Regions Financial (NYSE:RF) Given New $23.00 Price Target at JPMorgan Chase & Co.

Regions Financial (NYSE:RF) had its price target lowered by JPMorgan Chase & Co. from $26.00 to $23.00 in a report issued on Thursday,Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

Other analysts also recently issued reports about the stock. Truist Financial decreased their price objective on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a report on Friday, March 21st. Citigroup lowered their price target on Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Wells Fargo & Company cut their price objective on Regions Financial from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Friday, March 28th. Morgan Stanley restated an “equal weight” rating and set a $32.00 target price (up previously from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Finally, Compass Point lifted their price target on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.95.

Regions Financial Trading Down 10.8 %

Regions Financial stock opened at $19.65 on Thursday. Regions Financial has a one year low of $17.72 and a one year high of $27.96. The company’s fifty day moving average price is $23.00 and its two-hundred day moving average price is $23.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The company has a market capitalization of $17.79 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 1.93 and a beta of 1.19.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period last year, the business earned $0.39 EPS. On average, analysts forecast that Regions Financial will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 5.09%. Regions Financial’s dividend payout ratio is currently 51.55%.

Insider Buying and Selling

In other news, Director Joia M. Johnson purchased 2,300 shares of Regions Financial stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the transaction, the director now directly owns 17,486 shares in the company, valued at approximately $370,353.48. This represents a 15.15 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 3,868 shares of company stock worth $86,722 in the last 90 days. 0.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of RF. Norges Bank acquired a new position in Regions Financial during the 4th quarter worth $279,103,000. State Street Corp raised its position in shares of Regions Financial by 16.3% during the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after acquiring an additional 7,791,399 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Regions Financial by 14.5% during the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank’s stock valued at $363,823,000 after acquiring an additional 1,963,954 shares during the period. Deutsche Bank AG lifted its stake in shares of Regions Financial by 52.7% during the fourth quarter. Deutsche Bank AG now owns 5,522,612 shares of the bank’s stock valued at $129,892,000 after acquiring an additional 1,907,121 shares during the period. Finally, National Bank of Canada FI boosted its holdings in Regions Financial by 575.8% in the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock valued at $39,784,000 after acquiring an additional 1,452,956 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

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.