Regions Financial (NYSE:RF) Hits New 52-Week High – Should You Buy?

Regions Financial Corporation (NYSE:RF) reached a new 52-week high on Tuesday . The stock traded as high as $29.70 and last traded at $29.5730, with a volume of 844081 shares changing hands. The stock had previously closed at $29.12.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on RF shares. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $31.00 price target on shares of Regions Financial in a research report on Tuesday, January 20th. Wells Fargo & Company cut shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price target for the company. in a research report on Friday, January 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Regions Financial in a research report on Monday, December 29th. Truist Financial lifted their target price on Regions Financial from $26.00 to $29.00 and gave the company a “hold” rating in a report on Monday, December 22nd. Finally, Morgan Stanley set a $31.00 target price on Regions Financial in a research note on Monday, January 19th. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $29.27.

Regions Financial Trading Up 1.3%

The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. The firm has a market cap of $25.86 billion, a PE ratio of 12.91, a P/E/G ratio of 1.01 and a beta of 1.04. The business has a fifty day moving average price of $27.45 and a 200 day moving average price of $26.27.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company earned $0.56 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts forecast that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 10th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the bank to purchase up to 12.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of Regions Financial stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the transaction, the executive vice president owned 17,569 shares of the company’s stock, valued at $505,635.82. The trade was a 67.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Regions Financial

A number of institutional investors have recently modified their holdings of RF. CVA Family Office LLC increased its stake in Regions Financial by 163.2% in the second quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock valued at $25,000 after purchasing an additional 656 shares during the period. Darwin Wealth Management LLC acquired a new position in Regions Financial during the second quarter worth $25,000. FNY Investment Advisers LLC purchased a new position in shares of Regions Financial in the 2nd quarter valued at about $30,000. United Community Bank purchased a new position in Regions Financial in the third quarter valued at about $30,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Regions Financial in the 2nd quarter valued at approximately $32,000. 79.39% of the stock is owned by institutional investors and hedge funds.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.