Regions Financial (NYSE:RF) Price Target Raised to $26.00

Regions Financial (NYSE:RF) had its target price hoisted by Evercore ISI from $24.50 to $26.00 in a research report released on Wednesday, Benzinga reports. They currently have an in-line rating on the bank’s stock.

Other analysts also recently issued reports about the stock. Citigroup boosted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company a buy rating in a research note on Thursday, September 19th. Royal Bank of Canada increased their price objective on Regions Financial from $21.00 to $23.00 and gave the stock an outperform rating in a research note on Monday, July 22nd. Bank of America lifted their target price on Regions Financial from $22.00 to $25.00 and gave the company a neutral rating in a research note on Monday, July 22nd. Wells Fargo & Company increased their price target on shares of Regions Financial from $18.00 to $22.00 and gave the stock an equal weight rating in a research report on Monday, July 22nd. Finally, StockNews.com raised shares of Regions Financial from a sell rating to a hold rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $22.36.

Regions Financial Stock Up 1.8 %

NYSE:RF opened at $22.84 on Wednesday. The firm has a market capitalization of $20.92 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 2.95 and a beta of 1.17. Regions Financial has a 52 week low of $13.72 and a 52 week high of $23.47. 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 stock has a 50 day moving average of $22.21 and a 200-day moving average of $20.66.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.52 earnings per share 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 analysts’ expectations of $1.76 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The business’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. Analysts predict that Regions Financial will post 2.01 EPS for the current year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.38%. Regions Financial’s payout ratio is 54.35%.

Institutional Trading of Regions Financial

A number of hedge funds have recently modified their holdings of RF. IFG Advisory LLC raised its stake in Regions Financial by 1.8% during the 2nd quarter. IFG Advisory LLC now owns 30,928 shares of the bank’s stock worth $620,000 after buying an additional 546 shares during the period. HB Wealth Management LLC lifted its holdings in shares of Regions Financial by 0.6% during the 1st quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock valued at $2,035,000 after purchasing an additional 551 shares in the last quarter. CWM LLC grew its position in shares of Regions Financial by 1.4% in the 1st quarter. CWM LLC now owns 41,137 shares of the bank’s stock valued at $866,000 after purchasing an additional 556 shares during the period. Perigon Wealth Management LLC increased its stake in Regions Financial by 2.8% during the 1st quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank’s stock worth $433,000 after purchasing an additional 565 shares in the last quarter. Finally, Signet Financial Management LLC raised its holdings in Regions Financial by 4.9% during the 1st quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock worth $262,000 after buying an additional 584 shares during the period. 79.39% of the stock is currently owned by institutional investors and hedge funds.

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.