Regions Financial (NYSE:RF) Reaches New 1-Year High – Here’s Why

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on RF shares. Argus upgraded shares of 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. Deutsche Bank Aktiengesellschaft upgraded Regions Financial from a “hold” rating to a “buy” rating and upped their price target for the company from $24.00 to $26.00 in a research report on Thursday, October 24th. Bank of America raised their price objective on Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. The Goldman Sachs Group upped their target price on Regions Financial from $25.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Keefe, Bruyette & Woods upgraded shares of Regions Financial from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $27.00 to $28.00 in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $25.94.

Regions Financial Stock Up 0.6 %

The firm has a 50 day moving average of $23.46 and a 200 day moving average of $21.50. The firm has a market cap of $23.87 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 2.74 and a beta of 1.16. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.35.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) 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 the consensus estimate of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The firm’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.49 EPS. As a group, sell-side analysts predict that Regions Financial Co. will post 2.1 earnings per share for the current year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 3.81%. Regions Financial’s payout ratio is currently 56.50%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Erste Asset Management GmbH bought a new position in Regions Financial in the third quarter worth approximately $8,274,000. Edgestream Partners L.P. bought a new position in shares of Regions Financial in the third quarter valued at approximately $3,565,000. Point72 Europe London LLP bought a new position in shares of Regions Financial in the third quarter valued at approximately $5,770,000. Captrust Financial Advisors lifted its holdings in shares of Regions Financial by 16.0% in the third quarter. Captrust Financial Advisors now owns 108,572 shares of the bank’s stock valued at $2,533,000 after purchasing an additional 14,958 shares in the last quarter. Finally, Vinva Investment Management Ltd bought a new position in shares of Regions Financial in the third quarter valued at approximately $208,000. 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.