Regions Financial (NYSE:RF) Hits New 12-Month High – Here’s What Happened

Regions Financial Co. (NYSE:RF) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $26.54 and last traded at $26.53, with a volume of 307050 shares traded. The stock had previously closed at $26.18.

Analyst Ratings Changes

Several research analysts have recently commented on RF shares. Keefe, Bruyette & Woods raised Regions Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $27.00 to $28.00 in a research report on Thursday, October 31st. Morgan Stanley upped their target price on Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Wedbush upped their target price on Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. DA Davidson upped their target price on Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Stephens raised Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective on the stock in a report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.45.

Regions Financial Trading Up 1.1 %

The firm has a market cap of $24.05 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 2.74 and a beta of 1.16. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. The business has a fifty day moving average of $23.33 and a two-hundred day moving average of $21.42.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the business posted $0.49 earnings per share. As a group, equities analysts expect that Regions Financial Co. will post 2.1 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Monday, December 2nd. Regions Financial’s dividend payout ratio (DPR) is currently 56.50%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RF. EntryPoint Capital LLC acquired a new stake in shares of Regions Financial during the first quarter valued at about $26,000. American National Bank & Trust grew its stake in shares of Regions Financial by 1,856.7% during the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock valued at $27,000 after acquiring an additional 1,114 shares in the last quarter. Quarry LP grew its stake in shares of Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after acquiring an additional 816 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of 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 valued at $30,000 after acquiring an additional 1,256 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Regions Financial during the second quarter valued at about $32,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

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.