Citigroup Issues Pessimistic Forecast for Regions Financial (NYSE:RF) Stock Price

Regions Financial (NYSE:RF) had its target price decreased by equities researchers at Citigroup from $30.00 to $28.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. Citigroup’s price target would indicate a potential upside of 34.51% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Truist Financial lifted their price objective on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, January 21st. Barclays upped their price objective on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, January 6th. Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 price objective (up previously from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Wells Fargo & Company boosted their target price on shares of Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. Finally, Compass Point raised their price target on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

Regions Financial Stock Performance

NYSE:RF opened at $20.82 on Wednesday. The stock has a market cap of $18.85 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. Regions Financial has a fifty-two week low of $17.72 and a fifty-two week high of $27.96. The firm’s fifty day simple moving average is $23.71 and its 200-day simple moving average is $24.00. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.01. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. Regions Financial’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 earnings per share. Analysts expect that Regions Financial will post 2.26 earnings per share for the current fiscal year.

Insider Activity

In other Regions Financial news, Director Joia M. Johnson acquired 2,300 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $21.18 per share, with a total value of $48,714.00. Following the completion of the transaction, the director now directly owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. The trade was a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought 4,523 shares of company stock valued at $102,269 in the last three months. Corporate insiders own 0.29% of the company’s stock.

Institutional Trading of Regions Financial

A number of institutional investors have recently added to or reduced their stakes in RF. State Street Corp lifted its stake in shares of Regions Financial by 16.3% during the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after purchasing an additional 7,791,399 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Regions Financial by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock worth $686,398,000 after acquiring an additional 1,396,647 shares in the last quarter. Geode Capital Management LLC lifted its position in Regions Financial by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank’s stock worth $540,284,000 after acquiring an additional 403,283 shares in the last quarter. First Trust Advisors LP boosted its holdings in Regions Financial by 7.7% in the 4th quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank’s stock worth $401,097,000 after acquiring an additional 1,224,645 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Regions Financial by 14.5% during the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank’s stock valued at $363,823,000 after purchasing an additional 1,963,954 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

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.