Regions Financial (NYSE:RF) Price Target Raised to $33.00

Regions Financial (NYSE:RF) had its target price boosted by The Goldman Sachs Group from $29.00 to $33.00 in a report released on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the bank’s stock.

RF has been the subject of several other research reports. Stephens upgraded shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price target for the company in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised Regions Financial from a “hold” rating to a “buy” rating and increased their target price for the company from $24.00 to $26.00 in a report on Thursday, October 24th. Evercore ISI upped their price objective on Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. DA Davidson increased their price objective on Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Argus raised Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.71.

Regions Financial Trading Down 0.2 %

Shares of NYSE RF opened at $27.25 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $24.77 billion, a PE ratio of 15.40, a PEG ratio of 2.85 and a beta of 1.16. Regions Financial has a twelve month low of $15.82 and a twelve month high of $27.96. The stock has a fifty day simple moving average of $24.42 and a 200-day simple moving average of $22.03.

Regions Financial (NYSE:RF) last announced 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 business had revenue of $1.79 billion for 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%. Regions Financial’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 earnings per share. On average, equities analysts forecast that Regions Financial will post 2.12 earnings per share for the current year.

Regions Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 3.67%. Regions Financial’s dividend payout ratio is presently 56.50%.

Institutional Investors Weigh In On Regions Financial

Several hedge funds have recently modified their holdings of the company. EntryPoint Capital LLC acquired a new position in Regions Financial in the first quarter valued at $26,000. American National Bank & Trust increased its position in Regions Financial by 1,856.7% during the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after purchasing an additional 1,114 shares in the last quarter. Quarry LP raised its holdings in Regions Financial by 157.2% in the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after buying an additional 816 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position 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 valued at $30,000 after buying an additional 1,256 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in Regions Financial during the second quarter worth approximately $32,000. 79.39% of the stock is owned by institutional investors and hedge funds.

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.