Regions Financial (NYSE:RF) PT Raised to $24.00

Regions Financial (NYSE:RF) had its price objective increased by research analysts at Jefferies Financial Group from $22.00 to $24.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the bank’s stock. Jefferies Financial Group’s price objective points to a potential upside of 20.66% from the company’s current price.

Several other brokerages have also recently issued reports on RF. Evercore ISI reduced their price target on shares of Regions Financial from $22.00 to $21.00 and set an “in-line” rating on the stock in a research report on Tuesday, June 25th. StockNews.com raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research report on Thursday, June 27th. Piper Sandler upped their price objective on Regions Financial from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Morgan Stanley decreased their target price on Regions Financial from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Finally, Truist Financial cut their price target on Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.39.

Regions Financial Stock Performance

NYSE:RF opened at $19.89 on Wednesday. Regions Financial has a fifty-two week low of $13.72 and a fifty-two week high of $21.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. The company has a 50 day moving average price of $19.33 and a 200 day moving average price of $19.19. The stock has a market capitalization of $18.22 billion, a P/E ratio of 10.81, a PEG ratio of 2.19 and a beta of 1.18.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, April 19th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.08). The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The company’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. Equities research analysts forecast that Regions Financial will post 1.96 EPS for the current year.

Insider Buying and Selling at Regions Financial

In related news, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $19.95, for a total transaction of $458,850.00. Following the transaction, the executive vice president now owns 41,671 shares in the company, valued at approximately $831,336.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Regions Financial news, Director William C. Rhodes III bought 50,000 shares of Regions Financial stock in a transaction dated Tuesday, April 23rd. The stock was acquired at an average cost of $19.37 per share, with a total value of $968,500.00. Following the completion of the acquisition, the director now owns 50,000 shares of the company’s stock, valued at $968,500. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William D. Ritter sold 23,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $19.95, for a total value of $458,850.00. Following the transaction, the executive vice president now directly owns 41,671 shares in the company, valued at approximately $831,336.45. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Regions Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Regions Financial during the fourth quarter worth $210,379,000. Wellington Management Group LLP raised its position in Regions Financial by 8.4% during the 3rd quarter. Wellington Management Group LLP now owns 53,824,390 shares of the bank’s stock worth $925,780,000 after buying an additional 4,160,768 shares during the last quarter. Cincinnati Insurance Co. acquired a new stake in shares of Regions Financial in the 1st quarter worth $74,606,000. Vanguard Group Inc. boosted its holdings in shares of Regions Financial by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after acquiring an additional 3,119,237 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in shares of Regions Financial during the first quarter worth about $33,829,000. 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.