Regions Financial Corporation (NYSE:RF) shares traded 6.17% higher at $16.86 on Wall Street last session.
In accordance with the data, 28 analysts cover Regions Financial Corporation (NYSE:RF). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $25.00 and a low of $20.00, we find $22.00. Given the previous closing price of $15.88, this indicates a potential upside of 38.54 percent. RF stock price is now -6.80% away from the 50-day moving average and -20.05% away from the 200-day moving average. The market capitalization of the company currently stands at $15.60B.
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It has been rated a hold by 13 analysts and a buy by 14. Brokers who have rated the stock have averaged $21.96 as their price target over the next twelve months.
With the price target reduced from $21 to $20, Truist Downgraded its rating from Buy to Hold for Regions Financial Corporation (NYSE: RF). On April 10, 2023, UBS Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock keeping its target price maintained at $21, while ‘Jefferies’ rates the stock as ‘Hold’.
In other news, Ritter William D., SEVP sold 13,000 shares of the company’s stock on Jan 27. The stock was sold for $304,456 at an average price of $23.42. Upon completion of the transaction, the SEVP now directly owns 24,344 shares in the company, valued at $0.41 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 25, SEVP & CRO Lusco C. Matthew sold 100,000 shares of the business’s stock. A total of $2,282,760 was realized by selling the stock at an average price of $22.83. This leaves the insider owning 77,843 shares of the company worth $1.31 million. Insiders disposed of 609,408 shares of company stock worth roughly $10.27 million over the past 1 year. A total of 0.24% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RF stock. A new stake in Regions Financial Corporation shares was purchased by RHINO INVESTMENT PARTNERS, INC during the first quarter worth $27,423,000. LMR PARTNERS LLP invested $19,869,000 in shares of RF during the first quarter. In the first quarter, MANGROVE PARTNERS acquired a new stake in Regions Financial Corporation valued at approximately $8,653,000. HUDSON BAY CAPITAL MANAGEMENT LP acquired a new stake in RF for approximately $6,744,000. STRATEGIC VALUE BANK PARTNERS LLC purchased a new stake in RF valued at around $5,190,000 in the second quarter. In total, there are 1,215 active investors with 77.50% ownership of the company’s stock.
Regions Financial Corporation (NYSE: RF) opened at $16.04 on Wednesday. During the past 12 months, Regions Financial Corporation has had a low of $13.94 and a high of $24.33. The fifty day moving average price for RF is $17.98 and a two-hundred day moving average price translates $21.07 for the stock.
The latest earnings results from Regions Financial Corporation (NYSE: RF) was released for Mar, 2023. According to the Banks – Regional Company, earnings per share came in at $0.62, missing analysts’ expectations of $0.66 by -0.04. This compares to $0.55 EPS in the same period last year. The net profit margin was 38.80% and return on equity was 15.30% for RF. The company reported revenue of $1.64 billion for the quarter, compared to $1.05 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 55.99 percent. For the current quarter, analysts expect RF to generate $1.95B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/03/2023. Investors who held shares on 06/02/2023 were paid a $0.20 dividend. On an annualized basis, this represents a $0.80 dividend and a 4.74% percent yield. There was an ex-dividend date of 06/01/2023 for this dividend. In terms of dividend payout ratio, RF is presently at 31.30%.
Regions Financial Corporation(RF) 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. It serves corporate, middle market, and commercial real estate developers and investors. The Consumer Bank segment provides consumer banking products and services related to residential first mortgages, home equity lines and loans, consumer credit cards, and other consumer loans, as well as deposits. The Wealth Management segment offers credit related products, and retirement and savings solutions; and trust and investment management, asset management, and estate planning services to individuals, businesses, governmental institutions, and non-profit entities. It also provides investment and insurance products; low-income housing tax credit corporate fund syndication services; and other specialty financing services. The company was founded in 1971 and is headquartered in Birmingham, Alabama.
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