Piper Sandler Cuts Regions Financial (NYSE:RF) Price Target to $28.00

by · The Markets Daily

Regions Financial (NYSE:RFFree Report) had its target price reduced by Piper Sandler from $31.00 to $28.00 in a research report report published on Monday morning,Benzinga reports. They currently have a neutral rating on the bank’s stock.

A number of other research analysts have also recently commented on the company. UBS Group reiterated a “neutral” rating and issued a $30.00 price target on shares of Regions Financial in a research note on Wednesday, February 4th. Evercore cut Regions Financial from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $27.00 to $29.00 in a report on Tuesday, January 6th. JPMorgan Chase & Co. increased their target price on Regions Financial from $29.00 to $31.50 and gave the company a “neutral” rating in a research report on Monday, February 9th. Brean Capital initiated coverage on Regions Financial in a research note on Thursday, March 12th. They set a “neutral” rating on the stock. Finally, Wall Street Zen cut Regions Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $29.91.

Get Our Latest Analysis on Regions Financial

Regions Financial Price Performance

RF stock opened at $26.33 on Monday. The company has a 50 day simple moving average of $27.84 and a 200 day simple moving average of $26.73. The stock has a market cap of $22.74 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 0.94 and a beta of 1.03. Regions Financial has a 1 year low of $17.74 and a 1 year high of $31.53. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80.

Regions Financial (NYSE:RFGet Free Report) last issued its earnings results on Friday, January 16th. The bank reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.56 EPS. Research analysts anticipate that Regions Financial will post 2.26 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd were given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Monday, March 2nd. Regions Financial’s payout ratio is 46.29%.

Regions Financial announced that its Board of Directors has approved a stock buyback plan on Wednesday, December 10th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 12.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the completion of the transaction, the executive vice president owned 17,569 shares in the company, valued at approximately $505,635.82. This trade represents a 67.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Regions Financial

Institutional investors have recently modified their holdings of the company. GAM Holding AG bought a new position in Regions Financial in the third quarter worth approximately $1,760,000. Allspring Global Investments Holdings LLC grew its stake in Regions Financial by 2.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank’s stock valued at $241,289,000 after acquiring an additional 233,458 shares during the period. First Citizens Bank & Trust Co. increased its holdings in shares of Regions Financial by 6.8% during the third quarter. First Citizens Bank & Trust Co. now owns 690,344 shares of the bank’s stock valued at $18,204,000 after acquiring an additional 44,252 shares in the last quarter. iA Global Asset Management Inc. acquired a new position in shares of Regions Financial during the third quarter worth approximately $1,378,000. Finally, Teacher Retirement System of Texas raised its position in shares of Regions Financial by 111.2% during the third quarter. Teacher Retirement System of Texas now owns 290,563 shares of the bank’s stock worth $7,662,000 after purchasing an additional 152,987 shares during the period. 79.39% of the stock is owned by institutional investors.

About Regions Financial

(Get Free Report)

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.

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