Regions Financial (NYSE:RF) PT Raised to $30.00

Regions Financial (NYSE:RF) had its price target increased by Wedbush from $28.00 to $30.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the bank’s stock. Wedbush’s price objective would suggest a potential upside of 26.90% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Citigroup raised their price target on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Wells Fargo & Company raised their target price on shares of Regions Financial from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday. Royal Bank of Canada boosted their price target on Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Truist Financial raised their price objective on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Jefferies Financial Group upped their target price on Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Regions Financial presently has a consensus rating of “Hold” and a consensus target price of $23.64.

Regions Financial Stock Performance

Shares of RF stock opened at $23.64 on Monday. Regions Financial has a 52 week low of $13.72 and a 52 week high of $24.47. The company has a market capitalization of $21.65 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 2.80 and a beta of 1.17. The company has a 50-day simple moving average of $22.76 and a 200 day simple moving average of $20.94. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. Regions Financial’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 EPS. On average, sell-side analysts predict that Regions Financial will post 2.02 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. American National Bank & Trust grew its holdings in shares of Regions Financial by 1,856.7% during the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after purchasing an additional 1,114 shares during the last quarter. EntryPoint Capital LLC bought a new position in Regions Financial in the 1st quarter valued at approximately $26,000. Quarry LP boosted its position in Regions Financial by 157.2% during the 2nd quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after buying an additional 816 shares during the period. MV Capital Management Inc. grew its holdings in Regions Financial by 75.6% during the 1st quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after acquiring an additional 618 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in Regions Financial by 530.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,256 shares during the period. 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.