Truist Financial Cuts Regions Financial (NYSE:RF) Price Target to $24.00

Regions Financial (NYSE:RF) had its price objective reduced by Truist Financial from $26.00 to $24.00 in a research note released on Friday,Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

Several other analysts have also issued reports on the company. Citigroup lowered their target price on Regions Financial from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Barclays boosted their target price on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. The Goldman Sachs Group boosted their target price on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Compass Point boosted their price objective on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $32.00 price objective (up previously from $28.00) on shares of Regions Financial in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $27.44.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $21.68 on Friday. The business’s fifty day simple moving average is $23.46 and its 200 day simple moving average is $23.96. The firm has a market capitalization of $19.63 billion, a P/E ratio of 11.17, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. Regions Financial has a 12 month low of $17.72 and a 12 month high of $27.96. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.01. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The business’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 earnings per share. As a group, analysts anticipate that Regions Financial will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s dividend payout ratio (DPR) is currently 51.55%.

Insider Activity

In related news, Director Joia M. Johnson acquired 2,300 shares of the stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the transaction, the director now owns 17,486 shares in the company, valued at $370,353.48. This represents a 15.15 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders have purchased 3,993 shares of company stock worth $89,682. 0.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Regions Financial

A number of large investors have recently added to or reduced their stakes in RF. Norges Bank purchased a new position in Regions Financial in the 4th quarter worth $279,103,000. State Street Corp raised its position in Regions Financial by 16.3% in the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after purchasing an additional 7,791,399 shares during the period. Invesco Ltd. raised its position in Regions Financial by 14.5% in the 4th quarter. Invesco Ltd. now owns 15,468,674 shares of the bank’s stock worth $363,823,000 after purchasing an additional 1,963,954 shares during the period. Deutsche Bank AG raised its position in Regions Financial by 52.7% in the 4th quarter. Deutsche Bank AG now owns 5,522,612 shares of the bank’s stock worth $129,892,000 after purchasing an additional 1,907,121 shares during the period. Finally, National Bank of Canada FI raised its position in Regions Financial by 575.8% in the 3rd quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock worth $39,784,000 after purchasing an additional 1,452,956 shares during the period. 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.