Regions Financial (NYSE:RF) Upgraded by Wedbush to Outperform

Regions Financial (NYSE:RF) was upgraded by equities researchers at Wedbush from a “neutral” rating to an “outperform” rating in a research report issued on Tuesday, Benzinga reports. The firm currently has a $28.00 target price on the bank’s stock, up from their prior target price of $23.00. Wedbush’s price objective suggests a potential upside of 22.22% from the stock’s current price.

RF has been the subject of several other research reports. Keefe, Bruyette & Woods decreased their price target on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Wells Fargo & Company lifted their target price 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. Evercore ISI dropped their price target on Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a research report on Tuesday, June 25th. Morgan Stanley lifted their price objective on Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Jefferies Financial Group increased their target price on shares of Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $22.06.

Regions Financial Stock Performance

Shares of Regions Financial stock opened at $22.91 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. The stock’s fifty day moving average is $22.12 and its two-hundred day moving average is $20.45. Regions Financial has a 52 week low of $13.72 and a 52 week high of $23.47. The company has a market capitalization of $20.98 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 2.82 and a beta of 1.17.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. IFG Advisory LLC boosted its holdings in Regions Financial by 1.8% in the second quarter. IFG Advisory LLC now owns 30,928 shares of the bank’s stock worth $620,000 after acquiring an additional 546 shares in the last quarter. HB Wealth Management LLC boosted its stake in Regions Financial by 0.6% in the 1st quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock worth $2,035,000 after purchasing an additional 551 shares in the last quarter. CWM LLC grew its position in Regions Financial by 1.4% during the 1st quarter. CWM LLC now owns 41,137 shares of the bank’s stock worth $866,000 after purchasing an additional 556 shares during the last quarter. Perigon Wealth Management LLC increased its stake in Regions Financial by 2.8% during the 1st quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank’s stock valued at $433,000 after purchasing an additional 565 shares in the last quarter. Finally, Signet Financial Management LLC raised its holdings in shares of Regions Financial by 4.9% in the first quarter. Signet Financial Management LLC now owns 12,438 shares of the bank’s stock worth $262,000 after buying an additional 584 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

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.