Morgan Stanley Cuts Regions Financial (NYSE:RF) Price Target to $35.00

Regions Financial (NYSE:RF) had its price target lowered by Morgan Stanley from $36.00 to $35.00 in a research report released on Monday,Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

A number of other analysts have also recently commented on RF. DA Davidson upped their price objective on Regions Financial from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Wells Fargo & Company upped their target price on shares of Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, July 6th. JPMorgan Chase & Co. increased their price target on shares of Regions Financial from $31.50 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Regions Financial in a research note on Friday, July 17th. Finally, Truist Financial cut their price objective on shares of Regions Financial from $34.00 to $31.00 and set a “hold” rating for the company in a research report on Wednesday, September 23rd. Six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.06.

Regions Financial Trading Up 0.0%

NYSE:RF opened at $26.89 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. Regions Financial has a 12 month low of $22.70 and a 12 month high of $32.47. The company has a market cap of $22.91 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 1.12 and a beta of 0.99. The company has a 50 day simple moving average of $30.11 and a two-hundred day simple moving average of $28.85.

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

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.30 per share. This is an increase from Regions Financial’s previous quarterly dividend of $0.2650. This represents a $1.20 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, September 1st. Regions Financial’s payout ratio is presently 48.98%.

Institutional Trading of Regions Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the company. QRG Capital Management Inc. boosted its holdings in Regions Financial by 13.1% in the 2nd 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 during the period. Envestnet Portfolio Solutions Inc. lifted its holdings 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 purchasing an additional 80,181 shares in the last quarter. Envestnet Asset Management Inc. boosted 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 purchasing an additional 1,730,874 shares during the period. State Street Corp boosted its stake in Regions Financial by 6.2% in the 2nd quarter. State Street Corp now owns 50,667,092 shares of the bank’s stock worth $1,543,092,000 after purchasing an additional 2,953,594 shares during the period. Finally, Integrated Wealth Concepts LLC grew its holdings in Regions Financial by 72.4% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 68,965 shares of the bank’s stock valued at $2,083,000 after buying an additional 28,968 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other 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 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.