Piper Sandler Forecasts Strong Price Appreciation for Regions Financial (NYSE:RF) Stock

Regions Financial (NYSE:RF) had its price objective lifted by equities researchers at Piper Sandler from $25.00 to $29.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. Piper Sandler’s price target would suggest a potential upside of 10.35% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the company. StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Argus upgraded Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Thursday, October 24th. DA Davidson raised their price objective on Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Barclays raised their price objective on Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company lifted their target price on Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $27.18.

Regions Financial Stock Performance

Regions Financial stock opened at $26.28 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a fifty day moving average of $24.72 and a two-hundred day moving average of $22.23. The company has a market capitalization of $23.88 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 2.75 and a beta of 1.19. Regions Financial has a fifty-two week low of $16.86 and a fifty-two week high of $27.96.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the business posted $0.49 EPS. The business’s quarterly revenue was down 3.7% on a year-over-year basis. On average, analysts anticipate that Regions Financial will post 2.12 EPS for the current fiscal year.

Institutional Trading of Regions Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Citigroup Inc. increased its holdings in Regions Financial by 20.0% in the third quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock valued at $35,445,000 after buying an additional 253,708 shares during the last quarter. Commerce Bank increased its holdings in Regions Financial by 392.5% in the third quarter. Commerce Bank now owns 248,325 shares of the bank’s stock valued at $5,793,000 after buying an additional 197,900 shares during the last quarter. National Pension Service increased its holdings in Regions Financial by 6.3% in the third quarter. National Pension Service now owns 1,722,024 shares of the bank’s stock valued at $40,175,000 after buying an additional 102,380 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Regions Financial in the third quarter valued at about $3,451,000. Finally, DRW Securities LLC bought a new stake in Regions Financial in the third quarter valued at about $1,659,000. 79.39% of the stock is 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.