Citigroup Forecasts Strong Price Appreciation for Regions Financial (NYSE:RF) Stock

Regions Financial (NYSE:RF) had its target price boosted by Citigroup from $26.00 to $30.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has a buy rating on the bank’s stock.

Other analysts have also issued reports about the stock. Evercore ISI upped their price objective on shares of Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. Wedbush lifted their price objective on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Stephens raised Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 target price for the company in a research report on Tuesday, October 29th. Barclays upped their price target on Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a research report on Monday, October 21st. Finally, Morgan Stanley increased their price objective on Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.41.

Regions Financial Stock Up 2.0 %

RF opened at $27.28 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market capitalization of $24.79 billion, a PE ratio of 15.41, a P/E/G ratio of 2.77 and a beta of 1.16. The stock’s fifty day moving average is $24.05 and its 200-day moving average is $21.84. Regions Financial has a one year low of $15.79 and a one year high of $27.32.

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

Regions Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given 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 56.50%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RF. Quarry LP raised its stake in shares of Regions Financial by 29.5% in the 3rd quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after acquiring an additional 394 shares in the last quarter. Private Advisor Group LLC raised its position in shares of Regions Financial by 1.8% in the third quarter. Private Advisor Group LLC now owns 24,928 shares of the bank’s stock valued at $581,000 after purchasing an additional 429 shares during the period. CWM LLC raised its position in shares of Regions Financial by 1.1% in the third quarter. CWM LLC now owns 42,346 shares of the bank’s stock valued at $988,000 after purchasing an additional 480 shares during the period. Resonant Capital Advisors LLC lifted its stake in shares of Regions Financial by 2.4% in the third quarter. Resonant Capital Advisors LLC now owns 21,845 shares of the bank’s stock worth $515,000 after buying an additional 506 shares during the last quarter. Finally, Centaurus Financial Inc. boosted its holdings in shares of Regions Financial by 5.9% during the 3rd quarter. Centaurus Financial Inc. now owns 9,768 shares of the bank’s stock worth $228,000 after buying an additional 540 shares during the period. Institutional investors own 79.39% of the company’s stock.

Regions Financial Company Profile

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.