Regions Financial (NYSE:RF) Price Target Cut to $28.00 by Analysts at Truist Financial

Regions Financial (NYSE:RF) had its target price trimmed by Truist Financial from $29.00 to $28.00 in a report published on Monday morning,Benzinga reports. The firm currently has a hold rating on the bank’s stock.

A number of other analysts have also issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Regions Financial in a report on Monday, December 29th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $32.00 target price on shares of Regions Financial in a research report on Tuesday, January 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $32.00 target price on shares of Regions Financial in a report on Tuesday, March 3rd. Wall Street Zen downgraded Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Finally, JPMorgan Chase & Co. raised their price target on Regions Financial from $29.00 to $31.50 and gave the company a “neutral” rating in a research note on Monday, February 9th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $29.91.

Regions Financial Trading Up 0.4%

Shares of RF opened at $25.45 on Monday. The firm has a market capitalization of $21.98 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 0.90 and a beta of 1.02. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. Regions Financial has a 1-year low of $17.74 and a 1-year high of $31.53. The company has a 50-day moving average of $28.17 and a 200 day moving average of $26.79.

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

Regions Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be paid a $0.265 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 4.2%. Regions Financial’s payout ratio is 46.29%.

Regions Financial declared that its Board of Directors has approved a share repurchase program on Wednesday, December 10th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the bank to reacquire up to 12.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction on 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 sale, the executive vice president owned 17,569 shares of the company’s stock, valued at approximately $505,635.82. This trade represents a 67.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Regions Financial

Hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. boosted its position in Regions Financial by 5.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 70,801 shares of the bank’s stock valued at $1,919,000 after purchasing an additional 3,893 shares in the last quarter. World Investment Advisors raised its holdings in Regions Financial by 11.1% in the fourth quarter. World Investment Advisors now owns 17,855 shares of the bank’s stock worth $484,000 after purchasing an additional 1,790 shares in the last quarter. Nalls Sherbakoff Group LLC bought a new position in Regions Financial in the fourth quarter worth about $1,443,000. Corient Private Wealth LLC lifted its position in shares of Regions Financial by 34.8% during the fourth quarter. Corient Private Wealth LLC now owns 120,539 shares of the bank’s stock valued at $3,268,000 after buying an additional 31,148 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of Regions Financial by 1.1% during the fourth quarter. Hsbc Holdings PLC now owns 2,021,803 shares of the bank’s stock valued at $54,831,000 after buying an additional 22,033 shares during the last quarter. 79.39% of the stock is currently 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.