Regions Financial (NYSE:RF) Hits New 1-Year High – Here’s What Happened

Shares of Regions Financial Corporation (NYSE:RF) reached a new 52-week high during trading on Wednesday . The stock traded as high as $31.53 and last traded at $31.5050, with a volume of 3557015 shares changing hands. The stock had previously closed at $30.92.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Cantor Fitzgerald raised their price objective on shares of Regions Financial from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday. DA Davidson cut shares of Regions Financial from a “buy” rating to a “neutral” rating and reduced their target price for the company from $35.00 to $33.00 in a report on Monday, July 6th. JPMorgan Chase & Co. increased their target price on shares of Regions Financial from $29.00 to $31.50 and gave the stock a “neutral” rating in a research note on Monday, July 6th. UBS Group raised their price target on Regions Financial from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. Finally, Robert W. Baird restated an “underperform” rating and issued a $28.00 price target on shares of Regions Financial in a research report on Monday, July 6th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $31.28.

Regions Financial Trading Up 1.6%

The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $26.82 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. The business’s 50-day moving average is $28.72 and its two-hundred day moving average is $28.16.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, April 17th. The bank reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. Regions Financial’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 EPS. As a group, equities research analysts anticipate that Regions Financial Corporation will post 2.6 earnings per share for the current year.

Insider Transactions at Regions Financial

In related news, EVP Brian R. Willman sold 7,014 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Regions Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in RF. Empowered Funds LLC grew its holdings in Regions Financial by 7.2% during the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock worth $416,000 after acquiring an additional 1,278 shares during the period. Woodline Partners LP boosted its position in shares of Regions Financial by 40.7% during the 1st quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock worth $1,669,000 after purchasing an additional 22,216 shares in the last quarter. Baird Financial Group Inc. boosted its position in shares of Regions Financial by 0.7% during the 2nd quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock worth $1,687,000 after purchasing an additional 511 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Regions Financial by 81.2% during the 2nd quarter. Federated Hermes Inc. now owns 11,677 shares of the bank’s stock worth $275,000 after purchasing an additional 5,233 shares during the period. Finally, Daiwa Securities Group Inc. grew its stake in shares of Regions Financial by 5.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank’s stock worth $3,320,000 after purchasing an additional 6,690 shares during the period. 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.