Regions Financial (NYSE:RF) Price Target Lowered to $21.00 at Truist Financial

Regions Financial (NYSE:RF - Free Report) had its price objective cut by Truist Financial from $24.00 to $21.00 in a report issued on Tuesday,Benzinga reports. They currently have a hold rating on the bank's stock.

RF has been the topic of a number of other research reports. Citigroup cut their price target on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Wells Fargo & Company decreased their price target on Regions Financial from $28.00 to $26.00 and set an "equal weight" rating for the company in a research note on Friday, March 28th. Morgan Stanley cut their price objective on Regions Financial from $29.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Monday, April 7th. Barclays decreased their target price on Regions Financial from $26.00 to $24.00 and set an "underweight" rating for the company in a research report on Monday, April 21st. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Regions Financial from $28.00 to $26.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $25.53.

Regions Financial Stock Down 1.3 %

NYSE RF traded down $0.26 on Tuesday, reaching $20.28. The stock had a trading volume of 6,572,572 shares, compared to its average volume of 8,107,545. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. Regions Financial has a 1 year low of $17.72 and a 1 year high of $27.96. The business has a 50 day moving average price of $21.16 and a 200 day moving average price of $23.46. The company has a market capitalization of $18.36 billion, a price-to-earnings ratio of 10.45, a P/E/G ratio of 1.93 and a beta of 1.01.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. The business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.84 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. During the same quarter in the previous year, the business posted $0.37 EPS. On average, analysts forecast that Regions Financial will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date is Monday, June 2nd. Regions Financial's payout ratio is 48.08%.

Insider Transactions at Regions Financial

In other news, Director Joia M. Johnson purchased 2,300 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $21.18 per share, with a total value of $48,714.00. Following the acquisition, the director now directly owns 17,486 shares of the company's stock, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.29% of the stock is currently owned by insiders.

Institutional Trading of Regions Financial

Several hedge funds have recently modified their holdings of the company. Y.D. More Investments Ltd boosted its holdings in shares of Regions Financial by 122.9% in the 4th quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank's stock worth $27,000 after acquiring an additional 634 shares in the last quarter. Sierra Ocean LLC acquired a new position in Regions Financial in the fourth quarter worth $28,000. Picton Mahoney Asset Management grew its holdings in shares of Regions Financial by 2,354.9% during the fourth quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank's stock worth $29,000 after purchasing an additional 1,201 shares during the last quarter. Millstone Evans Group LLC bought a new stake in shares of Regions Financial during the fourth quarter worth $32,000. Finally, Grove Bank & Trust increased its stake in shares of Regions Financial by 76.6% in the first quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock valued at $41,000 after buying an additional 814 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

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.