Keefe, Bruyette & Woods Trims Regions Financial (NYSE:RF) Target Price to $21.00

Regions Financial (NYSE:RF) had its price target cut by Keefe, Bruyette & Woods from $22.00 to $21.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a market perform rating on the bank’s stock.

RF has been the subject of several other research reports. Citigroup upgraded shares of Regions Financial from a neutral rating to a buy rating and boosted their price target for the stock from $20.00 to $23.00 in a research note on Monday, March 18th. Piper Sandler upped their price target on Regions Financial from $20.00 to $21.00 and gave the stock a neutral rating in a report on Friday, April 26th. Evercore ISI decreased their price objective on Regions Financial from $22.00 to $21.00 and set an in-line rating for the company in a research note on Tuesday, June 25th. Jefferies Financial Group upped their target price on shares of Regions Financial from $22.00 to $24.00 and gave the stock a buy rating in a research note on Wednesday, July 3rd. Finally, Morgan Stanley decreased their price target on shares of Regions Financial from $27.00 to $25.00 and set an overweight rating for the company in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Regions Financial has an average rating of Hold and an average target price of $20.39.

Regions Financial Trading Up 2.6 %

Shares of NYSE RF opened at $20.71 on Tuesday. The stock has a fifty day simple moving average of $19.38 and a 200-day simple moving average of $19.22. Regions Financial has a twelve month low of $13.72 and a twelve month high of $21.08. 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 stock has a market capitalization of $18.97 billion, a PE ratio of 11.26, a PEG ratio of 2.16 and a beta of 1.18.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter last year, the company earned $0.62 earnings per share. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, equities analysts forecast that Regions Financial will post 1.96 earnings per share for the current year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 4.64%. Regions Financial’s dividend payout ratio is presently 52.17%.

Insider Buying and Selling at Regions Financial

In other news, EVP William D. Ritter sold 23,000 shares of the firm’s 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 transaction, the executive vice president now directly owns 41,671 shares in the company, valued at $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 acquired 50,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was bought at an average cost of $19.37 per share, with a total value of $968,500.00. Following the transaction, the director now owns 50,000 shares of the company’s stock, valued at $968,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William D. Ritter sold 23,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly 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 owned by company insiders.

Hedge Funds Weigh In On Regions Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of RF. Alps Advisors Inc. increased its stake in shares of Regions Financial by 19.9% during the third quarter. Alps Advisors Inc. now owns 18,776 shares of the bank’s stock worth $323,000 after acquiring an additional 3,113 shares during the period. Comerica Bank boosted its position in shares of Regions Financial by 313.5% during the 3rd quarter. Comerica Bank now owns 290,307 shares of the bank’s stock worth $4,993,000 after purchasing an additional 220,095 shares in the last quarter. Graham Capital Management L.P. acquired a new position in shares of Regions Financial during the 3rd quarter worth $621,000. Public Sector Pension Investment Board increased its holdings in shares of Regions Financial by 5.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 217,512 shares of the bank’s stock valued at $3,741,000 after purchasing an additional 11,754 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of Regions Financial by 4.7% in the third quarter. Deutsche Bank AG now owns 4,059,601 shares of the bank’s stock valued at $69,825,000 after purchasing an additional 180,446 shares during the period. 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.