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

Shares of Regions Financial Corporation (NYSE:RF) have received a consensus rating of “Hold” from the eighteen brokerages that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $29.9063.

A number of analysts have recently weighed in on RF shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Regions Financial in a report on Monday, December 29th. Piper Sandler boosted their price target on Regions Financial from $29.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. UBS Group reaffirmed a “neutral” rating and set a $30.00 price target on shares of Regions Financial in a research report on Wednesday, February 4th. JPMorgan Chase & Co. increased their price objective on Regions Financial from $29.00 to $31.50 and gave the stock a “neutral” rating in a report on Monday, February 9th. Finally, Evercore lowered Regions Financial from an “in-line” rating to an “underperform” rating and lifted their price objective for the stock from $27.00 to $29.00 in a research report on Tuesday, January 6th.

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 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 completion of the transaction, the executive vice president directly owned 17,569 shares in the company, valued at approximately $505,635.82. This represents a 67.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Regions Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. Empowered Funds LLC lifted its holdings in Regions Financial by 7.2% in the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock worth $416,000 after buying an additional 1,278 shares during the period. Woodline Partners LP grew its holdings in shares of Regions Financial by 40.7% during the 1st 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 period. Steward Partners Investment Advisory LLC grew its holdings in shares of Regions Financial by 11.9% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 67,399 shares of the bank’s stock worth $1,585,000 after acquiring an additional 7,159 shares during the period. Laurel Wealth Advisors LLC raised its position in shares of Regions Financial by 2,252.1% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 10,114 shares of the bank’s stock worth $238,000 after acquiring an additional 9,684 shares in the last quarter. Finally, Choreo LLC lifted its stake in shares of Regions Financial by 5.6% in the 2nd quarter. Choreo LLC now owns 34,246 shares of the bank’s stock valued at $815,000 after purchasing an additional 1,820 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Trading Down 1.5%

NYSE:RF opened at $25.13 on Friday. The company has a fifty day moving average of $27.97 and a 200 day moving average of $26.75. Regions Financial has a 52 week low of $17.74 and a 52 week high of $31.53. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $21.70 billion, a P/E ratio of 10.98, a P/E/G ratio of 0.91 and a beta of 1.02.

Regions Financial (NYSE:RF) last announced 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 firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the business earned $0.56 EPS. Regions Financial’s revenue was up 5.8% on a year-over-year basis. On average, research analysts predict that Regions Financial will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

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

Regions Financial announced that its board has authorized a stock repurchase plan on Wednesday, December 10th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the bank to buy up to 12.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

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.