Regions Financial (NYSE:RF) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Regions Financial (NYSE:RF – Free Report) from a sell rating to a hold rating in a research note published on Saturday,Wall Street Zen reports.

RF has been the topic of several other reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $34.00 target price on shares of Regions Financial in a report on Monday, July 20th. Cantor Fitzgerald increased their price target on Regions Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Jefferies Financial Group restated a “hold” rating and set a $32.00 price objective on shares of Regions Financial in a research report on Friday, July 17th. UBS Group lifted their price objective on Regions Financial from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Finally, Truist Financial upped their target price on Regions Financial from $30.00 to $34.00 and gave the company a “hold” rating in a report on Tuesday, July 21st. Six research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $32.29.

Get Our Latest Report on Regions Financial

Regions Financial Trading Up 0.3%

RF opened at $28.59 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81. Regions Financial has a fifty-two week low of $22.70 and a fifty-two week high of $32.47. The company’s 50 day moving average price is $30.67 and its two-hundred day moving average price is $28.83. The firm has a market capitalization of $24.36 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.17 and a beta of 0.99.

Regions Financial (NYSE:RF – Get Free Report) last issued its quarterly earnings results on Friday, July 17th. The bank reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the business earned $0.60 earnings per share. Regions Financial’s revenue was up .1% compared to the same quarter last year. As a group, research analysts predict that Regions Financial will post 2.63 earnings per share for the current year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.2%. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial’s payout ratio is presently 48.98%.

Hedge Funds Weigh In On Regions Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its position in Regions Financial by 68.9% in the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock valued at $618,860,000 after buying an additional 9,312,449 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Regions Financial by 75.7% during the first quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock valued at $348,936,000 after acquiring an additional 5,754,487 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Regions Financial by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 9,827,358 shares of the bank’s stock valued at $256,633,000 after acquiring an additional 140,398 shares in the last quarter. Norges Bank acquired a new position in shares of Regions Financial during the fourth quarter worth approximately $254,564,000. Finally, LSV Asset Management raised its position in shares of Regions Financial by 4.0% during the fourth quarter. LSV Asset Management now owns 9,286,352 shares of the bank’s stock worth $251,660,000 after purchasing an additional 357,101 shares during the period. Institutional investors own 79.39% of the company’s stock.

About Regions Financial

(Get Free Report)

Regions Financial Corporation (NYSE: RF) is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumer, commercial and institutional customers.

Regions Bank offers checking and savings accounts, consumer loans, credit cards, mortgages, home equity products and other personal banking services. Its commercial and corporate offerings include business loans, treasury management, equipment financing, capital markets services and other solutions for companies, municipalities and institutions.

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