Regions Financial (NYSE:RF) Given New $30.00 Price Target at Keefe, Bruyette & Woods

Regions Financial (NYSE:RF - Free Report) had its target price boosted by Keefe, Bruyette & Woods from $29.00 to $30.00 in a research note published on Monday morning, Marketbeat.com reports. They currently have an outperform rating on the bank's stock.

Other research analysts have also recently issued reports about the company. Truist Financial reaffirmed a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. Wells Fargo & Company lowered their price target on Regions Financial from $28.00 to $26.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. Morgan Stanley boosted their price target on Regions Financial from $22.00 to $27.00 and gave the stock an "equal weight" rating in a report on Thursday, July 3rd. Jefferies Financial Group began coverage on Regions Financial in a report on Wednesday, May 21st. They issued a "hold" rating and a $24.00 price target on the stock. Finally, Barclays boosted their price target on Regions Financial from $24.00 to $27.00 and gave the stock an "underweight" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.33.

Regions Financial Stock Performance

Shares of RF stock traded up $0.22 during trading hours on Monday, reaching $26.59. 15,461,997 shares of the company traded hands, compared to its average volume of 9,333,104. Regions Financial has a 12-month low of $17.74 and a 12-month high of $27.96. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $23.90 billion, a P/E ratio of 12.36, a P/E/G ratio of 1.51 and a beta of 0.98. The firm has a 50-day moving average price of $23.01 and a 200 day moving average price of $22.48.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $1.86 billion. During the same period in the previous year, the firm earned $0.52 EPS. The business's quarterly revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts predict that Regions Financial will post 2.26 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.99%. This is an increase from Regions Financial's previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, September 2nd. Regions Financial's dividend payout ratio is 46.51%.

Hedge Funds Weigh In On Regions Financial

A number of large investors have recently modified their holdings of the business. Wellington Management Group LLP increased its position 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 buying an additional 1,562,512 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Regions Financial by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 31,092,742 shares of the bank's stock valued at $675,645,000 after purchasing an additional 1,909,162 shares during the period. Geode Capital Management LLC grew its position in shares of Regions Financial by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank's stock valued at $540,284,000 after purchasing an additional 403,283 shares during the period. Invesco Ltd. grew its position in shares of Regions Financial by 35.7% in the first quarter. Invesco Ltd. now owns 20,990,446 shares of the bank's stock valued at $456,122,000 after purchasing an additional 5,521,772 shares during the period. Finally, First Trust Advisors LP grew its position in shares of Regions Financial by 7.7% in the fourth quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank's stock valued at $401,097,000 after purchasing an additional 1,224,645 shares during the period. 79.39% of the stock is 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.