Regions Financial (NYSE:RF) Price Target Lowered to $24.00 at Truist Financial

Regions Financial (NYSE:RF) had its price objective trimmed by Truist Financial from $26.00 to $24.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has a hold rating on the bank’s stock.

Several other equities analysts have also commented on RF. Morgan Stanley reissued an “equal weight” rating and issued a $32.00 target price (up previously from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Piper Sandler increased their target price on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Barclays increased their target price on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, January 6th. Citigroup dropped their target price on Regions Financial from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Finally, The Goldman Sachs Group increased their target price on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $27.44.

Regions Financial Stock Down 0.0 %

Regions Financial stock opened at $21.68 on Friday. Regions Financial has a twelve month low of $17.72 and a twelve month high of $27.96. The stock’s fifty day simple moving average is $23.46 and its 200-day simple moving average is $23.94. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $19.63 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.93 and a beta of 1.19.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the company earned $0.39 earnings per share. The company’s revenue was up .2% on a year-over-year basis. As a group, equities analysts expect that Regions Financial will post 2.26 earnings per share for the current fiscal year.

Regions Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.00 annualized dividend and a dividend yield of 4.61%. Regions Financial’s dividend payout ratio (DPR) is 51.55%.

Insider Transactions at Regions Financial

In other news, Director Joia M. Johnson acquired 2,300 shares of Regions Financial stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the transaction, the director now directly owns 17,486 shares in the company, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders acquired 3,993 shares of company stock worth $89,682. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Regions Financial

A number of hedge funds have recently added to or reduced their stakes in the company. Quarry LP lifted its position in Regions Financial by 29.5% in the third quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after purchasing an additional 394 shares during the period. Ballentine Partners LLC lifted its position in Regions Financial by 2.5% in the fourth quarter. Ballentine Partners LLC now owns 17,458 shares of the bank’s stock valued at $411,000 after purchasing an additional 420 shares during the period. Prossimo Advisors LLC lifted its position in shares of Regions Financial by 2.3% during the 4th quarter. Prossimo Advisors LLC now owns 19,270 shares of the bank’s stock valued at $453,000 after acquiring an additional 430 shares during the period. Greenleaf Trust lifted its position in shares of Regions Financial by 1.8% during the 4th quarter. Greenleaf Trust now owns 24,382 shares of the bank’s stock valued at $573,000 after acquiring an additional 436 shares during the period. Finally, Lake Street Advisors Group LLC lifted its position in shares of Regions Financial by 2.3% during the 4th quarter. Lake Street Advisors Group LLC now owns 19,173 shares of the bank’s stock valued at $456,000 after acquiring an additional 436 shares during the period. Institutional investors and hedge funds 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.