Regions Financial (NYSE:RF) PT Raised to $24.00 at Wells Fargo & Company

Regions Financial (NYSE:RF) had its target price raised by Wells Fargo & Company from $22.00 to $24.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an equal weight rating on the bank’s stock.

Several other equities analysts also recently weighed in on RF. Citigroup raised their price target on Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Keefe, Bruyette & Woods decreased their target price on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company 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. StockNews.com cut Regions Financial from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group increased their target price on shares of Regions Financial from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $24.35.

Regions Financial Trading Up 0.5 %

Shares of NYSE RF opened at $23.75 on Monday. Regions Financial has a 1 year low of $13.72 and a 1 year high of $24.47. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a 50-day moving average of $22.87 and a 200 day moving average of $20.98. The stock has a market cap of $21.75 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 2.80 and a beta of 1.17.

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

Regions Financial Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. EntryPoint Capital LLC purchased a new position in shares of Regions Financial in the 1st quarter worth $26,000. American National Bank & Trust grew its position in Regions Financial by 1,856.7% in the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after acquiring an additional 1,114 shares in the last quarter. Quarry LP grew its position in Regions Financial by 157.2% in the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after acquiring an additional 816 shares in the last quarter. MV Capital Management Inc. increased its stake in Regions Financial by 75.6% during the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after acquiring an additional 618 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Regions Financial by 530.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,256 shares during 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.