Analysts Set Regions Financial Corporation (NYSE:RF) Target Price at $32.29

Shares of Regions Financial Corporation (NYSE:RF) have received a consensus recommendation of “Hold” from the twenty ratings firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $32.2941.

RF has been the subject of several research reports. Cantor Fitzgerald boosted their price objective on shares of Regions Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. DA Davidson lifted their target price on shares of Regions Financial from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Evercore reiterated an “underperform” rating and set a $31.00 target price on shares of Regions Financial in a research note on Monday, July 6th. Keefe, Bruyette & Woods increased their price target on Regions Financial from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Monday, July 20th. Finally, Wells Fargo & Company raised their price target on Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, July 6th.

Regions Financial Stock Down 2.3%

Regions Financial stock opened at $27.90 on Friday. Regions Financial has a 12 month low of $22.70 and a 12 month high of $32.47. The stock has a fifty day simple moving average of $30.61 and a two-hundred day simple moving average of $28.83. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. The firm has a market cap of $23.77 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.17 and a beta of 0.99.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, July 17th. The bank reported $0.68 EPS for the quarter, beating the consensus estimate of $0.63 by $0.05. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the firm posted $0.60 earnings per share. Regions Financial’s revenue was up .1% compared to the same quarter last year. Equities analysts predict that Regions Financial will post 2.63 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a $0.30 dividend. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. This represents a $1.20 annualized dividend and a dividend yield of 4.3%. Regions Financial’s dividend payout ratio (DPR) is currently 48.98%.

Institutional Trading of Regions Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp increased its holdings in Regions Financial by 6.2% in the 2nd quarter. State Street Corp now owns 50,667,092 shares of the bank’s stock worth $1,543,092,000 after acquiring an additional 2,953,594 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Regions Financial by 72.4% in the second quarter. Integrated Wealth Concepts LLC now owns 68,965 shares of the bank’s stock worth $2,083,000 after purchasing an additional 28,968 shares in the last quarter. Nykredit A S bought a new stake in shares of Regions Financial during the 2nd quarter valued at $236,756,000. Corient Private Wealth LP lifted its stake in shares of Regions Financial by 4.8% during the 2nd quarter. Corient Private Wealth LP now owns 138,099 shares of the bank’s stock valued at $4,170,000 after buying an additional 6,281 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in shares of Regions Financial by 3.7% in the second quarter. HighTower Advisors LLC now owns 227,928 shares of the bank’s stock worth $6,883,000 after acquiring an additional 8,073 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumer, commercial and institutional customers.

Regions Bank offers checking and savings accounts, consumer loans, credit cards, mortgages, home equity products and other personal banking services. Its commercial and corporate offerings include business loans, treasury management, equipment financing, capital markets services and other solutions for companies, municipalities and institutions.