Citigroup Raises Regions Financial (NYSE:RF) Price Target to $26.00

Regions Financial (NYSE:RF) had its target price upped by Citigroup from $25.00 to $26.00 in a research report released on Thursday, Benzinga reports. The firm currently has a buy rating on the bank’s stock.

RF has been the topic of a number of other reports. Keefe, Bruyette & Woods dropped their target price on shares of Regions Financial from $22.00 to $21.00 and set a market perform rating on the stock in a report on Tuesday, July 9th. Wells Fargo & Company increased their target price on shares of Regions Financial from $18.00 to $22.00 and gave the stock an equal weight rating in a report on Monday, July 22nd. Truist Financial increased their target price on shares of Regions Financial from $21.00 to $23.00 and gave the stock a hold rating in a report on Monday, July 22nd. Evercore ISI dropped their target price on shares of Regions Financial from $22.00 to $21.00 and set an in-line rating on the stock in a report on Tuesday, June 25th. Finally, Royal Bank of Canada increased their target price on shares of Regions Financial from $21.00 to $23.00 and gave the stock an outperform rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $21.69.

Regions Financial Trading Down 1.1 %

NYSE RF opened at $23.11 on Thursday. Regions Financial has a 12 month low of $13.72 and a 12 month high of $23.47. 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 company has a market capitalization of $21.16 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 2.82 and a beta of 1.17. The company’s fifty day moving average price is $22.08 and its two-hundred day moving average price is $20.42.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, July 19th. The bank reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the firm posted $0.59 EPS. The firm’s revenue was down 11.5% compared to the same quarter last year. As a group, research analysts predict that Regions Financial will post 2 earnings per share for the current fiscal year.

Regions Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.25 per share. This is a boost from Regions Financial’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 4.33%. Regions Financial’s dividend payout ratio (DPR) is presently 54.35%.

Hedge Funds Weigh In On Regions Financial

Large investors have recently made changes to their positions in the business. EntryPoint Capital LLC bought a new position in shares of Regions Financial during the 1st quarter valued at about $26,000. Quarry LP boosted its position in shares of Regions Financial by 157.2% during the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after purchasing an additional 816 shares in the last quarter. MV Capital Management Inc. boosted its position in shares of Regions Financial by 75.6% during the 1st quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after purchasing an additional 618 shares in the last quarter. ICA Group Wealth Management LLC bought a new position in shares of Regions Financial during the 4th quarter valued at about $28,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Regions Financial by 530.0% during 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 in the last quarter. 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.