JPMorgan Chase & Co. Has Lowered Expectations for Regions Financial (NYSE:RF) Stock Price

Regions Financial (NYSE:RF) had its price target dropped by analysts at JPMorgan Chase & Co. from $26.00 to $23.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 23.38% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. Citigroup dropped their price target on Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Truist Financial decreased their target price on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Wells Fargo & Company dropped their price target on shares of Regions Financial from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Friday, March 28th. Barclays upped their price objective on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, January 6th. Finally, Compass Point increased their price objective on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.95.

Regions Financial Stock Performance

NYSE RF opened at $18.64 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The stock’s 50 day simple moving average is $22.88 and its 200-day simple moving average is $23.87. The company has a market cap of $16.88 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. Regions Financial has a 1-year low of $17.72 and a 1-year high of $27.96.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, beating 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 analyst estimates of $1.86 billion. During the same quarter last year, the firm posted $0.39 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities research analysts anticipate that Regions Financial will post 2.26 EPS for the current fiscal year.

Insider Activity

In other news, Director Joia M. Johnson purchased 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $21.18 per share, with a total value of $48,714.00. Following the completion of the acquisition, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have purchased 3,868 shares of company stock valued at $86,722. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Regions Financial

A number of institutional investors have recently added to or reduced their stakes in RF. Norges Bank acquired a new stake in shares of Regions Financial in the 4th quarter valued at approximately $279,103,000. State Street Corp raised its position in Regions Financial by 16.3% in the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after acquiring an additional 7,791,399 shares in the last quarter. Invesco Ltd. boosted its position in shares of Regions Financial by 14.5% during the 4th quarter. Invesco Ltd. now owns 15,468,674 shares of the bank’s stock worth $363,823,000 after purchasing an additional 1,963,954 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Regions Financial by 52.7% during the 4th quarter. Deutsche Bank AG now owns 5,522,612 shares of the bank’s stock worth $129,892,000 after purchasing an additional 1,907,121 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in shares of Regions Financial by 575.8% during the 3rd quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock worth $39,784,000 after purchasing an additional 1,452,956 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

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.