Truist Financial Cuts Regions Financial (NYSE:RF) Price Target to $20.00

Regions Financial (NYSE:RF) had its price objective trimmed by Truist Financial from $22.00 to $20.00 in a report issued on Monday, Benzinga reports. The firm currently has a hold rating on the bank’s stock.

A number of other research firms also recently issued reports on RF. Argus downgraded shares of Regions Financial from a buy rating to a hold rating in a report on Tuesday, January 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of Regions Financial from $21.00 to $22.00 and gave the company a market perform rating in a report on Friday, April 5th. Citigroup raised shares of Regions Financial from a neutral rating to a buy rating and boosted their price objective for the company from $20.00 to $23.00 in a report on Monday, March 18th. Royal Bank of Canada boosted their price objective on shares of Regions Financial from $19.00 to $21.00 and gave the company an outperform rating in a report on Monday, January 22nd. Finally, Stephens reaffirmed an equal weight rating and set a $21.00 price target on shares of Regions Financial in a report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Regions Financial currently has an average rating of Hold and a consensus target price of $20.17.

Regions Financial Stock Down 0.8 %

Shares of RF opened at $19.61 on Monday. Regions Financial has a 52 week low of $13.72 and a 52 week high of $21.08. The firm has a market cap of $18.02 billion, a P/E ratio of 10.66, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The firm’s 50-day simple moving average is $19.41 and its 200 day simple moving average is $18.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the company posted $0.62 EPS. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. On average, analysts forecast that Regions Financial will post 1.95 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date is Friday, May 31st. Regions Financial’s dividend payout ratio is 52.17%.

Insider Buying and Selling

In related news, Director William C. Rhodes III acquired 50,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was acquired at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the transaction, the director now directly owns 50,000 shares in the company, valued at $968,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Regions Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisor Resource Council acquired a new position in Regions Financial in the 4th quarter valued at approximately $1,944,000. Vestmark Advisory Solutions Inc. increased its position in shares of Regions Financial by 126.3% during the third quarter. Vestmark Advisory Solutions Inc. now owns 26,436 shares of the bank’s stock worth $455,000 after buying an additional 14,756 shares during the period. abrdn plc increased its position in shares of Regions Financial by 17.0% during the fourth quarter. abrdn plc now owns 2,350,151 shares of the bank’s stock worth $45,546,000 after buying an additional 341,878 shares during the period. LPL Financial LLC increased its position in shares of Regions Financial by 19.6% during the third quarter. LPL Financial LLC now owns 582,491 shares of the bank’s stock worth $10,019,000 after buying an additional 95,271 shares during the period. Finally, Vaughan David Investments LLC IL increased its position in shares of Regions Financial by 48.9% during the fourth quarter. Vaughan David Investments LLC IL now owns 2,470,891 shares of the bank’s stock worth $47,886,000 after buying an additional 811,174 shares during the period. 79.39% of the stock is currently owned by institutional investors and hedge funds.

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.