Analysts Set Regions Financial Corporation (NYSE:RF) Target Price at $29.91

Shares of Regions Financial Corporation (NYSE:RF) have received an average rating of “Hold” from the eighteen ratings firms that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $29.9063.

A number of brokerages have recently weighed in on RF. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Regions Financial in a research note on Monday, December 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $31.00 target price on shares of Regions Financial in a report on Tuesday, January 20th. The Goldman Sachs Group restated a “buy” rating and issued a $32.00 target price on shares of Regions Financial in a research report on Tuesday, January 6th. Wells Fargo & Company lowered Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price target for the company. in a research note on Friday, January 16th. Finally, Brean Capital assumed coverage on Regions Financial in a research report on Thursday, March 12th. They set a “neutral” rating on the stock.

Insider Activity

In related news, EVP William D. Ritter sold 36,000 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total value of $1,036,080.00. Following the sale, the executive vice president directly owned 17,569 shares in the company, valued at $505,635.82. The trade was a 67.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RF. Darwin Wealth Management LLC acquired a new position in shares of Regions Financial in the 2nd quarter worth $25,000. SouthState Bank Corp lifted its holdings in shares of Regions Financial by 94.1% during the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock valued at $30,000 after purchasing an additional 538 shares during the last quarter. United Community Bank acquired a new position in shares of Regions Financial in the 3rd quarter valued at $30,000. Spire Wealth Management boosted its position in shares of Regions Financial by 91.5% in the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock valued at $32,000 after purchasing an additional 557 shares during the period. Finally, Princeton Global Asset Management LLC increased its stake in Regions Financial by 260.4% in the 4th quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock worth $32,000 after purchasing an additional 854 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

Regions Financial Price Performance

Shares of NYSE RF opened at $26.46 on Friday. Regions Financial has a fifty-two week low of $17.74 and a fifty-two week high of $31.53. The firm’s 50-day simple moving average is $27.80 and its 200 day simple moving average is $26.73. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. The stock has a market cap of $22.85 billion, a P/E ratio of 11.56, a P/E/G ratio of 0.95 and a beta of 1.03.

Regions Financial (NYSE:RF) last announced its 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). The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.56 EPS. Equities analysts expect that Regions Financial will post 2.26 EPS for the current year.

Regions Financial announced that its Board of Directors has authorized a share buyback plan on Wednesday, December 10th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the bank to repurchase up to 12.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd were given a $0.265 dividend. The ex-dividend date was Monday, March 2nd. This represents a $1.06 annualized dividend and a yield of 4.0%. Regions Financial’s payout ratio is 46.29%.

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.