Wedbush Increases Regions Financial (NYSE:RF) Price Target to $30.00

Regions Financial (NYSE:RF) had its price objective hoisted by Wedbush from $28.00 to $30.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have an outperform rating on the bank’s stock.

Several other analysts also recently commented on the company. Royal Bank of Canada upped their price objective on Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. The Goldman Sachs Group upped their price objective on Regions Financial from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, October 7th. DA Davidson upped their price objective on Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Monday. Evercore ISI upped their price objective on Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. Finally, Citigroup upped their price objective on Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.35.

Regions Financial Stock Up 0.5 %

Regions Financial stock opened at $23.75 on Monday. Regions Financial has a fifty-two week low of $13.72 and a fifty-two week high of $24.47. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $21.75 billion, a P/E ratio of 12.91, a PEG ratio of 2.80 and a beta of 1.17. The stock has a 50-day simple moving average of $22.87 and a 200-day simple moving average of $20.98.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the firm posted $0.49 earnings per share. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. Equities research analysts expect that Regions Financial will post 2.02 earnings per share for the current year.

Regions Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.21%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio (DPR) is 54.35%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Welch Group LLC grew its stake in Regions Financial by 7.2% in the 3rd quarter. Welch Group LLC now owns 139,565 shares of the bank’s stock valued at $3,256,000 after acquiring an additional 9,384 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Regions Financial by 1.8% in the third quarter. DekaBank Deutsche Girozentrale now owns 277,006 shares of the bank’s stock valued at $6,367,000 after purchasing an additional 4,963 shares during the last quarter. GHP Investment Advisors Inc. increased its stake in shares of Regions Financial by 2.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 161,490 shares of the bank’s stock worth $3,768,000 after purchasing an additional 3,240 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Regions Financial by 5.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 151,663 shares of the bank’s stock worth $3,538,000 after purchasing an additional 7,811 shares during the last quarter. Finally, PFG Investments LLC acquired a new position in shares of Regions Financial during the 3rd quarter worth approximately $354,000. Hedge funds and other institutional investors 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.