Regions Financial (NYSE:RF) Hits New 1-Year High on Analyst Upgrade

Regions Financial Co. (NYSE:RF) shares reached a new 52-week high during trading on Thursday after Citigroup raised their price target on the stock from $26.00 to $30.00. Citigroup currently has a buy rating on the stock. Regions Financial traded as high as $26.82 and last traded at $26.81, with a volume of 1906426 shares changing hands. The stock had previously closed at $26.26.

Other analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Truist Financial lifted their price objective on Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, October 21st. DA Davidson raised their target price on Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, October 21st. The Goldman Sachs Group increased their price objective on Regions Financial from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Keefe, Bruyette & Woods raised shares of Regions Financial from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $27.00 to $28.00 in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $26.41.

Institutional Investors Weigh In On Regions Financial

A number of large investors have recently added to or reduced their stakes in RF. EntryPoint Capital LLC purchased a new position in Regions Financial in the first quarter worth about $26,000. American National Bank & Trust grew its position in Regions Financial by 1,856.7% during the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock valued at $27,000 after buying an additional 1,114 shares during the period. Quarry LP increased its holdings in Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after buying an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Regions Financial by 530.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after acquiring an additional 1,256 shares during the period. Finally, Innealta Capital LLC purchased a new position in shares of Regions Financial during the 2nd quarter worth $32,000. Institutional investors own 79.39% of the company’s stock.

Regions Financial Stock Performance

The business’s 50-day moving average price is $23.95 and its 200-day moving average price is $21.77. The stock has a market cap of $24.80 billion, a P/E ratio of 15.11, a P/E/G ratio of 2.72 and a beta of 1.16. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the business earned $0.49 EPS. As a group, sell-side analysts expect that Regions Financial Co. will post 2.12 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.67%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio is currently 56.50%.

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.