Regions Financial (NYSE:RF) Stock Rated “Hold” in New Coverage at TD Cowen

TD Cowen assumed coverage on shares of Regions Financial (NYSE:RF) in a research note released on Thursday, Marketbeat reports. The firm issued a hold rating and a $30.00 price target on the bank’s stock.

Several other research firms also recently commented on RF. Stephens assumed coverage on shares of Regions Financial in a report on Monday, June 15th. They issued an “equal weight” rating and a $31.00 price objective for the company. Jefferies Financial Group reissued a “hold” rating and set a $32.00 target price on shares of Regions Financial in a report on Friday, July 17th. Weiss Ratings restated a “buy (b)” rating on shares of Regions Financial in a research report on Friday, July 17th. UBS Group cut their price target on Regions Financial from $33.00 to $30.00 and set a “neutral” rating for the company in a report on Monday, October 5th. Finally, Keefe, Bruyette & Woods lifted their price target on Regions Financial from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Monday, July 20th. Five research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $31.69.

Regions Financial Trading Down 0.1%

Shares of Regions Financial stock opened at $27.04 on Thursday. The stock has a market capitalization of $23.03 billion, a P/E ratio of 11.03, a P/E/G ratio of 1.11 and a beta of 1.05. Regions Financial has a 52-week low of $22.70 and a 52-week high of $32.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s 50-day simple moving average is $29.56 and its 200 day simple moving average is $28.92.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the business earned $0.60 earnings per share. As a group, research analysts anticipate that Regions Financial will post 2.63 EPS for the current year.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st were paid a $0.30 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $1.20 annualized dividend and a yield of 4.4%. This is a boost from Regions Financial’s previous quarterly dividend of $0.2650. Regions Financial’s dividend payout ratio is currently 48.98%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Eastern Bank increased its holdings in shares of Regions Financial by 30.7% in the third quarter. Eastern Bank now owns 3,839 shares of the bank’s stock worth $103,000 after purchasing an additional 901 shares during the period. Rockland Trust Co. grew its position in Regions Financial by 3.8% during the third quarter. Rockland Trust Co. now owns 50,142 shares of the bank’s stock worth $1,348,000 after buying an additional 1,829 shares in the last quarter. QRG Capital Management Inc. grew its position in Regions Financial by 13.1% during the second quarter. QRG Capital Management Inc. now owns 144,105 shares of the bank’s stock worth $4,352,000 after buying an additional 16,681 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Regions Financial by 12.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 733,501 shares of the bank’s stock worth $22,152,000 after acquiring an additional 80,181 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Regions Financial by 433.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,129,927 shares of the bank’s stock worth $64,324,000 after acquiring an additional 1,730,874 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Regions Financial Company Profile

Regions Financial Corporation (NYSE: RF) is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumers, businesses, and institutions.

Regions offers a range of products and services, including checking and savings accounts, consumer and commercial loans, mortgages, credit cards, treasury and cash-management services, investment and wealth-management solutions, and capital-markets services.