Regions Financial (NYSE:RF) Stock Gets Price Target Cut from Citigroup

Regions Financial (NYSE:RF) had its price objective cut by Citigroup from $36.00 to $32.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the bank’s stock.

A number of other analysts have also commented on the stock. Brean Capital raised shares of Regions Financial from a “neutral” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Monday, October 19th. Capital One Financial set a $33.00 target price on shares of Regions Financial in a research report on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a research report on Thursday, October 15th. Robert W. Baird upgraded shares of Regions Financial from an “underperform” rating to a “neutral” rating and set a $28.00 price objective for the company in a research note on Friday, September 18th. Finally, TD Cowen initiated coverage on Regions Financial in a report on Thursday, October 8th. They issued a “hold” rating and a $30.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Regions Financial has a consensus rating of “Hold” and a consensus target price of $31.12.

Regions Financial Stock Performance

RF opened at $28.47 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.82 and a quick ratio of 0.81. The company has a market capitalization of $24.26 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 1.15 and a beta of 1.05. The business’s 50-day moving average price is $28.76 and its two-hundred day moving average price is $29.04. Regions Financial has a 1 year low of $23.59 and a 1 year high of $32.47.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, October 16th. The bank reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.06. Regions Financial had a return on equity of 13.43% and a net margin of 23.97%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the firm earned $0.63 EPS. Regions Financial’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities analysts expect that Regions Financial will post 2.70 EPS for the current fiscal year.

Regions Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $1.20 annualized dividend and a dividend yield of 4.2%. Regions Financial’s payout ratio is presently 47.06%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. WPG Advisers LLC grew its position in shares of Regions Financial by 83.5% in the second quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock valued at $25,000 after purchasing an additional 370 shares during the last quarter. Keating Financial Advisory Services Inc. bought a new position in shares of Regions Financial during the second quarter worth approximately $25,000. Trust Co. of Vermont bought a new position in shares of Regions Financial during the second quarter worth approximately $26,000. Gables Capital Management Inc. acquired a new stake in Regions Financial during the 2nd quarter worth approximately $30,000. Finally, Pin Oak Investment Advisors Inc. acquired a new stake in Regions Financial during the 2nd quarter worth approximately $36,000. 79.39% of the stock is owned by institutional investors.

Regions Financial Company Profile

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 consumers, businesses, institutions and governments.

Regions Bank offers checking and savings accounts, consumer and commercial loans, credit products, mortgages, treasury and cash-management services, investment and wealth-management solutions, and insurance-related services.