Regions Financial (NYSE:RF) Given New $25.00 Price Target at Truist Financial

by · The Cerbat Gem

Regions Financial (NYSE:RF – Free Report) had its price objective increased by Truist Financial from $23.00 to $25.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a hold rating on the bank’s stock.

Other research analysts have also recently issued reports about the company. Citigroup boosted their target price on Regions Financial from $25.00 to $26.00 and gave the company a buy rating in a research note on Thursday. Jefferies Financial Group boosted their price objective on Regions Financial from $22.00 to $24.00 and gave the company a buy rating in a research report on Wednesday, July 3rd. Morgan Stanley raised their target price on shares of Regions Financial from $25.00 to $28.00 and gave the stock an overweight rating in a report on Tuesday, July 30th. StockNews.com raised shares of Regions Financial from a sell rating to a hold rating in a research note on Thursday, September 12th. Finally, Bank of America increased their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the stock a neutral rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $21.69.

Get Our Latest Stock Report on RF

Regions Financial Stock Performance

Shares of NYSE:RF opened at $23.11 on Friday. The business has a 50-day moving average price of $22.08 and a two-hundred day moving average price of $20.43. The stock has a market capitalization of $21.16 billion, a P/E ratio of 12.56, a P/E/G ratio of 2.82 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 current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33.

Regions Financial (NYSE:RF – Get Free Report) last posted its quarterly earnings results on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the company earned $0.59 EPS. The firm’s revenue was down 11.5% on a year-over-year basis. Equities analysts predict that Regions Financial will post 2 earnings per share for the current year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s dividend payout ratio is presently 54.35%.

Hedge Funds Weigh In On Regions Financial

A number of institutional investors have recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Regions Financial by 78.3% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,600 shares of the bank’s stock valued at $7,467,000 after acquiring an additional 163,600 shares during the period. Sanctuary Advisors LLC bought a new position in Regions Financial during the second quarter worth about $1,653,000. Truist Financial Corp grew its holdings in Regions Financial by 2.1% during the second quarter. Truist Financial Corp now owns 190,853 shares of the bank’s stock worth $3,825,000 after purchasing an additional 4,001 shares during the period. Chase Investment Counsel Corp acquired a new position in Regions Financial during the second quarter worth approximately $256,000. Finally, Quarry LP raised its stake in Regions Financial by 157.2% in the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after buying an additional 816 shares during the period. 79.39% of the stock is currently owned by institutional investors and hedge funds.

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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