Stephens Reaffirms Overweight Rating for Regions Financial (NYSE:RF)

Stephens reaffirmed their overweight rating on shares of Regions Financial (NYSE:RF - Free Report) in a research report released on Tuesday morning,Benzinga reports. The firm currently has a $24.00 price objective on the bank's stock.

Several other research firms also recently weighed in on RF. Citigroup reduced their price target on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Truist Financial restated a "hold" rating on shares of Regions Financial in a research report on Friday, May 23rd. JPMorgan Chase & Co. reduced their price target on shares of Regions Financial from $26.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Barclays reduced their price target on shares of 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, TD Cowen assumed coverage on shares of Regions Financial in a research report on Thursday, May 15th. They set a "buy" rating and a $31.00 price target for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $25.80.

Regions Financial Price Performance

Shares of Regions Financial stock traded up $0.76 during trading hours on Tuesday, reaching $22.08. The stock had a trading volume of 11,085,184 shares, compared to its average volume of 8,157,295. The stock's 50 day moving average is $20.66 and its 200 day moving average is $22.83. The firm has a market capitalization of $19.85 billion, a PE ratio of 11.38, a PEG ratio of 1.93 and a beta of 0.96. Regions Financial has a twelve month low of $17.72 and a twelve month high of $27.96. 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 (NYSE:RF - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the firm earned $0.37 EPS. Equities analysts expect that Regions Financial will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.00 annualized dividend and a dividend yield of 4.53%. Regions Financial's dividend payout ratio (DPR) is 48.08%.

Insider Activity

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

Hedge Funds Weigh In On Regions Financial

A number of hedge funds have recently made changes to their positions in RF. Y.D. More Investments Ltd boosted its position in shares of Regions Financial by 122.9% during the 4th quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank's stock worth $27,000 after purchasing an additional 634 shares during the period. Bayforest Capital Ltd boosted its position in shares of Regions Financial by 637.3% during the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock worth $27,000 after purchasing an additional 1,058 shares during the period. Sierra Ocean LLC purchased a new position in shares of Regions Financial during the 4th quarter worth approximately $28,000. Picton Mahoney Asset Management boosted its position in shares of Regions Financial by 2,354.9% during the 4th 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 period. Finally, Millstone Evans Group LLC purchased a new position in shares of Regions Financial during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors 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.