Regions Financial (NYSE:RF) Given New $21.00 Price Target at Evercore ISI

Regions Financial (NYSE:RF) had its price objective decreased by Evercore ISI from $22.00 to $21.00 in a research note published on Tuesday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the bank’s stock.

RF has been the subject of several other reports. Morgan Stanley dropped their target price on Regions Financial from $27.00 to $25.00 and set an overweight rating for the company in a report on Monday, April 22nd. Citigroup upgraded Regions Financial from a neutral rating to a buy rating and boosted their target price for the stock from $20.00 to $23.00 in a research note on Monday, March 18th. Piper Sandler raised their price target on Regions Financial from $20.00 to $21.00 and gave the stock a neutral rating in a research note on Friday, April 26th. Keefe, Bruyette & Woods boosted their price target on Regions Financial from $21.00 to $22.00 and gave the company a market perform rating in a research report on Friday, April 5th. Finally, Truist Financial reduced their price target on Regions Financial from $22.00 to $20.00 and set a hold rating for the company in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $20.28.

Regions Financial Price Performance

NYSE:RF opened at $19.20 on Tuesday. The stock has a market capitalization of $17.58 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 2.08 and a beta of 1.19. Regions Financial has a 52 week low of $13.72 and a 52 week high of $21.08. The stock’s 50-day moving average price is $19.27 and its 200-day moving average price is $19.14. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the previous year, the business earned $0.62 earnings per share. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, equities analysts expect that Regions Financial will post 1.96 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend is Monday, June 3rd. Regions Financial’s payout ratio is 52.17%.

Insiders Place Their Bets

In other news, Director William C. Rhodes III acquired 50,000 shares of Regions Financial stock in a transaction dated Tuesday, April 23rd. The shares were acquired at an average cost of $19.37 per share, with a total value of $968,500.00. Following the purchase, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $968,500. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director William C. Rhodes III acquired 50,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were bought at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the purchase, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $968,500. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total value of $458,850.00. Following the sale, the executive vice president now owns 41,671 shares of the company’s stock, valued at approximately $831,336.45. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted 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 worth $2,281,118,000 after purchasing an additional 3,119,237 shares during the period. Wellington Management Group LLP grew its position in Regions Financial by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock valued at $1,080,928,000 after purchasing an additional 1,951,026 shares in the last quarter. Norges Bank purchased a new stake in Regions Financial in the 4th quarter worth approximately $210,379,000. Allspring Global Investments Holdings LLC boosted its position in Regions Financial by 1.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank’s stock valued at $162,163,000 after purchasing an additional 103,529 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Regions Financial by 0.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,541,154 shares of the bank’s stock worth $95,371,000 after purchasing an additional 44,882 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Company Profile

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.