Regions Financial (NYSE:RF) Research Coverage Started at UBS Group

UBS Group assumed coverage on shares of Regions Financial (NYSE:RF) in a research report released on Wednesday, PriceTargets.com reports. The brokerage issued a buy rating and a $32.00 price target on the bank’s stock.

Several other research analysts also recently issued reports on the company. Truist lifted their price objective on Regions Financial from $23.00 to $28.00 and gave the stock a buy rating in a research report on Monday, October 25th. Morgan Stanley boosted their price target on Regions Financial from $26.00 to $30.00 and gave the company an overweight rating in a report on Monday, December 6th. Wedbush upgraded Regions Financial from a neutral rating to an outperform rating and boosted their price target for the company from $26.40 to $29.00 in a report on Monday, October 25th. Citigroup upgraded Regions Financial from a neutral rating to a buy rating and boosted their price target for the company from $25.00 to $30.00 in a report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on Regions Financial from $25.50 to $26.50 and gave the company an overweight rating in a report on Thursday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Regions Financial currently has an average rating of Hold and an average target price of $24.66.

Shares of NYSE:RF opened at $25.41 on Wednesday. The business’s 50 day simple moving average is $23.12 and its 200-day simple moving average is $21.57. The firm has a market capitalization of $24.22 billion, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 0.74 and a beta of 1.43. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial has a 12 month low of $16.89 and a 12 month high of $25.51.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Thursday, October 21st. The bank reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.12. Regions Financial had a return on equity of 16.44% and a net margin of 40.43%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the company earned $0.49 EPS. The company’s quarterly revenue was down 1.8% on a year-over-year basis. On average, equities analysts anticipate that Regions Financial will post 2.55 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, January 3rd. Stockholders of record on Friday, December 3rd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 2.68%. Regions Financial’s payout ratio is 25.56%.

In related news, EVP Amala Duggirala sold 25,000 shares of the stock in a transaction dated Wednesday, November 10th. The shares were sold at an average price of $24.50, for a total transaction of $612,500.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.21% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in RF. Evermay Wealth Management LLC bought a new position in shares of Regions Financial in the second quarter valued at approximately $27,000. Bell Investment Advisors Inc bought a new position in shares of Regions Financial in the third quarter valued at approximately $30,000. CX Institutional boosted its holdings in shares of Regions Financial by 39.2% in the third quarter. CX Institutional now owns 1,811 shares of the bank’s stock valued at $39,000 after acquiring an additional 510 shares in the last quarter. Ancora Advisors LLC boosted its holdings in shares of Regions Financial by 979.1% in the third quarter. Ancora Advisors LLC now owns 2,115 shares of the bank’s stock valued at $45,000 after acquiring an additional 1,919 shares in the last quarter. Finally, TCI Wealth Advisors Inc. boosted its holdings in shares of Regions Financial by 27.4% in the third quarter. TCI Wealth Advisors Inc. now owns 2,142 shares of the bank’s stock valued at $46,000 after acquiring an additional 461 shares in the last quarter. Institutional investors own 72.76% of the company’s stock.

Regions Financial Company Profile

Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other financing. The firm operates through the following segments: Corporate Bank, Consumer Bank, and Wealth Management.

Further Reading: Market Timing

Analyst Recommendations for Regions Financial (NYSE:RF)

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