Regions Financial Corporation (NYSE:RF) Receives Consensus Rating of “Hold” from Brokerages

Regions Financial Corporation (NYSE:RF) has earned a consensus rating of “Hold” from the seventeen ratings firms that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $29.3125.

A number of research analysts recently weighed in on the stock. Morgan Stanley set a $31.00 target price on shares of Regions Financial in a research note on Monday, January 19th. Piper Sandler boosted their price objective on Regions Financial from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. Barclays upped their price objective on Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, January 5th. TD Cowen reissued a “buy” rating on shares of Regions Financial in a research note on Tuesday, October 21st. Finally, Wells Fargo & Company downgraded Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price target for the company. in a research note on Friday, January 16th.

Insider Buying and Selling

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the business’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total value of $1,036,080.00. Following the sale, the executive vice president owned 17,569 shares in the company, valued at $505,635.82. The trade was a 67.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Regions Financial

Institutional investors have recently bought and sold shares of the business. Empowered Funds LLC raised its position in shares of Regions Financial by 7.2% during the 1st quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after buying an additional 1,278 shares in the last quarter. Woodline Partners LP increased its stake in Regions Financial by 40.7% during the first quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock worth $1,669,000 after acquiring an additional 22,216 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in Regions Financial during the second quarter valued at approximately $44,000. DAVENPORT & Co LLC purchased a new stake in Regions Financial during the second quarter valued at approximately $202,000. Finally, KLP Kapitalforvaltning AS lifted its stake in shares of Regions Financial by 5.4% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 327,826 shares of the bank’s stock valued at $7,778,000 after purchasing an additional 16,800 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Trading Up 1.5%

Shares of NYSE:RF opened at $30.97 on Friday. The stock has a 50 day moving average of $27.85 and a 200 day moving average of $26.39. The company has a market cap of $27.16 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 1.08 and a beta of 1.04. Regions Financial has a 12-month low of $17.74 and a 12-month high of $31.17. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, January 16th. The bank reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.04). The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. Regions Financial’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 EPS. As a group, equities research analysts expect that Regions Financial will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a dividend of $0.265 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.4%. Regions Financial’s dividend payout ratio is currently 46.29%.

Regions Financial declared that its board has authorized a stock buyback plan on Wednesday, December 10th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the bank to purchase up to 12.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.