Regions Financial Co. (NYSE:RF) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Regions Financial Co. (NYSE:RF) have been assigned a consensus recommendation of “Hold” from the eighteen brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $20.34.

Several research firms have recently weighed in on RF. Jefferies Financial Group upgraded Regions Financial from a “hold” rating to a “buy” rating and boosted their price target for the stock from $15.00 to $22.00 in a report on Tuesday, January 9th. Stephens restated an “equal weight” rating and issued a $21.00 price target on shares of Regions Financial in a research report on Tuesday, January 23rd. Morgan Stanley cut their price target on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, April 22nd. Piper Sandler increased their price objective on Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Finally, Keefe, Bruyette & Woods lifted their target price on Regions Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a report on Friday, April 5th.

Insider Activity at Regions Financial

In related news, Director William C. Rhodes III purchased 50,000 shares of Regions Financial stock in a transaction 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 completion of the acquisition, the director now owns 50,000 shares of the company’s stock, valued at approximately $968,500. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Regions Financial

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Regions Financial in the 4th quarter worth $210,379,000. Wellington Management Group LLP grew its holdings in shares of Regions Financial by 8.4% during the third quarter. Wellington Management Group LLP now owns 53,824,390 shares of the bank’s stock valued at $925,780,000 after buying an additional 4,160,768 shares during the last quarter. Bahl & Gaynor Inc. increased its position in shares of Regions Financial by 162.1% during the third quarter. Bahl & Gaynor Inc. now owns 5,904,595 shares of the bank’s stock worth $101,559,000 after acquiring an additional 3,651,390 shares in the last quarter. Cincinnati Insurance Co. acquired a new stake in shares of Regions Financial in the 1st quarter worth about $74,606,000. Finally, Vanguard Group Inc. lifted its position in Regions Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after acquiring an additional 3,119,237 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Stock Up 0.8 %

RF stock opened at $19.80 on Friday. The stock has a market capitalization of $18.19 billion, a P/E ratio of 10.76, a price-to-earnings-growth ratio of 1.44 and a beta of 1.21. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $19.55 and a 200-day moving average price of $18.22. Regions Financial has a 12 month low of $13.72 and a 12 month high of $21.08.

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

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.24 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.96 annualized dividend and a dividend yield of 4.85%. Regions Financial’s dividend payout ratio is currently 52.17%.

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.