Regions Financial (NYSE:RF) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of Regions Financial (NYSE:RF) from a hold rating to a sell rating in a research note published on Tuesday.

RF has been the topic of several other research reports. Jefferies Financial Group upped their target price on Regions Financial from $22.00 to $24.00 and gave the stock a buy rating in a report on Wednesday, July 3rd. Wells Fargo & Company increased their price objective on Regions Financial from $18.00 to $22.00 and gave the company an equal weight rating in a report on Monday, July 22nd. Evercore ISI lowered their target price on shares of Regions Financial from $22.00 to $21.00 and set an in-line rating on the stock in a report on Tuesday, June 25th. Morgan Stanley increased their price target on shares of Regions Financial from $25.00 to $28.00 and gave the company an overweight rating in a research note on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Regions Financial from $22.00 to $21.00 and set a market perform rating on the stock in a report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $21.51.

Regions Financial Stock Down 1.9 %

Shares of Regions Financial stock opened at $22.17 on Tuesday. The firm has a market cap of $20.30 billion, a PE ratio of 12.24, a P/E/G ratio of 3.01 and a beta of 1.18. The business’s 50 day simple moving average is $21.55 and its 200 day simple moving average is $20.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. Regions Financial has a 52-week low of $13.72 and a 52-week high of $23.47.

Regions Financial (NYSE:RF) last announced its quarterly earnings data 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 net margin of 18.91% and a return on equity of 12.64%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. On average, analysts predict that Regions Financial will post 2 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.51%. 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. Regions Financial’s dividend payout ratio (DPR) is currently 54.35%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new position in Regions Financial during the 2nd quarter worth $1,653,000. Truist Financial Corp grew its holdings in shares of Regions Financial by 2.1% during the 2nd 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 in the last quarter. Chase Investment Counsel Corp bought a new position in shares of Regions Financial in the second quarter worth $256,000. 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 purchasing an additional 816 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in Regions Financial by 6.7% during the second quarter. NewEdge Advisors LLC now owns 57,792 shares of the bank’s stock worth $1,158,000 after purchasing an additional 3,638 shares during the period. 79.39% of the stock is owned by institutional investors.

Regions Financial Company Profile

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.