Regions Financial (NYSE:RF) Price Target Increased to $28.00 by Analysts at Morgan Stanley

Regions Financial (NYSE:RF) had its price objective lifted by Morgan Stanley from $25.00 to $28.00 in a research report report published on Tuesday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the bank’s stock.

Other equities analysts have also issued reports about the stock. Bank of America lifted their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the company a neutral rating in a research report on Monday, July 22nd. Piper Sandler lifted their price objective on shares of Regions Financial from $20.00 to $21.00 and gave the company a neutral rating in a research report on Friday, April 26th. Jefferies Financial Group lifted their price objective on shares of Regions Financial from $22.00 to $24.00 and gave the company a buy rating in a research report on Wednesday, July 3rd. Royal Bank of Canada lifted their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the company an outperform rating in a research report on Monday, July 22nd. Finally, StockNews.com upgraded shares of Regions Financial from a sell rating to a hold rating in a research report on Saturday, July 13th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Regions Financial has a consensus rating of Hold and a consensus target price of $21.51.

Regions Financial Stock Performance

Shares of RF opened at $20.88 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. The firm has a market cap of $19.11 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 2.87 and a beta of 1.18. The company’s 50 day simple moving average is $20.08 and its 200-day simple moving average is $19.54. Regions Financial has a 12-month low of $13.72 and a 12-month high of $22.88.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The company’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. As a group, equities analysts predict that Regions Financial will post 2 EPS for the current year.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s payout ratio is 52.17%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. IFG Advisory LLC raised its stake in Regions Financial by 1.8% in the 2nd quarter. IFG Advisory LLC now owns 30,928 shares of the bank’s stock valued at $620,000 after purchasing an additional 546 shares during the last quarter. HB Wealth Management LLC grew its holdings in Regions Financial by 0.6% in the 1st quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock valued at $2,035,000 after buying an additional 551 shares during the period. CWM LLC grew its holdings in Regions Financial by 1.4% in the 1st quarter. CWM LLC now owns 41,137 shares of the bank’s stock valued at $866,000 after buying an additional 556 shares during the period. Perigon Wealth Management LLC grew its holdings in Regions Financial by 2.8% in the 1st quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank’s stock valued at $433,000 after buying an additional 565 shares during the period. Finally, Signet Financial Management LLC grew its holdings in Regions Financial by 4.9% in the 1st quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock valued at $262,000 after buying an additional 584 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

About Regions Financial

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.