Regions Financial (NYSE:RF) Upgraded to Outperform at Wedbush

Wedbush upgraded shares of Regions Financial (NYSE:RF) from a neutral rating to an outperform rating in a report released on Tuesday, MarketBeat Ratings reports. They currently have $28.00 price target on the bank’s stock, up from their prior price target of $23.00. Wedbush also issued estimates for Regions Financial’s FY2024 earnings at $1.90 EPS, Q1 2025 earnings at $0.52 EPS, Q4 2025 earnings at $0.59 EPS, Q1 2026 earnings at $0.59 EPS, Q2 2026 earnings at $0.62 EPS and FY2026 earnings at $2.50 EPS.

RF has been the subject of a number of other reports. Wells Fargo & Company boosted their target price on Regions Financial from $18.00 to $22.00 and gave the company an equal weight rating in a research report on Monday, July 22nd. Bank of America boosted their price objective on Regions Financial from $22.00 to $25.00 and gave the stock a neutral rating in a report on Monday, July 22nd. Royal Bank of Canada boosted their price objective on Regions Financial from $21.00 to $23.00 and gave the stock an outperform rating in a report on Monday, July 22nd. Citigroup boosted their price objective on Regions Financial from $25.00 to $26.00 and gave the stock a buy rating in a report on Thursday, September 19th. Finally, Truist Financial boosted their price objective on Regions Financial from $23.00 to $25.00 and gave the stock a hold rating in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $22.06.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $23.02 on Tuesday. Regions Financial has a one year low of $13.72 and a one year high of $23.47. The firm has a market capitalization of $21.08 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 2.95 and a beta of 1.17. The business has a 50-day simple moving average of $22.16 and a 200 day simple moving average of $20.51. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, July 19th. The bank reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the company posted $0.59 EPS. The firm’s revenue was down 11.5% compared to the same quarter last year. On average, research analysts anticipate that Regions Financial will post 2.01 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a $0.25 dividend. This is an increase from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 4.34%. Regions Financial’s dividend payout ratio is presently 54.35%.

Hedge Funds Weigh In On Regions Financial

Several institutional investors have recently bought and sold shares of RF. Cincinnati Insurance Co. purchased a new stake in shares of Regions Financial during the first quarter worth $74,606,000. Vanguard Group Inc. lifted its position in shares of Regions Financial by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after acquiring an additional 3,119,237 shares in the last quarter. Wellington Management Group LLP lifted its position 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 worth $1,080,928,000 after acquiring an additional 1,951,026 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in shares of Regions Financial during the first quarter worth $33,829,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Regions Financial by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock worth $285,562,000 after acquiring an additional 979,597 shares in the last quarter. Hedge funds and other institutional investors 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.