Regions Financial (NYSE:RF) Downgraded to “Sell” at StockNews.com

StockNews.com downgraded shares of Regions Financial (NYSE:RF) from a hold rating to a sell rating in a research note published on Tuesday morning.

A number of other brokerages have also weighed in on RF. The Goldman Sachs Group raised their price objective on Regions Financial from $20.00 to $22.50 and gave the company a buy rating in a report on Tuesday, July 25th. Royal Bank of Canada reiterated an outperform rating and set a $23.00 price target on shares of Regions Financial in a report on Monday, July 24th. Citigroup lifted their price target on Regions Financial from $20.00 to $21.00 and gave the stock a neutral rating in a report on Tuesday, July 25th. Truist Financial lifted their price target on Regions Financial from $19.00 to $22.00 in a report on Wednesday, July 26th. Finally, DA Davidson lifted their price target on Regions Financial from $21.00 to $23.00 and gave the stock a buy rating in a report on Monday, July 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $23.03.

Regions Financial Price Performance

Regions Financial stock opened at $18.19 on Tuesday. The company’s fifty day moving average price is $19.33 and its 200 day moving average price is $18.67. Regions Financial has a 1 year low of $13.94 and a 1 year high of $24.33. The stock has a market capitalization of $17.07 billion, a P/E ratio of 7.77, a P/E/G ratio of 1.08 and a beta of 1.19. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.83 and a current ratio of 0.84.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 21st. The bank reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. Regions Financial had a net margin of 26.86% and a return on equity of 16.54%. The firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter last year, the company earned $0.59 EPS. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Regions Financial will post 2.36 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.28%. This is an increase from Regions Financial’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, August 31st. Regions Financial’s dividend payout ratio is 41.03%.

Insider Activity at Regions Financial

In related news, EVP Ronald G. Smith sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $20.93, for a total value of $209,300.00. Following the completion of the transaction, the executive vice president now directly owns 281,151 shares of the company’s stock, valued at $5,884,490.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Regions Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dark Forest Capital Management LP purchased a new stake in shares of Regions Financial during the first quarter worth approximately $26,000. Horan Securities Inc. purchased a new stake in shares of Regions Financial during the first quarter worth approximately $27,000. Cullen Frost Bankers Inc. raised its stake in shares of Regions Financial by 169.0% during the first quarter. Cullen Frost Bankers Inc. now owns 1,520 shares of the bank’s stock worth $28,000 after purchasing an additional 955 shares during the last quarter. Spire Wealth Management raised its stake in shares of Regions Financial by 307.5% during the first quarter. Spire Wealth Management now owns 1,528 shares of the bank’s stock worth $28,000 after purchasing an additional 1,153 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in shares of Regions Financial during the first quarter worth approximately $36,000. Hedge funds and other institutional investors own 75.84% 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.