Vining Sparks reiterated their buy rating on shares of Regions Financial (NYSE:RF) in a research report sent to investors on Tuesday morning. Vining Sparks currently has a $22.00 price objective on the bank’s stock.
Other equities analysts have also issued research reports about the company. Wedbush set a $22.00 price target on Regions Financial and gave the company a buy rating in a research report on Friday, September 7th. Robert W. Baird upgraded Regions Financial from an underperform rating to a neutral rating in a research report on Thursday, June 28th. Royal Bank of Canada upgraded Regions Financial from a sector perform rating to an outperform rating and set a $11.00 price target for the company in a research report on Monday, June 18th. Finally, ValuEngine lowered Regions Financial from a buy rating to a hold rating in a research report on Friday, June 15th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Regions Financial has an average rating of Hold and an average price target of $18.23.
Shares of RF stock opened at $17.29 on Tuesday. Regions Financial has a fifty-two week low of $14.62 and a fifty-two week high of $20.21. The stock has a market cap of $20.23 billion, a P/E ratio of 17.29, a PEG ratio of 1.04 and a beta of 1.29. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.66.
Regions Financial (NYSE:RF) last announced its earnings results on Friday, July 20th. The bank reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Regions Financial had a return on equity of 9.46% and a net margin of 22.77%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the business posted $0.25 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. As a group, sell-side analysts predict that Regions Financial will post 1.42 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, September 7th were paid a $0.14 dividend. This is an increase from Regions Financial’s previous quarterly dividend of $0.09. This represents a $0.56 annualized dividend and a yield of 3.24%. The ex-dividend date was Thursday, September 6th. Regions Financial’s dividend payout ratio is currently 56.00%.
In related news, EVP C. Keith Herron sold 23,186 shares of the stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $18.76, for a total value of $434,969.36. Following the completion of the sale, the executive vice president now directly owns 204,537 shares of the company’s stock, valued at approximately $3,837,114.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan W. Matlock sold 24,000 shares of the stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $18.50, for a total value of $444,000.00. Following the completion of the sale, the director now directly owns 14,914 shares of the company’s stock, valued at $275,909. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in RF. Millennium Management LLC lifted its stake in Regions Financial by 52.7% in the 2nd quarter. Millennium Management LLC now owns 19,743,411 shares of the bank’s stock worth $351,038,000 after acquiring an additional 6,813,530 shares in the last quarter. PointState Capital LP lifted its stake in Regions Financial by 3,053.2% in the 1st quarter. PointState Capital LP now owns 6,489,300 shares of the bank’s stock worth $120,571,000 after acquiring an additional 6,283,500 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Regions Financial by 135.1% in the 2nd quarter. Janus Henderson Group PLC now owns 7,807,580 shares of the bank’s stock worth $138,818,000 after acquiring an additional 4,486,512 shares in the last quarter. Nokota Management LP purchased a new stake in Regions Financial in the 2nd quarter worth about $24,003,000. Finally, Principal Financial Group Inc. lifted its stake in Regions Financial by 61.9% in the 1st quarter. Principal Financial Group Inc. now owns 3,097,100 shares of the bank’s stock worth $57,544,000 after acquiring an additional 1,183,688 shares in the last quarter. 74.80% of the stock is owned by hedge funds and other institutional investors.
About Regions Financial
Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.
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