Wells Fargo & Company Boosts Regions Financial (NYSE:RF) Price Target to $22.00

Regions Financial (NYSE:RF) had its price objective increased by Wells Fargo & Company from $18.00 to $22.00 in a research report released on Monday, Benzinga reports. They currently have an equal weight rating on the bank’s stock.

RF has been the topic of several other reports. Morgan Stanley decreased their price target on Regions Financial from $27.00 to $25.00 and set an overweight rating on the stock in a research report on Monday, April 22nd. Evercore ISI decreased their price objective on shares of Regions Financial from $22.00 to $21.00 and set an in-line rating on the stock in a research report on Tuesday, June 25th. Truist Financial upped their price objective on shares of Regions Financial from $20.00 to $21.00 and gave the stock a hold rating in a research report on Monday, July 8th. Jefferies Financial Group upped their price objective on shares of Regions Financial from $22.00 to $24.00 and gave the stock a buy rating in a research report on Wednesday, July 3rd. Finally, StockNews.com upgraded shares of Regions Financial from a sell rating to a hold rating in a research report on Saturday, July 13th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $21.32.

Regions Financial Trading Down 1.3 %

Shares of Regions Financial stock opened at $22.11 on Monday. The stock’s 50-day simple moving average is $19.73 and its 200 day simple moving average is $19.38. Regions Financial has a 52-week low of $13.72 and a 52-week high of $22.84. The stock has a market capitalization of $20.25 billion, a P/E ratio of 12.02, a P/E/G ratio of 2.53 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.03. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the business posted $0.59 earnings per share. The company’s revenue was down 11.5% on a year-over-year basis. As a group, research analysts anticipate that Regions Financial will post 1.98 EPS for the current year.

Regions Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date is Tuesday, September 3rd. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. Regions Financial’s dividend payout ratio is 52.17%.

Insider Activity

In other news, EVP William D. Ritter sold 23,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the completion of the sale, the executive vice president now owns 41,671 shares of the company’s stock, valued at $831,336.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.33% of the company’s stock.

Institutional Trading of Regions Financial

A number of institutional investors have recently made changes to their positions in RF. EntryPoint Capital LLC purchased a new stake in Regions Financial in the first quarter worth $26,000. Laurel Wealth Advisors LLC lifted its stake in Regions Financial by 86.5% in the fourth quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock worth $27,000 after acquiring an additional 649 shares during the period. ICA Group Wealth Management LLC purchased a new stake in Regions Financial in the fourth quarter worth $28,000. Glassman Wealth Services lifted its stake in Regions Financial by 163.3% in the fourth quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock worth $30,000 after acquiring an additional 967 shares during the period. Finally, MV Capital Management Inc. lifted its stake in Regions Financial by 75.6% in 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 period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

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.