Regions Financial (NYSE:RF) Given New $29.00 Price Target at DA Davidson

Regions Financial (NYSE:RF) had its price target hoisted by DA Davidson from $27.00 to $29.00 in a research note released on Monday, Benzinga reports. The brokerage currently has a buy rating on the bank’s stock. DA Davidson also issued estimates for Regions Financial’s Q4 2024 earnings at $0.56 EPS, FY2024 earnings at $2.10 EPS and FY2025 earnings at $2.29 EPS.

Several other analysts have also commented on RF. Royal Bank of Canada raised their price target on shares of Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Keefe, Bruyette & Woods dropped their target price on Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Citigroup increased their price target on Regions Financial from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Barclays increased their target price on Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a research report on Monday. Finally, Wells Fargo & Company boosted their price target on shares of Regions Financial from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Regions Financial presently has a consensus rating of “Hold” and an average price target of $24.35.

Regions Financial Stock Performance

Shares of RF stock opened at $23.75 on Monday. Regions Financial has a 52-week low of $13.72 and a 52-week high of $24.47. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. The stock has a market cap of $21.75 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 2.80 and a beta of 1.17. The business has a 50-day simple moving average of $22.87 and a 200-day simple moving average of $20.98.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The company’s revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 earnings per share. On average, equities analysts expect that Regions Financial will post 2.02 EPS for the current year.

Regions Financial Announces Dividend

The business 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio (DPR) is currently 54.35%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. American National Bank & Trust raised 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 valued at $27,000 after purchasing an additional 1,114 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of Regions Financial in the 1st quarter valued at $26,000. Quarry LP boosted its holdings in 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 acquiring an additional 816 shares during the period. MV Capital Management Inc. grew its position in Regions Financial by 75.6% in the 1st quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after acquiring an additional 618 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in Regions Financial by 530.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after purchasing an additional 1,256 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.