Regions Financial (NYSE:RF) Reaches New 12-Month High – What’s Next?

by · The Markets Daily

Regions Financial Corporation (NYSE:RF – Get Free Report)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $27.70 and last traded at $27.6120, with a volume of 1141102 shares trading hands. The stock had previously closed at $27.38.

Analyst Ratings Changes

A number of analysts have recently weighed in on RF shares. Morgan Stanley set a $32.00 price objective on shares of Regions Financial in a research note on Monday, September 29th. Evercore ISI boosted their target price on shares of Regions Financial from $28.00 to $29.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Cantor Fitzgerald assumed coverage on shares of Regions Financial in a report on Wednesday, September 10th. They set an “overweight” rating and a $30.00 price target for the company. Truist Financial dropped their price objective on Regions Financial from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Monday, October 20th. Finally, Cowen restated a “buy” rating on shares of Regions Financial in a research note on Tuesday, October 21st. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $27.93.

Get Our Latest Analysis on RF

Regions Financial Price Performance

The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.27. The stock’s 50-day moving average price is $24.96 and its 200 day moving average price is $24.90. The firm has a market cap of $24.36 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 1.17 and a beta of 1.04.

Regions Financial (NYSE:RF – Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The bank reported $0.39 EPS for the quarter. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%.The firm had revenue of $1.81 billion during the quarter. Equities research analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, December 1st. Regions Financial’s dividend payout ratio (DPR) is 46.70%.

Regions Financial announced that its board has authorized a share buyback program on Wednesday, December 10th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the bank to reacquire up to 12.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Regions Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. American National Bank & Trust lifted its stake in Regions Financial by 2,433.3% during the second quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock worth $25,000 after purchasing an additional 1,022 shares during the period. CVA Family Office LLC raised its holdings in shares of Regions Financial by 163.2% in the 2nd quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock worth $25,000 after buying an additional 656 shares in the last quarter. Darwin Wealth Management LLC bought a new position in shares of Regions Financial during the 2nd quarter worth approximately $25,000. Bayforest Capital Ltd boosted its stake in Regions Financial by 637.3% in the 1st quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank’s stock valued at $27,000 after buying an additional 1,058 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in Regions Financial in the second quarter valued at $30,000. Institutional investors own 79.39% of the company’s stock.

Regions Financial Company Profile

(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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