Regions Financial (NYSE:RF) PT Lowered to $25.00 at Morgan Stanley

Regions Financial (NYSE:RF) had its target price decreased by Morgan Stanley from $27.00 to $25.00 in a research note published on Monday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the bank’s stock.

A number of other research firms have also commented on RF. Citigroup raised shares of Regions Financial from a neutral rating to a buy rating and lifted their price target for the company from $20.00 to $23.00 in a research report on Monday, March 18th. StockNews.com lowered shares of Regions Financial from a hold rating to a sell rating in a research report on Tuesday, February 6th. Royal Bank of Canada lifted their price target on shares of Regions Financial from $19.00 to $21.00 and gave the company an outperform rating in a research report on Monday, January 22nd. Truist Financial dropped their price target on shares of Regions Financial from $22.00 to $20.00 and set a hold rating on the stock in a research report on Monday. Finally, Barclays reissued an underweight rating and issued a $22.00 price target (up previously from $20.00) on shares of Regions Financial in a research report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $20.17.

Regions Financial Price Performance

Shares of RF opened at $19.75 on Monday. The firm has a market cap of $18.15 billion, a PE ratio of 10.73, a PEG ratio of 1.40 and a beta of 1.21. The firm’s 50 day moving average price is $19.39 and its 200 day moving average price is $18.06. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. Regions Financial has a twelve month low of $13.72 and a twelve month high of $21.08.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08). The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. Regions Financial’s revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 EPS. As a group, research analysts expect that Regions Financial will post 1.95 EPS for the current fiscal year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.96 dividend on an annualized basis and a yield of 4.86%. Regions Financial’s dividend payout ratio is currently 52.17%.

Insiders Place Their Bets

In other Regions Financial news, Director William C. Rhodes III purchased 50,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were purchased at an average price of $19.37 per share, for a total transaction of $968,500.00. Following the completion of the purchase, the director now directly owns 50,000 shares of the company’s stock, valued at $968,500. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Regions Financial

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Regions Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after purchasing an additional 3,119,237 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Regions Financial by 3.6% in the 4th quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock valued at $1,080,928,000 after purchasing an additional 1,951,026 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Regions Financial by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,169,876 shares of the bank’s stock valued at $346,922,000 after purchasing an additional 618,384 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Regions Financial by 15.1% in the 3rd quarter. Invesco Ltd. now owns 11,086,142 shares of the bank’s stock valued at $190,682,000 after purchasing an additional 1,455,499 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Regions Financial in the 4th quarter valued at $210,379,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

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.