Regions Financial (NYSE:RF) PT Raised to $28.00 at The Goldman Sachs Group

by · The Markets Daily

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

Several other equities analysts have also recently issued reports on the company. Bank of America raised their price objective on Regions Financial from $22.00 to $25.00 and gave the stock a neutral rating in a research note on Monday, July 22nd. Keefe, Bruyette & Woods lowered their price objective on shares of Regions Financial from $22.00 to $21.00 and set a market perform rating for the company in a research report on Tuesday, July 9th. Jefferies Financial Group raised their target price on shares of Regions Financial from $22.00 to $24.00 and gave the stock a buy rating in a report on Wednesday, July 3rd. Wedbush raised Regions Financial from a neutral rating to an outperform rating and upped their target price for the company from $23.00 to $28.00 in a report on Tuesday, September 24th. Finally, Morgan Stanley raised their price target on Regions Financial from $25.00 to $28.00 and gave the stock an overweight rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $22.86.

Check Out Our Latest Analysis on Regions Financial

Regions Financial Price Performance

Shares of RF stock opened at $23.08 on Monday. The firm has a fifty day moving average of $22.22 and a two-hundred day moving average of $20.71. The firm has a market cap of $21.14 billion, a P/E ratio of 12.54, a P/E/G ratio of 2.95 and a beta of 1.17. Regions Financial has a 1-year low of $13.72 and a 1-year 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 – Get Free Report) last posted its quarterly earnings results on Friday, July 19th. The bank reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the firm earned $0.59 earnings per share. The company’s revenue for the quarter was down 11.5% compared to the same quarter last year. As a group, research analysts anticipate that Regions Financial will post 2.01 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were paid a $0.25 dividend. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Tuesday, September 3rd. Regions Financial’s dividend payout ratio is currently 54.35%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. EntryPoint Capital LLC bought a new position in Regions Financial during the 1st quarter valued at $26,000. American National Bank & Trust boosted its stake in Regions Financial by 1,856.7% during the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock valued at $27,000 after buying an additional 1,114 shares in the last quarter. Quarry LP grew its holdings in Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after acquiring an additional 816 shares during the period. MV Capital Management Inc. raised its position in Regions Financial by 75.6% in the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after acquiring an additional 618 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Regions Financial by 530.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,256 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

About Regions Financial

(Get Free Report)

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.

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