Regions Financial (NYSE:RF) PT Lowered to $21.00 at Evercore ISI

Regions Financial (NYSE:RF) had its price objective cut by Evercore ISI from $22.00 to $21.00 in a report released on Tuesday morning, Benzinga reports. They currently have an in-line rating on the bank’s stock.

A number of other equities analysts also recently commented on the stock. Morgan Stanley cut their price objective on shares of Regions Financial from $27.00 to $25.00 and set an overweight rating for the company in a research report on Monday, April 22nd. Keefe, Bruyette & Woods raised their price objective on shares of Regions Financial from $21.00 to $22.00 and gave the company a market perform rating in a research report on Friday, April 5th. Truist Financial cut their target price on Regions Financial from $22.00 to $20.00 and set a hold rating for the company in a research note on Monday, April 22nd. Citigroup upgraded Regions Financial from a neutral rating to a buy rating and lifted their price target for the company from $20.00 to $23.00 in a research note on Monday, March 18th. Finally, Piper Sandler increased their price objective on Regions Financial from $20.00 to $21.00 and gave the stock a neutral rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $20.28.

Regions Financial Stock Performance

NYSE RF opened at $20.04 on Tuesday. The company has a fifty day moving average of $19.29 and a two-hundred day moving average of $19.15. The company has a market capitalization of $18.35 billion, a PE ratio of 10.89, a P/E/G ratio of 2.06 and a beta of 1.19. Regions Financial has a 1 year low of $13.72 and a 1 year high of $21.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08). The firm 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%. Regions Financial’s revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 earnings per share. As a group, analysts expect that Regions Financial will post 1.96 earnings per share for the current year.

Regions Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.79%. Regions Financial’s dividend payout ratio (DPR) is 52.17%.

Insider Activity at Regions Financial

In other news, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total value of $458,850.00. Following the transaction, the executive vice president now owns 41,671 shares of the company’s stock, valued at approximately $831,336.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director William C. Rhodes III purchased 50,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was purchased at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the acquisition, the director now directly owns 50,000 shares in the company, valued at $968,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William D. Ritter sold 23,000 shares of Regions Financial stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $19.95, for a total transaction of $458,850.00. Following the sale, the executive vice president now owns 41,671 shares in the company, valued at approximately $831,336.45. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Regions Financial

A number of hedge funds and other institutional investors have recently modified their holdings of RF. EntryPoint Capital LLC acquired a new position in Regions Financial during the 1st quarter worth $26,000. Laurel Wealth Advisors LLC grew its stake in Regions Financial by 86.5% in the fourth quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock worth $27,000 after purchasing an additional 649 shares in the last quarter. MV Capital Management Inc. increased its holdings in Regions Financial by 75.6% in the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after buying an additional 618 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in Regions Financial during the fourth quarter valued at approximately $28,000. Finally, Sound Income Strategies LLC lifted its holdings in Regions Financial by 103.2% during the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock worth $29,000 after buying an additional 750 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

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.