Regions Financial (NYSE:RF) Given New $28.00 Price Target at The Goldman Sachs Group

Regions Financial (NYSE:RF) had its price objective upped by The Goldman Sachs Group from $25.00 to $28.00 in a research report report published on Monday morning, Benzinga reports. They currently have a buy rating on the bank’s stock.

A number of other analysts also recently issued reports on RF. Citigroup raised their price objective on Regions Financial from $25.00 to $26.00 and gave the stock a buy rating in a research report on Thursday, September 19th. Bank of America upped their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the stock a neutral rating in a report on Monday, July 22nd. Wells Fargo & Company increased their price objective on shares of Regions Financial from $18.00 to $22.00 and gave the stock an equal weight rating in a research report on Monday, July 22nd. Evercore ISI boosted their target price on Regions Financial from $24.50 to $26.00 and gave the company an in-line rating in a research report on Wednesday, October 2nd. Finally, Truist Financial raised their price target on Regions Financial from $23.00 to $25.00 and gave the stock a hold rating in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $22.86.

Regions Financial Price Performance

Shares of Regions Financial stock opened at $23.04 on Monday. The stock has a market capitalization of $21.08 billion, a P/E ratio of 13.02, a PEG ratio of 2.80 and a beta of 1.17. The business has a 50 day simple moving average of $22.26 and a two-hundred day simple moving average of $20.74. Regions Financial has a 12 month low of $13.72 and a 12 month high of $23.47. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, July 19th. The bank reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. Regions Financial’s quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 EPS. As a group, analysts predict that Regions Financial will post 2.02 EPS for the current fiscal year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 4.34%. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s dividend payout ratio is presently 56.50%.

Institutional Investors Weigh In On Regions Financial

A number of institutional investors have recently added to or reduced their stakes in the business. Cincinnati Insurance Co. purchased a new position in shares of Regions Financial in the 1st quarter valued at about $74,606,000. Vanguard Group Inc. increased its holdings in Regions Financial by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after buying an additional 3,119,237 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Regions Financial by 3.6% during the 4th quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock valued at $1,080,928,000 after acquiring an additional 1,951,026 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in shares of Regions Financial during the 1st quarter worth approximately $33,829,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Regions Financial by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock worth $285,562,000 after acquiring an additional 979,597 shares during the period. Hedge funds and other institutional investors 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.