Regions Financial Corporation (NYSE:RF) Receives $29.31 Average Target Price from Analysts

Regions Financial Corporation (NYSE:RF) has received an average recommendation of “Hold” from the seventeen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $29.8438.

Several equities research analysts have issued reports on the stock. TD Cowen reiterated a “buy” rating on shares of Regions Financial in a research report on Tuesday, October 21st. UBS Group reissued a “neutral” rating and set a $30.00 price target on shares of Regions Financial in a research report on Wednesday, February 4th. The Goldman Sachs Group reiterated a “buy” rating and issued a $32.00 price objective on shares of Regions Financial in a report on Tuesday, January 6th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $31.00 price objective on shares of Regions Financial in a research report on Tuesday, January 20th. Finally, Evercore lowered shares of Regions Financial from an “in-line” rating to an “underperform” rating and lifted their target price for the company from $27.00 to $29.00 in a research note on Tuesday, January 6th.

Insider Activity

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the completion of the transaction, the executive vice president owned 17,569 shares of the company’s stock, valued at $505,635.82. This represents a 67.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. GAM Holding AG purchased a new position in shares of Regions Financial in the 3rd quarter valued at about $1,760,000. Allspring Global Investments Holdings LLC lifted its stake in Regions Financial by 2.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank’s stock worth $241,289,000 after acquiring an additional 233,458 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in shares of Regions Financial by 34.7% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 61,387 shares of the bank’s stock worth $1,444,000 after purchasing an additional 15,820 shares during the last quarter. First Citizens Bank & Trust Co. lifted its holdings in Regions Financial by 6.8% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 690,344 shares of the bank’s stock worth $18,204,000 after buying an additional 44,252 shares during the last quarter. Finally, iA Global Asset Management Inc. purchased a new stake in Regions Financial during the third quarter worth approximately $1,378,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Price Performance

RF stock opened at $30.80 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. Regions Financial has a 1 year low of $17.74 and a 1 year high of $31.17. The company’s 50-day moving average is $27.95 and its 200-day moving average is $26.42. The stock has a market capitalization of $27.01 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 1.10 and a beta of 1.04.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.04). Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the firm earned $0.56 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. Equities research analysts expect that Regions Financial will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a $0.265 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 3.4%. Regions Financial’s dividend payout ratio is currently 46.29%.

Regions Financial announced that its board has approved a stock repurchase program on Wednesday, December 10th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the bank to repurchase up to 12.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Regions Financial Company Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.