Regions Financial (NYSE:RF) Sets New 12-Month High at $21.11

Regions Financial Co. (NYSE:RF)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $21.11 and last traded at $21.11, with a volume of 2543801 shares changing hands. The stock had previously closed at $20.47.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research report on Saturday. Morgan Stanley reduced their price objective 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 reduced their price objective on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Citigroup raised shares of Regions Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $20.00 to $23.00 in a research report on Monday, March 18th. Finally, Piper Sandler boosted their target price on shares of Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.39.

Regions Financial Trading Up 2.6 %

The company has a market cap of $19.23 billion, a P/E ratio of 11.38, a PEG ratio of 2.34 and a beta of 1.18. The stock’s 50 day moving average is $19.39 and its 200-day moving average is $19.23. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22.

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

Regions Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend was Monday, June 3rd. Regions Financial’s dividend payout ratio is currently 52.17%.

Insider Activity

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

Institutional Investors Weigh In On Regions Financial

Several institutional investors and hedge funds have recently modified their holdings of RF. EntryPoint Capital LLC purchased a new position in shares of Regions Financial in the first quarter valued at $26,000. Laurel Wealth Advisors LLC boosted its stake in shares of Regions Financial by 86.5% during the fourth quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock valued at $27,000 after purchasing an additional 649 shares during the period. ICA Group Wealth Management LLC purchased a new stake in shares of Regions Financial during the fourth quarter valued at $28,000. Sound Income Strategies LLC boosted its stake in shares of Regions Financial by 103.2% during the fourth quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock valued at $29,000 after purchasing an additional 750 shares during the period. Finally, Glassman Wealth Services boosted its stake in shares of Regions Financial by 163.3% during the fourth quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock valued at $30,000 after purchasing an additional 967 shares during the period. Institutional investors own 79.39% of the company’s stock.

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.