Wedbush Increases Regions Financial (NYSE:RF) Price Target to $30.00

Regions Financial (NYSE:RF) had its target price lifted by Wedbush from $28.00 to $30.00 in a report released on Monday, Benzinga reports. Wedbush currently has an outperform rating on the bank’s stock.

A number of other equities analysts also recently commented on RF. Jefferies Financial Group lifted their price objective on Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Barclays lifted their target price on Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a research report on Monday. Truist Financial lifted their target price on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Monday. StockNews.com downgraded Regions Financial from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley lifted their target price on Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $24.35.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $23.75 on Monday. Regions Financial has a one year low of $13.72 and a one year high of $24.47. The company has a market cap of $21.75 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 2.80 and a beta of 1.17. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. The business’s 50 day moving average price is $22.87 and its 200 day moving average price is $20.98.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the business posted $0.49 EPS. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, research analysts predict that Regions Financial will post 2.02 EPS for the current year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 4.21%. Regions Financial’s payout ratio is 54.35%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RF. Bessemer Group Inc. boosted its position in shares of Regions Financial by 281.7% during the 1st quarter. Bessemer Group Inc. now owns 79,593 shares of the bank’s stock worth $1,675,000 after acquiring an additional 58,739 shares in the last quarter. UniSuper Management Pty Ltd boosted its position in shares of Regions Financial by 1,075.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 44,781 shares of the bank’s stock worth $942,000 after acquiring an additional 40,972 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Regions Financial by 30.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 415,105 shares of the bank’s stock worth $8,734,000 after acquiring an additional 98,003 shares in the last quarter. Swedbank AB acquired a new position in shares of Regions Financial during the 1st quarter worth about $19,322,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in shares of Regions Financial during the 1st quarter worth about $33,829,000. 79.39% of the stock is owned by institutional investors and hedge funds.

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.