Regions Financial (NYSE:RF) Now Covered by Analysts at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Regions Financial (NYSE:RF) in a research report released on Wednesday, Marketbeat reports. The brokerage issued an overweight rating and a $30.00 price target on the bank’s stock.

RF has been the topic of several other research reports. Stephens raised their price objective on Regions Financial from $24.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, July 21st. Cowen assumed coverage on Regions Financial in a research report on Wednesday, May 14th. They set a “buy” rating for the company. Truist Financial reaffirmed a “hold” rating on shares of Regions Financial in a research report on Friday, May 23rd. Citigroup raised their target price on Regions Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, Wall Street Zen raised Regions Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. Twelve equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.47.

Regions Financial Trading Up 0.8%

NYSE RF opened at $27.04 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.30. Regions Financial has a twelve month low of $17.74 and a twelve month high of $27.96. The company has a market cap of $24.13 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 1.54 and a beta of 1.02. The business’s fifty day moving average is $25.81 and its 200 day moving average is $22.94.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, July 18th. The bank reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. Regions Financial had a return on equity of 13.08% and a net margin of 21.81%.The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the business posted $0.52 EPS. Regions Financial’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, sell-side analysts expect that Regions Financial will post 2.26 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a $0.265 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.9%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.25. Regions Financial’s dividend payout ratio (DPR) is presently 49.30%.

Insider Buying and Selling

In other Regions Financial news, EVP David R. Keenan sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $25.01, for a total value of $750,300.00. Following the transaction, the executive vice president owned 90,915 shares in the company, valued at approximately $2,273,784.15. This represents a 24.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roger W. Jenkins purchased 4,000 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was purchased at an average price of $25.48 per share, for a total transaction of $101,920.00. Following the acquisition, the director owned 6,383 shares of the company’s stock, valued at approximately $162,638.84. This represents a 167.86% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RF. American National Bank & Trust boosted its holdings in Regions Financial by 2,433.3% in the second quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock worth $25,000 after acquiring an additional 1,022 shares in the last quarter. CVA Family Office LLC boosted its holdings in Regions Financial by 163.2% in the second quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock worth $25,000 after acquiring an additional 656 shares in the last quarter. Darwin Wealth Management LLC bought a new position in Regions Financial in the second quarter worth approximately $25,000. Bayforest Capital Ltd boosted its holdings in Regions Financial by 637.3% in the first quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank’s stock worth $27,000 after acquiring an additional 1,058 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in Regions Financial during the 2nd quarter valued at about $30,000. 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.