Regions Financial (NYSE:RF) Raised to “Hold” at Truist Financial

Truist Financial upgraded shares of Regions Financial (NYSE:RF) to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Wedbush lifted their price objective on Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Compass Point increased their target price on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Evercore ISI lifted their price target on Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Finally, Barclays increased their price objective on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

Regions Financial Price Performance

Shares of Regions Financial stock opened at $23.85 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial has a one year low of $17.42 and a one year high of $27.96. The business’s 50 day simple moving average is $25.19 and its two-hundred day simple moving average is $23.16. The stock has a market capitalization of $21.68 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 2.61 and a beta of 1.19.

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 analysts’ consensus estimates of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the firm earned $0.49 EPS. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. Analysts forecast that Regions Financial will post 2.12 EPS for the current year.

Regions Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date was Monday, December 2nd. Regions Financial’s payout ratio is currently 56.50%.

Institutional Trading of Regions Financial

A number of institutional investors have recently made changes to their positions in the stock. State Street Corp lifted its position in Regions Financial by 16.3% during the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after purchasing an additional 7,791,399 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Regions Financial by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock worth $648,269,000 after buying an additional 816,226 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Regions Financial by 1.4% in the third quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock worth $526,118,000 after acquiring an additional 315,605 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Regions Financial by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock worth $285,562,000 after acquiring an additional 979,597 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Regions Financial by 13.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock valued at $201,238,000 after acquiring an additional 1,014,706 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

About Regions Financial

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.