Analysts Set Regions Financial Corporation (NYSE:RF) PT at $32.24

Shares of Regions Financial Corporation (NYSE:RF) have received a consensus recommendation of “Hold” from the twenty research firms that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $32.2353.

Several brokerages have commented on RF. Wells Fargo & Company raised their target price on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, July 6th. Citigroup raised their price objective on shares of Regions Financial from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Robert W. Baird reiterated an “underperform” rating and set a $28.00 price target on shares of Regions Financial in a report on Monday, July 6th. Weiss Ratings restated a “buy (b)” rating on shares of Regions Financial in a research report on Friday, July 17th. Finally, Evercore reaffirmed an “underperform” rating and set a $31.00 target price on shares of Regions Financial in a research note on Monday, July 6th.

Regions Financial Stock Down 0.3%

Shares of Regions Financial stock opened at $31.84 on Friday. Regions Financial has a 12-month low of $22.70 and a 12-month high of $32.47. The firm has a market capitalization of $27.18 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 1.22 and a beta of 1.00. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26. The stock’s fifty day moving average is $29.94 and its 200-day moving average is $28.53.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.Regions Financial’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the company posted $0.60 EPS. Equities analysts anticipate that Regions Financial will post 2.63 earnings per share for the current year.

Regions Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from Regions Financial’s previous quarterly dividend of $0.27. Regions Financial’s payout ratio is currently 43.27%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RF. Capital Analysts LLC grew its holdings in Regions Financial by 129.4% during the second quarter. Capital Analysts LLC now owns 2,569 shares of the bank’s stock valued at $78,000 after purchasing an additional 1,449 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Regions Financial by 3.7% during the 2nd quarter. HighTower Advisors LLC now owns 227,928 shares of the bank’s stock worth $6,883,000 after buying an additional 8,073 shares during the period. Convergence Financial LLC boosted its holdings in shares of Regions Financial by 85.1% during the 2nd quarter. Convergence Financial LLC now owns 21,048 shares of the bank’s stock worth $636,000 after buying an additional 9,675 shares during the period. Gryphon Financial Partners LLC acquired a new position in Regions Financial in the 2nd quarter valued at $312,000. Finally, Janney Montgomery Scott LLC grew its stake in Regions Financial by 91.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 123,289 shares of the bank’s stock valued at $3,723,000 after buying an additional 58,893 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.