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

Regions Financial (NYSE:RF) had its target price increased by Evercore ISI from $24.50 to $26.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an in-line rating on the bank’s stock.

A number of other brokerages also recently weighed in on RF. Royal Bank of Canada boosted their target price on Regions Financial from $21.00 to $23.00 and gave the stock an outperform rating in a research note on Monday, July 22nd. Bank of America upped their price objective on Regions Financial from $22.00 to $25.00 and gave the company a neutral rating in a research note on Monday, July 22nd. Keefe, Bruyette & Woods decreased their target price on Regions Financial from $22.00 to $21.00 and set a market perform rating for the company in a research report on Tuesday, July 9th. StockNews.com raised Regions Financial from a sell rating to a hold rating in a research report on Thursday, September 12th. Finally, Wedbush raised Regions Financial from a neutral rating to an outperform rating and lifted their price objective for the stock from $23.00 to $28.00 in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Regions Financial presently has an average rating of Hold and a consensus price target of $22.36.

Regions Financial Stock Up 1.8 %

Regions Financial stock opened at $22.84 on Wednesday. The company has a market capitalization of $20.92 billion, a PE ratio of 12.41, a PEG ratio of 2.95 and a beta of 1.17. Regions Financial has a 12-month low of $13.72 and a 12-month high of $23.47. The firm’s fifty day moving average is $22.21 and its 200 day moving average is $20.65. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33.

Regions Financial (NYSE:RF) last announced its quarterly earnings results 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 business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the business posted $0.59 EPS. Regions Financial’s quarterly revenue was down 11.5% on a year-over-year basis. As a group, sell-side analysts predict that Regions Financial will post 2.01 EPS for the current fiscal year.

Regions Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.25 per share. This is a positive change from Regions Financial’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date was Tuesday, September 3rd. Regions Financial’s payout ratio is 54.35%.

Institutional Investors Weigh In On Regions Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cincinnati Insurance Co. bought a new stake in Regions Financial during the first quarter valued at approximately $74,606,000. Vanguard Group Inc. lifted its holdings in shares of Regions Financial by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after acquiring an additional 3,119,237 shares during the last quarter. Wellington Management Group LLP grew its position in Regions Financial by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock worth $1,080,928,000 after acquiring an additional 1,951,026 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in Regions Financial in the first quarter valued at $33,829,000. Finally, Dimensional Fund Advisors LP raised its position in Regions Financial by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after purchasing an additional 979,597 shares in the last quarter. 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.