Regions Financial (NYSE:RF) Reaches New 52-Week High at $23.25

Regions Financial Co. (NYSE:RF) reached a new 52-week high on Thursday . The stock traded as high as $23.25 and last traded at $23.09, with a volume of 1269560 shares trading hands. The stock had previously closed at $22.98.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods cut 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 report on Tuesday, July 9th. Morgan Stanley upped their target price on shares of Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Truist Financial boosted their price objective on shares of Regions Financial from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. Jefferies Financial Group upped their price target on Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Finally, Citigroup raised their price target on shares of Regions Financial from $23.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Regions Financial has a consensus rating of “Hold” and an average price target of $21.51.

Regions Financial Stock Up 1.5 %

The business has a 50 day moving average price of $21.06 and a 200 day moving average price of $19.92. 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 stock has a market cap of $21.37 billion, a PE ratio of 12.49, a P/E/G ratio of 2.77 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 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the business earned $0.59 earnings per share. The firm’s revenue was down 11.5% on a year-over-year basis. Equities research analysts expect that Regions Financial Co. will post 2 EPS for the current fiscal year.

Regions Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a $0.25 dividend. The ex-dividend date is Tuesday, September 3rd. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 4.29%. Regions Financial’s dividend payout ratio (DPR) is currently 54.35%.

Institutional Trading of Regions Financial

Institutional investors have recently added to or reduced their stakes in the stock. Truist Financial Corp raised its holdings in shares of Regions Financial by 2.1% in the 2nd quarter. Truist Financial Corp now owns 190,853 shares of the bank’s stock valued at $3,825,000 after purchasing an additional 4,001 shares in the last quarter. Chase Investment Counsel Corp purchased a new position in shares of Regions Financial during the second quarter worth about $256,000. Quarry LP increased its position in shares of Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after purchasing an additional 816 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Regions Financial by 6.7% in the 2nd quarter. NewEdge Advisors LLC now owns 57,792 shares of the bank’s stock valued at $1,158,000 after purchasing an additional 3,638 shares during the last quarter. Finally, Silver Lake Advisory LLC boosted its position in shares of Regions Financial by 1.6% in the 2nd quarter. Silver Lake Advisory LLC now owns 219,202 shares of the bank’s stock valued at $4,393,000 after purchasing an additional 3,366 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

About Regions Financial

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.