Truist Financial Boosts Regions Financial (NYSE:RF) Price Target to $25.00

Regions Financial (NYSE:RF) had its price target upped by Truist Financial from $23.00 to $25.00 in a report published on Friday, Benzinga reports. The firm currently has a hold rating on the bank’s stock.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley increased their price objective on Regions Financial from $25.00 to $28.00 and gave the company an overweight rating in a research report on Tuesday, July 30th. Bank of America raised their price target 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. Wells Fargo & Company upped their price objective on shares of Regions Financial from $18.00 to $22.00 and gave the company an equal weight rating in a research report on Monday, July 22nd. StockNews.com raised Regions Financial from a sell rating to a hold rating in a research report on Thursday, September 12th. Finally, Keefe, Bruyette & Woods cut their price target on Regions Financial from $22.00 to $21.00 and set a market perform rating for the company in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $21.69.

Regions Financial Price Performance

NYSE RF opened at $23.11 on Friday. Regions Financial has a 1 year low of $13.72 and a 1 year high of $23.47. The company has a fifty day simple moving average of $22.08 and a 200 day simple moving average of $20.43. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. The company has a market cap 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 (NYSE:RF) last issued its quarterly earnings results on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the business posted $0.59 earnings per share. The firm’s revenue was down 11.5% compared to the same quarter last year. On average, sell-side analysts predict that Regions Financial will post 2 EPS for the current year.

Regions Financial Increases Dividend

The company 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 dividend of $0.25 per share. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 4.33%. Regions Financial’s dividend payout ratio (DPR) is presently 54.35%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC bought a new position in Regions Financial in the 4th quarter valued at $2,047,000. Corient Private Wealth LLC lifted its position in Regions Financial by 0.8% during the 4th quarter. Corient Private Wealth LLC now owns 102,438 shares of the bank’s stock worth $1,985,000 after buying an additional 821 shares in the last quarter. CreativeOne Wealth LLC grew its holdings in Regions Financial by 83.7% during the 4th quarter. CreativeOne Wealth LLC now owns 19,785 shares of the bank’s stock worth $383,000 after acquiring an additional 9,017 shares during the last quarter. Assetmark Inc. increased its position in Regions Financial by 31.2% in the 4th quarter. Assetmark Inc. now owns 12,006 shares of the bank’s stock valued at $233,000 after acquiring an additional 2,854 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Regions Financial by 6.3% in the fourth quarter. Franklin Resources Inc. now owns 480,090 shares of the bank’s stock worth $9,304,000 after acquiring an additional 28,584 shares during the last quarter. 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.