Regions Financial (NYSE:RF) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Regions Financial (NYSE:RF) from a sell rating to a hold rating in a research report report published on Thursday.

RF has been the topic of several other research reports. Wells Fargo & Company increased their price target on Regions Financial from $18.00 to $22.00 and gave the company an equal weight rating in a report on Monday, July 22nd. Truist Financial lifted their price target on shares of Regions Financial from $21.00 to $23.00 and gave the stock a hold rating in a research note on Monday, July 22nd. Bank of America increased their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the stock a neutral rating in a research report on Monday, July 22nd. Jefferies Financial Group increased their price target on Regions Financial from $22.00 to $24.00 and gave the stock a buy rating in a report on Wednesday, July 3rd. Finally, Morgan Stanley boosted their price objective on Regions Financial from $25.00 to $28.00 and gave the company an overweight rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $21.51.

Regions Financial Stock Performance

Shares of NYSE:RF opened at $21.97 on Thursday. The firm has a fifty day simple moving average of $21.82 and a two-hundred day simple moving average of $20.28. Regions Financial has a 52 week low of $13.72 and a 52 week high of $23.47. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $20.11 billion, a P/E ratio of 11.94, a PEG ratio of 2.82 and a beta of 1.17.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the business posted $0.59 earnings per share. The firm’s revenue was down 11.5% on a year-over-year basis. On average, analysts expect that Regions Financial will post 2 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a $0.25 dividend. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend is Tuesday, September 3rd. Regions Financial’s payout ratio is currently 54.35%.

Institutional Trading of Regions Financial

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Regions Financial by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after purchasing an additional 3,119,237 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Regions Financial by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock valued at $1,080,928,000 after buying an additional 1,951,026 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Regions Financial by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after acquiring an additional 979,597 shares during the period. Norges Bank acquired a new position in shares of Regions Financial in the 4th quarter valued at $210,379,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Regions Financial by 1.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank’s stock worth $162,163,000 after acquiring an additional 103,529 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

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.