Regions Financial (NYSE:RF) Given New $28.00 Price Target at Citigroup

Regions Financial (NYSE:RF) had its price target reduced by Citigroup from $30.00 to $28.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the bank’s stock.

Several other research firms have also recently weighed in on RF. The Goldman Sachs Group boosted their price objective on shares of Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Barclays boosted their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Truist Financial boosted their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, January 21st. Piper Sandler boosted their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Compass Point boosted their price objective on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.56.

Regions Financial Stock Performance

NYSE:RF opened at $21.09 on Wednesday. Regions Financial has a 1 year low of $17.72 and a 1 year high of $27.96. The firm has a 50 day moving average of $23.76 and a 200-day moving average of $24.03. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $19.09 billion, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the company posted $0.39 earnings per share. Regions Financial’s quarterly revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Regions Financial will post 2.26 EPS for the current fiscal year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend is Monday, March 3rd. Regions Financial’s dividend payout ratio (DPR) is 51.55%.

Hedge Funds Weigh In On Regions Financial

Several institutional investors and hedge funds have recently made changes to their positions in RF. Janney Montgomery Scott LLC lifted its position in Regions Financial by 16.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 66,925 shares of the bank’s stock valued at $1,561,000 after acquiring an additional 9,407 shares in the last quarter. Principal Financial Group Inc. lifted its position in Regions Financial by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,087,697 shares of the bank’s stock valued at $25,376,000 after acquiring an additional 34,125 shares in the last quarter. Assetmark Inc. lifted its position in Regions Financial by 6.8% in the 3rd quarter. Assetmark Inc. now owns 18,637 shares of the bank’s stock valued at $435,000 after acquiring an additional 1,184 shares in the last quarter. Atria Investments Inc lifted its position in Regions Financial by 4.1% in the 3rd quarter. Atria Investments Inc now owns 19,100 shares of the bank’s stock valued at $446,000 after acquiring an additional 754 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in Regions Financial by 413.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,708 shares of the bank’s stock valued at $87,000 after acquiring an additional 2,986 shares in the last quarter. Institutional investors and hedge funds 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.