Regions Financial (NYSE:RF) Upgraded at Robert W. Baird

Robert W. Baird upgraded shares of Regions Financial (NYSE:RF) from an underperform rating to a neutral rating in a research note released on Friday, MarketBeat reports. They currently have $28.00 price target on the bank’s stock.

RF has been the subject of a number of other reports. Citigroup raised their price objective on shares of Regions Financial from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Truist Financial increased their target price on shares of Regions Financial from $30.00 to $34.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. DA Davidson raised their price target on shares of Regions Financial from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Jefferies Financial Group restated a “hold” rating and set a $32.00 price target on shares of Regions Financial in a research report on Friday, July 17th. Finally, Cantor Fitzgerald upped their price target on shares of Regions Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $32.29.

Regions Financial Stock Performance

Shares of RF opened at $28.50 on Friday. The stock’s 50-day simple moving average is $30.72 and its 200 day simple moving average is $28.83. The stock has a market capitalization of $24.28 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 1.17 and a beta of 0.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. Regions Financial has a 52-week low of $22.70 and a 52-week high of $32.47.

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

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.2%. This is a positive change from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, September 1st. Regions Financial’s dividend payout ratio (DPR) is currently 48.98%.

Institutional Investors Weigh In On Regions Financial

Several hedge funds have recently bought and sold shares of RF. Norges Bank purchased a new stake in shares of Regions Financial during the 4th quarter valued at $254,564,000. Victory Capital Management Inc. grew its position in Regions Financial by 68.9% in the fourth quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock worth $618,860,000 after acquiring an additional 9,312,449 shares in the last quarter. Nykredit A S purchased a new position in Regions Financial in the second quarter worth $236,756,000. Bank of America Corp DE bought a new position in Regions Financial in the second quarter valued at $219,068,000. Finally, First Trust Advisors LP increased its stake in Regions Financial by 75.7% in the first quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock valued at $348,936,000 after acquiring an additional 5,754,487 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors.

About Regions Financial

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 consumer, commercial and institutional customers.

Regions Bank offers checking and savings accounts, consumer loans, credit cards, mortgages, home equity products and other personal banking services. Its commercial and corporate offerings include business loans, treasury management, equipment financing, capital markets services and other solutions for companies, municipalities and institutions.