Citigroup Cuts Regions Financial (NYSE:RF) Price Target to $25.00

Regions Financial (NYSE:RF) had its price target trimmed by Citigroup from $28.00 to $25.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a buy rating on the bank’s stock.

Several other research firms also recently issued reports on RF. The Goldman Sachs Group raised their price target on shares of Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Barclays lifted their target price on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Piper Sandler increased their price target on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Morgan Stanley restated an “equal weight” rating and set a $32.00 price objective (up from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Finally, Compass Point upped their target price on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.28.

Regions Financial Trading Down 0.8 %

Shares of RF stock opened at $22.24 on Monday. Regions Financial has a twelve month low of $17.72 and a twelve month high of $27.96. The stock’s fifty day simple moving average is $23.35 and its 200 day simple moving average is $23.94. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $20.13 billion, a P/E ratio of 11.46, a P/E/G ratio of 1.93 and a beta of 1.19.

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

Regions Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.50%. Regions Financial’s dividend payout ratio (DPR) is presently 51.55%.

Insider Activity at Regions Financial

In other Regions Financial news, Director Joia M. Johnson purchased 2,300 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the purchase, the director now owns 17,486 shares of the company’s stock, valued at $370,353.48. This trade represents a 15.15 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders bought 3,993 shares of company stock valued at $89,682 in the last three months. Corporate insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Regions Financial during the fourth quarter valued at approximately $279,103,000. State Street Corp lifted its stake in Regions Financial by 16.3% during the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after acquiring an additional 7,791,399 shares in the last quarter. Invesco Ltd. boosted its holdings in Regions Financial by 14.5% during the 4th quarter. Invesco Ltd. now owns 15,468,674 shares of the bank’s stock worth $363,823,000 after acquiring an additional 1,963,954 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Regions Financial by 52.7% in the 4th quarter. Deutsche Bank AG now owns 5,522,612 shares of the bank’s stock worth $129,892,000 after acquiring an additional 1,907,121 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of Regions Financial by 575.8% in the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock valued at $39,784,000 after purchasing an additional 1,452,956 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

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.