Regions Financial (NYSE:RF) Given New $24.00 Price Target at Wells Fargo & Company

Regions Financial (NYSE:RF) had its target price upped by Wells Fargo & Company from $22.00 to $24.00 in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has an equal weight rating on the bank’s stock.

A number of other equities analysts also recently commented on RF. Keefe, Bruyette & Woods reduced their price objective on Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. StockNews.com cut Regions Financial from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Bank of America boosted their target price on Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Jefferies Financial Group upped their target price on Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Finally, Royal Bank of Canada increased their price target on Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Regions Financial has a consensus rating of “Hold” and a consensus target price of $23.64.

Regions Financial Stock Down 0.8 %

NYSE RF opened at $23.62 on Monday. The stock’s 50-day moving average price is $22.70 and its 200-day moving average price is $20.91. The company has a market capitalization of $21.63 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 2.80 and a beta of 1.17. Regions Financial has a 52 week low of $13.72 and a 52 week high of $24.47. 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 issued its quarterly earnings results on Friday, October 18th. The bank reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the company earned $0.49 EPS. Regions Financial’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, equities research analysts predict that Regions Financial will post 2.02 earnings per share for the current year.

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.23%. Regions Financial’s payout ratio is 54.35%.

Institutional Investors Weigh In On Regions Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RF. B. Riley Wealth Advisors Inc. increased its stake in Regions Financial by 8.6% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 17,642 shares of the bank’s stock valued at $346,000 after buying an additional 1,401 shares during the last quarter. Quadrature Capital Ltd increased its stake in Regions Financial by 8.2% in the 4th quarter. Quadrature Capital Ltd now owns 15,806 shares of the bank’s stock valued at $306,000 after buying an additional 1,196 shares during the last quarter. Mather Group LLC. acquired a new stake in Regions Financial in the 1st quarter valued at $48,000. Park Avenue Securities LLC increased its stake in Regions Financial by 22.7% in the 1st quarter. Park Avenue Securities LLC now owns 57,032 shares of the bank’s stock valued at $1,200,000 after buying an additional 10,561 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new stake in Regions Financial in the 1st quarter valued at $267,000. 79.39% of the stock is currently 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.