Regions Financial (NYSE:RF) Given New $20.00 Price Target at Truist Financial

Regions Financial (NYSE:RF) had its price objective lowered by Truist Financial from $22.00 to $20.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a hold rating on the bank’s stock.

Several other brokerages also recently weighed in on RF. Barclays reaffirmed an underweight rating and set a $22.00 price target (up from $20.00) on shares of Regions Financial in a research report on Tuesday, January 2nd. Royal Bank of Canada boosted their price target on Regions Financial from $19.00 to $21.00 and gave the company an outperform rating in a report on Monday, January 22nd. Keefe, Bruyette & Woods raised their price objective on shares of Regions Financial from $21.00 to $22.00 and gave the stock a market perform rating in a research note on Friday, April 5th. Argus lowered shares of Regions Financial from a buy rating to a hold rating in a report on Tuesday, January 23rd. Finally, Jefferies Financial Group raised shares of Regions Financial from a hold rating to a buy rating and increased their price target for the stock from $15.00 to $22.00 in a report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $20.17.

Regions Financial Trading Up 1.5 %

Regions Financial stock opened at $19.19 on Monday. Regions Financial has a 52 week low of $13.72 and a 52 week high of $21.08. The stock has a 50-day moving average price of $19.33 and a 200 day moving average price of $18.03. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $17.63 billion, a price-to-earnings ratio of 10.43, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.08). The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The business’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Sell-side analysts anticipate that Regions Financial will post 1.97 EPS for the current year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.24 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.96 annualized dividend and a dividend yield of 5.00%. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RF. Laurel Wealth Advisors LLC boosted its stake in Regions Financial by 86.5% during the fourth quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock worth $27,000 after buying an additional 649 shares during the last quarter. MV Capital Management Inc. boosted its position in shares of Regions Financial by 75.6% during the 1st quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after acquiring an additional 618 shares during the last quarter. ICA Group Wealth Management LLC purchased a new stake in shares of Regions Financial in the fourth quarter valued at about $28,000. Sound Income Strategies LLC increased its position in Regions Financial by 103.2% during the fourth quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock worth $29,000 after purchasing an additional 750 shares during the last quarter. Finally, Moisand Fitzgerald Tamayo LLC purchased a new position in Regions Financial during the third quarter worth about $26,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

About Regions Financial

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.