Regions Financial (NYSE:RF) Now Covered by Analysts at Brean Capital

Brean Capital initiated coverage on shares of Regions Financial (NYSE:RF) in a report released on Thursday morning. The firm issued a neutral rating on the bank’s stock.

Several other equities analysts also recently issued reports on RF. Wall Street Zen downgraded Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Truist Financial increased their price objective on Regions Financial from $26.00 to $29.00 and gave the company a “hold” rating in a report on Monday, December 22nd. UBS Group restated a “neutral” rating and issued a $30.00 price objective on shares of Regions Financial in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Regions Financial in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of Regions Financial from $29.00 to $31.50 and gave the stock a “neutral” rating in a report on Monday, February 9th. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $29.97.

Regions Financial Stock Down 3.4%

NYSE:RF opened at $25.32 on Thursday. The company has a market cap of $21.86 billion, a PE ratio of 11.06, a P/E/G ratio of 0.93 and a beta of 1.02. Regions Financial has a twelve month low of $17.74 and a twelve month high of $31.53. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $28.61 and its two-hundred day moving average is $26.89.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the business posted $0.56 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Analysts anticipate 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 issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Monday, March 2nd. Regions Financial’s dividend payout ratio (DPR) is 46.29%.

Regions Financial declared that its Board of Directors has authorized a stock repurchase 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 stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Regions Financial

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The stock was 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 approximately $505,635.82. This represents a 67.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Regions Financial

Several large investors have recently made changes to their positions in the company. GAM Holding AG acquired a new position in Regions Financial in the 3rd quarter worth about $1,760,000. Allspring Global Investments Holdings LLC grew its holdings in Regions Financial by 2.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank’s stock valued at $241,289,000 after purchasing an additional 233,458 shares during the period. First Citizens Bank & Trust Co. increased its position in shares of Regions Financial by 6.8% in the third quarter. First Citizens Bank & Trust Co. now owns 690,344 shares of the bank’s stock valued at $18,204,000 after buying an additional 44,252 shares in the last quarter. iA Global Asset Management Inc. purchased a new stake in shares of Regions Financial in the third quarter valued at approximately $1,378,000. Finally, Teacher Retirement System of Texas raised its stake in shares of Regions Financial by 111.2% during the 3rd quarter. Teacher Retirement System of Texas now owns 290,563 shares of the bank’s stock worth $7,662,000 after buying an additional 152,987 shares during the period. 79.39% of the stock is currently owned by institutional investors and hedge funds.

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.