Regions Financial (NYSE:RF) Price Target Cut to $26.00 by Analysts at Wells Fargo & Company

Regions Financial (NYSE:RF) had its price objective cut by Wells Fargo & Company from $28.00 to $26.00 in a report released on Friday morning,Benzinga reports. They currently have an equal weight rating on the bank’s stock.

Other equities analysts have also recently issued reports about the stock. Citigroup cut their target price on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Piper Sandler lifted their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Barclays increased their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, January 6th. Morgan Stanley restated an “equal weight” rating and issued a $32.00 price target (up previously from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Finally, Compass Point increased their price objective on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $27.17.

Regions Financial Stock Performance

NYSE RF opened at $21.42 on Friday. The company has a fifty day moving average of $23.25 and a two-hundred day moving average of $23.92. The company has a market capitalization of $19.39 billion, a PE ratio of 11.04, a P/E/G ratio of 1.93 and a beta of 1.19. Regions Financial has a 1 year low of $17.72 and a 1 year high of $27.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83.

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

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Monday, March 3rd. Regions Financial’s dividend payout ratio (DPR) is 51.55%.

Insiders Place Their Bets

In other news, Director Joia M. Johnson bought 2,300 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the transaction, the director now owns 17,486 shares in the company, valued at $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have purchased 3,993 shares of company stock worth $89,682. 0.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RF. State Street Corp increased its stake in shares of Regions Financial by 16.3% during the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after purchasing an additional 7,791,399 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Regions Financial by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock worth $686,398,000 after buying an additional 1,396,647 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Regions Financial by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank’s stock worth $540,284,000 after acquiring an additional 403,283 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Regions Financial by 7.7% in the fourth quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank’s stock valued at $401,097,000 after acquiring an additional 1,224,645 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Regions Financial by 14.5% during the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank’s stock valued at $363,823,000 after acquiring an additional 1,963,954 shares during 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.