Regions Financial (NYSE:RF) Given New $25.00 Price Target at Bank of America

Regions Financial (NYSE:RF) had its price objective upped by Bank of America from $22.00 to $25.00 in a research report released on Monday, Benzinga reports. Bank of America currently has a neutral rating on the bank’s stock.

Other analysts also recently issued reports about the stock. Evercore ISI lowered their price objective on shares of Regions Financial from $22.00 to $21.00 and set an in-line rating on the stock in a report on Tuesday, June 25th. Royal Bank of Canada lifted their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the company an outperform rating in a report on Monday. Keefe, Bruyette & Woods lowered their price objective on shares of Regions Financial from $22.00 to $21.00 and set a market perform rating on the stock in a report on Tuesday, July 9th. Morgan Stanley lowered their target price 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. Finally, Truist Financial boosted their target price on shares of Regions Financial from $21.00 to $23.00 and gave the stock a hold rating in a report on Monday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $21.32.

Regions Financial Stock Performance

Shares of RF opened at $22.55 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. Regions Financial has a twelve month low of $13.72 and a twelve month high of $22.85. The firm’s 50 day moving average price is $19.78 and its two-hundred day moving average price is $19.40. The firm has a market cap of $20.65 billion, a P/E ratio of 12.26, a PEG ratio of 2.40 and a beta of 1.18.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the company earned $0.59 earnings per share. The firm’s revenue was down 11.5% compared to the same quarter last year. On average, analysts forecast that Regions Financial will post 1.99 EPS for the current fiscal year.

Regions Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.43%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. Regions Financial’s dividend payout ratio (DPR) is currently 52.17%.

Insider Buying and Selling

In related news, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $831,336.45. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Regions Financial

Hedge funds have recently bought and sold shares of the business. Whittier Trust Co. grew its stake in Regions Financial by 16.5% during the fourth quarter. Whittier Trust Co. now owns 3,881 shares of the bank’s stock worth $75,000 after buying an additional 549 shares in the last quarter. HB Wealth Management LLC grew its stake in Regions Financial by 0.6% during the first quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock worth $2,035,000 after buying an additional 551 shares in the last quarter. CWM LLC grew its stake in Regions Financial by 1.4% during the first quarter. CWM LLC now owns 41,137 shares of the bank’s stock worth $866,000 after buying an additional 556 shares in the last quarter. Perigon Wealth Management LLC grew its stake in Regions Financial by 2.8% during the first quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank’s stock worth $433,000 after buying an additional 565 shares in the last quarter. Finally, Signet Financial Management LLC grew its stake in Regions Financial by 4.9% during the first quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock worth $262,000 after buying an additional 584 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

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.