Regions Financial (NYSE:RF) Given New $21.00 Price Target at Piper Sandler

Regions Financial (NYSE:RF) had its price target lifted by Piper Sandler from $20.00 to $21.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the bank’s stock.

RF has been the topic of a number of other research reports. Citigroup raised Regions Financial from a neutral rating to a buy rating and increased their price objective for the company from $20.00 to $23.00 in a report on Monday, March 18th. Barclays reissued an underweight rating and set a $22.00 price objective (up previously from $20.00) on shares of Regions Financial in a report on Tuesday, January 2nd. Royal Bank of Canada increased their price objective on Regions Financial from $19.00 to $21.00 and gave the company an outperform rating in a report on Monday, January 22nd. Stephens reissued an equal weight rating and set a $21.00 price objective on shares of Regions Financial in a report on Tuesday, January 23rd. Finally, StockNews.com lowered Regions Financial from a hold rating to a sell rating in a report on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $20.34.

Regions Financial Stock Performance

Shares of RF stock opened at $19.62 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82. Regions Financial has a fifty-two week low of $13.72 and a fifty-two week high of $21.08. The stock’s 50-day moving average is $19.43 and its two-hundred day moving average is $18.12. The firm has a market cap of $18.03 billion, a P/E ratio of 10.66, a PEG ratio of 1.43 and a beta of 1.21.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.62 earnings per share. Analysts predict that Regions Financial will post 1.95 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.89%. The ex-dividend date is Friday, May 31st. Regions Financial’s payout ratio is presently 52.17%.

Insider Buying and Selling

In related news, Director William C. Rhodes III bought 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was acquired at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at $968,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Regions Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. IFP Advisors Inc raised its position in Regions Financial by 52.2% in the 3rd quarter. IFP Advisors Inc now owns 8,843 shares of the bank’s stock valued at $152,000 after purchasing an additional 3,033 shares during the last quarter. CreativeOne Wealth LLC bought a new position in Regions Financial in the 3rd quarter valued at $185,000. Czech National Bank raised its position in Regions Financial by 47.7% in the 3rd quarter. Czech National Bank now owns 164,009 shares of the bank’s stock valued at $2,821,000 after purchasing an additional 52,932 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Regions Financial by 3.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 384,153 shares of the bank’s stock valued at $6,607,000 after purchasing an additional 11,093 shares during the last quarter. Finally, Simplicity Solutions LLC raised its position in Regions Financial by 3.1% in the 3rd quarter. Simplicity Solutions LLC now owns 28,421 shares of the bank’s stock valued at $489,000 after purchasing an additional 847 shares during the last quarter. 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.