Keefe, Bruyette & Woods Trims Regions Financial (NYSE:RF) Target Price to $21.00

Regions Financial (NYSE:RF) had its price objective cut by Keefe, Bruyette & Woods from $22.00 to $21.00 in a report published on Tuesday morning, Benzinga reports. They currently have a market perform rating on the bank’s stock.

Several other brokerages also recently weighed in on RF. Truist Financial upped their target price on shares of Regions Financial from $20.00 to $21.00 and gave the stock a hold rating in a research note on Monday, July 8th. Morgan Stanley cut their target price on shares of Regions Financial from $27.00 to $25.00 and set an overweight rating on the stock in a research note on Monday, April 22nd. Citigroup raised shares of Regions Financial from a neutral rating to a buy rating and upped their target price for the stock from $20.00 to $23.00 in a research note on Monday, March 18th. StockNews.com downgraded shares of Regions Financial from a hold rating to a sell rating in a research note on Friday, July 5th. Finally, Piper Sandler upped their target price on shares of Regions Financial from $20.00 to $21.00 and gave the stock a neutral rating in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $20.39.

Regions Financial Price Performance

Regions Financial stock opened at $20.47 on Tuesday. The company’s 50 day simple moving average is $19.39 and its 200-day simple moving average is $19.23. The company has a market capitalization of $18.75 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 2.31 and a beta of 1.18. Regions Financial has a 1 year low of $13.72 and a 1 year high of $21.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. Regions Financial’s revenue was down 10.5% on a year-over-year basis. During the same period last year, the firm posted $0.62 earnings per share. As a group, equities research analysts expect that Regions Financial will post 1.96 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.69%. The ex-dividend date was Monday, June 3rd. Regions Financial’s payout ratio is 52.17%.

Insider Activity

In related news, Director William C. Rhodes III bought 50,000 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was acquired at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the acquisition, the director now owns 50,000 shares in the company, valued at approximately $968,500. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Regions Financial news, Director William C. Rhodes III purchased 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was purchased at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the purchase, the director now directly owns 50,000 shares in the company, valued at $968,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William D. Ritter sold 23,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the sale, the executive vice president now owns 41,671 shares of the company’s stock, valued at approximately $831,336.45. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Regions Financial

Large investors have recently bought and sold shares of the business. EntryPoint Capital LLC acquired a new stake in Regions Financial during the 1st quarter worth $26,000. Laurel Wealth Advisors LLC raised its position in Regions Financial by 86.5% during the 4th quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock worth $27,000 after buying an additional 649 shares during the last quarter. MV Capital Management Inc. raised its position in Regions Financial by 75.6% during the 1st quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after buying an additional 618 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in Regions Financial during the 4th quarter worth $28,000. Finally, Sound Income Strategies LLC raised its position in Regions Financial by 103.2% during the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock worth $29,000 after buying an additional 750 shares during 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.