Regions Financial (NYSE:RF) Price Target Raised to $30.00

Regions Financial (NYSE:RF) had its target price hoisted by Citigroup from $26.00 to $30.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the bank’s stock.

RF has been the subject of a number of other research reports. Keefe, Bruyette & Woods raised shares of Regions Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $27.00 to $28.00 in a research report on Thursday, October 31st. StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Argus upgraded Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Thursday, October 24th. Evercore ISI raised their target price on Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley boosted their price target on shares of Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Regions Financial presently has an average rating of “Moderate Buy” and an average price target of $26.41.

Regions Financial Price Performance

NYSE:RF opened at $27.28 on Thursday. Regions Financial has a 52 week low of $15.79 and a 52 week high of $27.32. The stock’s fifty day moving average is $24.05 and its two-hundred day moving average is $21.82. The company has a market capitalization of $24.79 billion, a P/E ratio of 15.41, a P/E/G ratio of 2.77 and a beta of 1.16. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 earnings per share. Equities analysts expect that Regions Financial will post 2.12 EPS for the current year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 3.67%. Regions Financial’s dividend payout ratio (DPR) is currently 56.50%.

Hedge Funds Weigh In On Regions Financial

Several large investors have recently bought and sold shares of the business. EntryPoint Capital LLC acquired a new position in shares of Regions Financial during the 1st quarter worth about $26,000. American National Bank & Trust raised its position in shares of Regions Financial by 1,856.7% during the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after acquiring an additional 1,114 shares in the last quarter. Quarry LP lifted its stake in Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after purchasing an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Regions Financial by 530.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,256 shares in the last quarter. Finally, Innealta Capital LLC purchased a new position in Regions Financial in the second quarter valued at approximately $32,000. Hedge funds and other institutional investors 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.