Truist Financial Boosts Regions Financial (NYSE:RF) Price Target to $23.00

Regions Financial (NYSE:RF) had its price objective upped by Truist Financial from $21.00 to $23.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a hold rating on the bank’s stock.

RF has been the subject of a number of other research reports. Jefferies Financial Group upped their price target on Regions Financial from $22.00 to $24.00 and gave the stock a buy rating in a research report on Wednesday, July 3rd. Royal Bank of Canada increased their price objective on Regions Financial from $21.00 to $23.00 and gave the company an outperform rating in a report on Monday. Wells Fargo & Company increased their price objective on Regions Financial from $18.00 to $22.00 and gave the company an equal weight rating in a report on Monday. Keefe, Bruyette & Woods cut their price objective on Regions Financial from $22.00 to $21.00 and set a market perform rating for the company in a report on Tuesday, July 9th. Finally, Morgan Stanley cut their price objective on Regions Financial from $27.00 to $25.00 and set an overweight rating for the company in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $21.32.

Regions Financial Trading Down 1.3 %

NYSE:RF opened at $22.11 on Monday. Regions Financial has a twelve month low of $13.72 and a twelve month high of $22.84. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average price of $19.73 and a two-hundred day moving average price of $19.38. The company has a market cap of $20.25 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 2.53 and a beta of 1.18.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the firm posted $0.59 EPS. The business’s revenue was down 11.5% on a year-over-year basis. As a group, analysts expect that Regions Financial will post 1.98 EPS for the current fiscal year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.25 per share. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 4.52%. Regions Financial’s dividend payout ratio (DPR) is presently 52.17%.

Insiders Place Their Bets

In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the transaction, 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 Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. EdgeRock Capital LLC bought a new position in shares of Regions Financial in the second quarter worth $33,000. Family Firm Inc. bought a new position in shares of Regions Financial in the second quarter worth $56,000. TrueWealth Advisors LLC increased its position in shares of Regions Financial by 16.8% in the second quarter. TrueWealth Advisors LLC now owns 22,116 shares of the bank’s stock worth $443,000 after purchasing an additional 3,187 shares during the period. My Legacy Advisors LLC bought a new position in shares of Regions Financial in the second quarter worth $560,000. Finally, &PARTNERS increased its position in shares of Regions Financial by 35.3% in the second quarter. &PARTNERS now owns 24,064 shares of the bank’s stock worth $482,000 after purchasing an additional 6,281 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.