Truist Financial Cuts Regions Financial (NYSE:RF) Price Target to $20.00

Regions Financial (NYSE:RF) had its target price lowered by Truist Financial from $22.00 to $20.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a hold rating on the bank’s stock.

RF has been the topic of a number of other research reports. Morgan Stanley increased their price target on Regions Financial from $21.00 to $27.00 and gave the company an overweight rating in a research report on Tuesday, January 30th. Argus lowered Regions Financial from a buy rating to a hold rating in a research report on Tuesday, January 23rd. Citigroup raised Regions Financial from a neutral rating to a buy rating and increased their price target for the company from $20.00 to $23.00 in a research report on Monday, March 18th. Jefferies Financial Group raised Regions Financial from a hold rating to a buy rating and increased their price target for the company from $15.00 to $22.00 in a research report on Tuesday, January 9th. Finally, Evercore ISI increased their price target on Regions Financial from $20.00 to $22.00 and gave the company an in-line rating in a research report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $20.17.

Regions Financial Price Performance

RF opened at $19.75 on Monday. The stock’s 50-day moving average price is $19.39 and its 200 day moving average price is $18.06. Regions Financial has a 12-month low of $13.72 and a 12-month high of $21.08. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The firm has a market cap of $18.15 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 1.40 and a beta of 1.21.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.08). The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. Regions Financial’s revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 EPS. As a group, sell-side analysts expect that Regions Financial will post 1.95 earnings per share for the current year.

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.96 annualized dividend and a dividend yield of 4.86%. Regions Financial’s dividend payout ratio (DPR) is currently 52.17%.

Insider Buying and Selling at Regions Financial

In related news, Director William C. Rhodes III bought 50,000 shares of the stock in a transaction on Tuesday, April 23rd. The shares were bought at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the purchase, the director now owns 50,000 shares of the company’s stock, valued at approximately $968,500. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RF. Norges Bank acquired a new stake in shares of Regions Financial in the 4th quarter valued at approximately $210,379,000. Wellington Management Group LLP lifted its holdings in shares of Regions Financial by 8.4% in the 3rd quarter. Wellington Management Group LLP now owns 53,824,390 shares of the bank’s stock valued at $925,780,000 after buying an additional 4,160,768 shares during the period. Bahl & Gaynor Inc. lifted its holdings in shares of Regions Financial by 162.1% in the 3rd quarter. Bahl & Gaynor Inc. now owns 5,904,595 shares of the bank’s stock valued at $101,559,000 after buying an additional 3,651,390 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Regions Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after buying an additional 3,119,237 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in shares of Regions Financial in the 1st quarter valued at approximately $33,829,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

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.