Regions Financial (NYSE:RF) Now Covered by Analysts at 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 initiated coverage on shares of Regions Financial (NYSE:RF - Free Report) in a research note released on Wednesday morning, MarketBeat reports. The firm issued an overweight rating and a $30.00 price objective on the bank's stock.

Other research analysts have also recently issued reports about the company. Wall Street Zen raised Regions Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a report on Friday, May 23rd. Keefe, Bruyette & Woods increased their price objective on shares of Regions Financial from $29.00 to $30.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Jefferies Financial Group began coverage on shares of Regions Financial in a research note on Wednesday, May 21st. They set a "hold" rating and a $24.00 target price on the stock. Finally, DA Davidson upped their target price on shares of Regions Financial from $25.00 to $29.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Regions Financial currently has an average rating of "Moderate Buy" and an average target price of $27.47.

Regions Financial Stock Performance

Shares of RF stock traded down $0.23 during mid-day trading on Wednesday, reaching $26.94. 9,205,897 shares of the company's stock traded hands, compared to its average volume of 10,886,428. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $24.03 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.56 and a beta of 1.02. Regions Financial has a 12 month low of $17.74 and a 12 month high of $27.96. The firm has a 50 day moving average price of $25.91 and a two-hundred day moving average price of $22.99.

Regions Financial (NYSE:RF - Get Free Report) last announced its earnings results on Friday, July 18th. The bank reported $0.60 EPS for the quarter, topping 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 company had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same period last year, the firm earned $0.52 EPS. Regions Financial's revenue for the quarter was up 10.1% compared to the same quarter last year. On average, research analysts forecast that Regions Financial will post 2.26 EPS for the current year.

Regions Financial Increases Dividend

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

Insider Activity at Regions Financial

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

Institutional Trading of Regions Financial

A number of large investors have recently made changes to their positions in RF. Wellington Management Group LLP increased its stake in Regions Financial by 3.7% during the first quarter. Wellington Management Group LLP now owns 44,211,562 shares of the bank's stock worth $960,717,000 after acquiring an additional 1,562,512 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Regions Financial by 1.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 31,484,310 shares of the bank's stock valued at $740,511,000 after purchasing an additional 391,568 shares during the last quarter. Geode Capital Management LLC raised its holdings in Regions Financial by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 23,794,677 shares of the bank's stock valued at $557,370,000 after buying an additional 109,549 shares during the period. Invesco Ltd. raised its holdings in Regions Financial by 35.7% during the 1st quarter. Invesco Ltd. now owns 20,990,446 shares of the bank's stock valued at $456,122,000 after buying an additional 5,521,772 shares during the period. Finally, Norges Bank bought a new stake in Regions Financial in the second quarter worth $246,790,000. 79.39% of the stock is currently owned by institutional investors.

About Regions Financial

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.