's stock.

Other equities research analysts have also recently issued reports about the company. Truist Financial reissued a "hold" rating on shares of Regions Financial in a research note on Friday, May 23rd. Jefferies Financial Group began coverage on Regions Financial in a research note on Wednesday, May 21st. They set a "hold" rating and a $24.00 price objective for the company. Morgan Stanley lifted their price objective on Regions Financial from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Stephens lifted their price objective on Regions Financial from $24.00 to $29.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Finally, Citigroup lifted their price objective on Regions Financial from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Regions Financial has a consensus rating of "Moderate Buy" and an average price target of $27.47.

Regions Financial Price Performance

RF stock traded up $0.15 during midday trading on Wednesday, reaching $27.19. 17,753,369 shares of the company's stock traded hands, compared to its average volume of 16,845,808. The company has a 50-day simple moving average of $25.91 and a two-hundred day simple moving average of $23.00. Regions Financial has a 1-year low of $17.74 and a 1-year high of $27.96. The company has a market cap of $24.26 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 1.55 and a beta of 1.02. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.30.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.04. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The firm had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.86 billion. During the same period last year, the firm posted $0.52 EPS. The business's revenue was up 10.1% on a year-over-year basis. On average, analysts anticipate that Regions Financial will post 2.26 earnings per share for the current year.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a $0.265 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from Regions Financial's previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a dividend yield of 3.9%. Regions Financial's dividend payout ratio (DPR) is currently 49.30%.

Insider Activity at Regions Financial

In related news, EVP David R. Keenan sold 30,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total value of $750,300.00. Following the completion of the sale, the executive vice president directly owned 90,915 shares in the company, valued at approximately $2,273,784.15. The trade was a 24.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Roger W. Jenkins purchased 4,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was bought at an average price of $25.48 per share, with a total value of $101,920.00. Following the completion of the purchase, the director owned 6,383 shares of the company's stock, valued at $162,638.84. This trade represents a 167.86% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Focus Partners Wealth increased its stake in shares of Regions Financial by 20.0% in the fourth quarter. Focus Partners Wealth now owns 30,474 shares of the bank's stock valued at $717,000 after buying an additional 5,074 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Regions Financial by 105.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 330,383 shares of the bank's stock valued at $7,771,000 after purchasing an additional 169,593 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new stake in Regions Financial in the 4th quarter valued at $277,000. Nomura Holdings Inc. purchased a new position in shares of Regions Financial in the 4th quarter worth approximately $704,000. Finally, Nissay Asset Management Corp Japan ADV raised its holdings in shares of Regions Financial by 1.1% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 111,725 shares of the bank's stock worth $2,652,000 after purchasing an additional 1,253 shares during the period. 79.39% of the stock is owned by 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.