Truist Financial Lowers Regions Financial (NYSE:RF) Price Target to $24.00

Regions Financial (NYSE:RF) had its price objective decreased by investment analysts at Truist Financial from $26.00 to $24.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “hold” rating on the bank’s stock. Truist Financial’s price objective would indicate a potential upside of 10.73% from the stock’s current price.

RF has been the subject of a number of other research reports. The Goldman Sachs Group boosted their price objective on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Barclays boosted 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. Compass Point boosted their price objective on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Morgan Stanley restated an “equal weight” rating and set a $32.00 price objective (up previously from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Finally, Citigroup reduced their price objective on Regions Financial from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.44.

Regions Financial Trading Down 0.0 %

NYSE:RF opened at $21.68 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $23.46 and its two-hundred day moving average is $23.95. Regions Financial has a 52 week low of $17.72 and a 52 week high of $27.96. The company has a market cap of $19.63 billion, a PE ratio of 11.17, a P/E/G ratio of 1.93 and a beta of 1.19.

Regions Financial (NYSE:RF) last released its earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the business posted $0.39 EPS. Regions Financial’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts predict that Regions Financial will post 2.26 EPS for the current year.

Insider Transactions at Regions Financial

In related news, Director Joia M. Johnson bought 2,300 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost 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. This trade represents a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have bought 3,993 shares of company stock valued at $89,682. Corporate insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Regions Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Y.D. More Investments Ltd raised its position in shares of Regions Financial by 122.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock worth $27,000 after purchasing an additional 634 shares during the period. Sierra Ocean LLC acquired a new stake in shares of Regions Financial during the fourth quarter worth $28,000. Picton Mahoney Asset Management raised its position in shares of Regions Financial by 2,354.9% during the fourth quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock worth $29,000 after purchasing an additional 1,201 shares during the period. Millstone Evans Group LLC acquired a new stake in shares of Regions Financial during the fourth quarter worth $32,000. Finally, Truvestments Capital LLC purchased a new position in shares of Regions Financial during the third quarter valued at $37,000. 79.39% of the stock is owned by institutional investors and hedge funds.

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.