Regions Financial (NYSE:RF) Price Target Raised to $31.50 at JPMorgan Chase & Co.

Regions Financial (NYSE:RF) had its price objective hoisted by JPMorgan Chase & Co. from $29.00 to $31.50 in a report issued on Monday,Benzinga reports. They currently have a neutral rating on the bank’s stock.

Several other brokerages also recently commented on RF. Barclays increased their price objective on shares of Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, January 5th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $32.00 price objective on shares of Regions Financial in a research report on Tuesday, January 6th. Truist Financial raised their price target on shares of Regions Financial from $26.00 to $29.00 and gave the company a “hold” rating in a report on Monday, December 22nd. Wells Fargo & Company downgraded shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price objective on the stock. in a research report on Friday, January 16th. Finally, TD Cowen restated a “buy” rating on shares of Regions Financial in a research note on Tuesday, October 21st. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $29.84.

Regions Financial Stock Down 0.4%

RF stock opened at $30.80 on Monday. Regions Financial has a fifty-two week low of $17.74 and a fifty-two week high of $31.17. The company has a market capitalization of $27.01 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 1.10 and a beta of 1.04. The business’s 50 day moving average price is $27.95 and its two-hundred day moving average price is $26.42. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80.

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). Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the company earned $0.56 earnings per share. Regions Financial’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, analysts forecast that Regions Financial will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, March 2nd. Regions Financial’s payout ratio is presently 46.29%.

Regions Financial declared that its Board of Directors has approved a stock buyback plan on Wednesday, December 10th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the bank to purchase up to 12.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the completion of the sale, the executive vice president owned 17,569 shares in the company, valued at approximately $505,635.82. This trade represents a 67.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Regions Financial

A number of institutional investors have recently added to or reduced their stakes in the stock. Centaurus Financial Inc. boosted its position in shares of Regions Financial by 3.9% during the second quarter. Centaurus Financial Inc. now owns 10,230 shares of the bank’s stock worth $241,000 after acquiring an additional 382 shares during the last quarter. West Paces Advisors Inc. grew its position in shares of Regions Financial by 4.0% during the fourth quarter. West Paces Advisors Inc. now owns 10,505 shares of the bank’s stock valued at $285,000 after purchasing an additional 405 shares in the last quarter. Park Avenue Securities LLC increased its holdings in shares of Regions Financial by 0.6% in the fourth quarter. Park Avenue Securities LLC now owns 79,012 shares of the bank’s stock worth $2,141,000 after purchasing an additional 443 shares during the last quarter. Fairvoy Private Wealth LLC increased its stake in Regions Financial by 1.9% in the 3rd quarter. Fairvoy Private Wealth LLC now owns 23,670 shares of the bank’s stock worth $624,000 after acquiring an additional 449 shares during the last quarter. Finally, Southeast Asset Advisors LLC grew its holdings in shares of Regions Financial by 0.5% in the third quarter. Southeast Asset Advisors LLC now owns 103,704 shares of the bank’s stock valued at $2,735,000 after purchasing an additional 474 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Company Profile

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.