Regions Financial (NYSE:RF) Sets New 52-Week High at $23.25

Regions Financial Co. (NYSE:RF) shares hit a new 52-week high during trading on Thursday . The company traded as high as $23.25 and last traded at $23.09, with a volume of 1269560 shares. The stock had previously closed at $22.98.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Bank of America boosted their target price on shares of Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Morgan Stanley upped their price objective on shares of Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Jefferies Financial Group raised their target price on Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Wells Fargo & Company upped their price target on Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. Finally, Truist Financial increased their price target on Regions Financial from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $21.51.

Regions Financial Stock Up 0.9 %

The firm’s fifty day simple moving average is $21.24 and its two-hundred day simple moving average is $19.98. 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 capitalization of $21.45 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 2.77 and a beta of 1.18.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, July 19th. The bank reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The company’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 earnings per share. Sell-side analysts anticipate that Regions Financial Co. will post 2 EPS for the current year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.27%. The ex-dividend date is Tuesday, September 3rd. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s dividend payout ratio (DPR) is 54.35%.

Hedge Funds Weigh In On Regions Financial

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Regions Financial by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after buying an additional 3,119,237 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Regions Financial by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock worth $1,080,928,000 after acquiring an additional 1,951,026 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Regions Financial by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after acquiring an additional 979,597 shares in the last quarter. Norges Bank purchased a new position in Regions Financial in the fourth quarter valued at $210,379,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Regions Financial by 1.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank’s stock worth $162,163,000 after purchasing an additional 103,529 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

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.