StockNews.com Upgrades Regions Financial (NYSE:RF) to Hold

StockNews.com upgraded shares of Regions Financial (NYSE:RF) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.

A number of other research analysts also recently weighed in on RF. Citigroup upgraded Regions Financial from a neutral rating to a buy rating and raised their price target for the company from $20.00 to $23.00 in a research note on Monday, March 18th. Piper Sandler lifted their target price on Regions Financial from $20.00 to $21.00 and gave the stock a neutral rating in a research note on Friday, April 26th. 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 research note on Friday, April 5th. Truist Financial reduced 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. Finally, Evercore ISI dropped their price target on Regions Financial from $22.00 to $21.00 and set an in-line rating for the company in a report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $20.28.

Regions Financial Trading Up 4.4 %

NYSE RF opened at $20.04 on Thursday. The firm has a market cap of $18.35 billion, a P/E ratio of 10.89, a P/E/G ratio of 2.19 and a beta of 1.19. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.82. The stock’s 50-day moving average is $19.29 and its 200-day moving average is $19.18. Regions Financial has a one year low of $13.72 and a one year high of $21.08.

Regions Financial (NYSE:RF) last released 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). The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 EPS. Sell-side analysts anticipate that Regions Financial will post 1.96 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Regions Financial

Several hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in Regions Financial during the fourth quarter valued at $210,379,000. Wellington Management Group LLP boosted its stake in 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 period. Cincinnati Insurance Co. bought a new stake in Regions Financial during the first quarter valued at $74,606,000. Vanguard Group Inc. boosted its stake in Regions Financial by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after buying an additional 3,119,237 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in Regions Financial during the first quarter worth about $33,829,000. 79.39% of the stock is currently 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.