Regions Financial (NYSE:RF) PT Lowered to $21.00 at Evercore ISI

Regions Financial (NYSE:RF) had its price objective lowered by Evercore ISI from $22.00 to $21.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has an in-line rating on the bank’s stock.

Several other research firms have also recently commented on RF. Piper Sandler boosted their target price on Regions Financial from $20.00 to $21.00 and gave the stock a neutral rating in a research report on Friday, April 26th. Citigroup upgraded Regions Financial from a neutral rating to a buy rating and increased their price objective for the company from $20.00 to $23.00 in a research report on Monday, March 18th. Morgan Stanley decreased their target price on shares of Regions Financial from $27.00 to $25.00 and set an overweight rating on the stock in a research report on Monday, April 22nd. Keefe, Bruyette & Woods boosted their target price on Regions Financial from $21.00 to $22.00 and gave the company a market perform rating in a research note on Friday, April 5th. Finally, Truist Financial dropped their target price on Regions Financial from $22.00 to $20.00 and set a hold rating for the company in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $20.28.

Regions Financial Price Performance

Regions Financial stock opened at $19.20 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. The stock has a market cap of $17.58 billion, a P/E ratio of 10.43, a P/E/G ratio of 2.08 and a beta of 1.19. The company’s 50 day moving average price is $19.27 and its two-hundred day moving average price is $19.14. Regions Financial has a 52 week low of $13.72 and a 52 week high of $21.08.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08). Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period last year, the company posted $0.62 earnings per share. Regions Financial’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, equities analysts predict that Regions Financial will post 1.96 earnings per share for the current year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date is Monday, June 3rd. Regions Financial’s dividend payout ratio (DPR) is 52.17%.

Insider Activity

In related news, Director William C. Rhodes III purchased 50,000 shares of Regions Financial stock in a transaction on Tuesday, April 23rd. The shares were bought at an average cost of $19.37 per share, for a total transaction of $968,500.00. Following the acquisition, the director now owns 50,000 shares in the company, valued at approximately $968,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total value of $458,850.00. Following the completion of the sale, the executive vice president now directly owns 41,671 shares in the company, valued at $831,336.45. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William C. Rhodes III bought 50,000 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was purchased at an average price of $19.37 per share, with a total value of $968,500.00. Following the acquisition, the director now directly owns 50,000 shares in the company, valued at approximately $968,500. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Regions Financial

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Regions Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after buying an additional 3,119,237 shares during the last quarter. Advisor Resource Council acquired a new stake in Regions Financial during the 4th quarter worth about $1,944,000. abrdn plc lifted its holdings in Regions Financial by 17.0% in the fourth quarter. abrdn plc now owns 2,350,151 shares of the bank’s stock valued at $45,546,000 after acquiring an additional 341,878 shares during the period. Mizuho Markets Americas LLC lifted its stake in shares of Regions Financial by 35.6% in the 4th quarter. Mizuho Markets Americas LLC now owns 153,136 shares of the bank’s stock valued at $2,968,000 after purchasing an additional 40,200 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its holdings in Regions Financial by 1,676.8% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 93,711 shares of the bank’s stock valued at $1,816,000 after buying an additional 88,437 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Company Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.