Regions Financial (NYSE:RF) Price Target Raised to $28.00 at Wells Fargo & Company

Regions Financial (NYSE:RF) had its price objective boosted by Wells Fargo & Company from $24.00 to $28.00 in a report issued on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the bank’s stock.

Other equities analysts have also issued reports about the stock. Evercore ISI raised their target price on shares of Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Stephens raised shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 target price on the stock in a report on Tuesday, October 29th. DA Davidson raised their target price on shares of Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a report on Monday, October 21st. Barclays raised their price target on shares of Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a research note on Monday, October 21st. Finally, Truist Financial raised their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Regions Financial has an average rating of “Moderate Buy” and a consensus target price of $26.18.

Regions Financial Price Performance

NYSE:RF opened at $26.36 on Friday. Regions Financial has a 52 week low of $15.79 and a 52 week high of $26.73. The firm has a market cap of $23.96 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 2.76 and a beta of 1.16. The firm’s 50-day simple moving average is $23.61 and its 200 day simple moving average is $21.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84.

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

Regions Financial Dividend Announcement

The firm 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 dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 3.79%. Regions Financial’s dividend payout ratio is presently 56.50%.

Institutional Investors Weigh In On Regions Financial

Several hedge funds have recently added to or reduced their stakes in RF. State Street Corp boosted its position in 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 buying an additional 7,791,399 shares during the period. National Bank of Canada FI raised its holdings in Regions Financial by 575.8% during the 3rd quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock worth $39,784,000 after purchasing an additional 1,452,956 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Regions Financial by 13.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock worth $201,238,000 after purchasing an additional 1,014,706 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Regions Financial by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock worth $285,562,000 after purchasing an additional 979,597 shares during the last quarter. Finally, Swedbank AB bought a new position in Regions Financial during the 1st quarter worth approximately $19,322,000. 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.