StockNews.com Upgrades Regions Financial (NYSE:RF) to Hold

Regions Financial (NYSE:RF) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Other equities research analysts have also recently issued reports about the stock. Truist Financial raised their price target on shares of Regions Financial from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd. Bank of America lifted their target price on shares of Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Morgan Stanley boosted their price target on Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company lifted their price objective on Regions Financial from $18.00 to $22.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Finally, Citigroup upped their target price on Regions Financial from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $21.51.

Regions Financial Trading Up 0.2 %

Shares of RF opened at $21.97 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. Regions Financial has a 1-year low of $13.72 and a 1-year high of $23.47. The stock has a market cap of $20.11 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 2.82 and a beta of 1.17. The firm has a 50 day simple moving average of $21.82 and a 200-day simple moving average of $20.27.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The business’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 earnings per share. Equities analysts forecast that Regions Financial will post 2 EPS for the current fiscal year.

Institutional Investors Weigh In On Regions Financial

A number of large investors have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new position in shares of Regions Financial during the second quarter worth $1,653,000. Truist Financial Corp lifted its holdings in Regions Financial by 2.1% in the 2nd quarter. Truist Financial Corp now owns 190,853 shares of the bank’s stock worth $3,825,000 after buying an additional 4,001 shares in the last quarter. Chase Investment Counsel Corp purchased a new position in Regions Financial in the 2nd quarter valued at about $256,000. Quarry LP grew its stake in shares of Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after acquiring an additional 816 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of Regions Financial by 6.7% in the second quarter. NewEdge Advisors LLC now owns 57,792 shares of the bank’s stock worth $1,158,000 after acquiring an additional 3,638 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

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.