Regions Financial (NYSE:RF) Lifted to Outperform at Wedbush

Regions Financial (NYSE:RF) was upgraded by analysts at Wedbush from a “neutral” rating to an “outperform” rating in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a $28.00 price target on the bank’s stock, up from their prior price target of $23.00. Wedbush’s price objective indicates a potential upside of 22.22% from the stock’s current price.

A number of other brokerages also recently commented on RF. StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. Wells Fargo & Company raised their price objective on shares of Regions Financial from $18.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Truist Financial boosted their target price on shares of Regions Financial from $23.00 to $25.00 and gave the company a “hold” rating in a research note on Friday. Keefe, Bruyette & Woods dropped their price target on shares of Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Finally, Bank of America upped their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.06.

Regions Financial Price Performance

Shares of NYSE:RF opened at $22.91 on Tuesday. Regions Financial has a twelve month low of $13.72 and a twelve month high of $23.47. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. The company has a market cap of $20.98 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 2.82 and a beta of 1.17. The company’s 50 day moving average is $22.12 and its 200 day moving average is $20.45.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, July 19th. The bank reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.76 billion. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The business’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 earnings per share. On average, sell-side analysts forecast that Regions Financial will post 2 EPS for the current year.

Institutional Investors Weigh In On Regions Financial

A number of hedge funds have recently modified their holdings of RF. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Regions Financial by 78.3% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,600 shares of the bank’s stock valued at $7,467,000 after acquiring an additional 163,600 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Regions Financial in the second quarter valued at approximately $1,653,000. Truist Financial Corp grew its position in shares of Regions Financial by 2.1% in the second quarter. Truist Financial Corp now owns 190,853 shares of the bank’s stock valued at $3,825,000 after purchasing an additional 4,001 shares in the last quarter. Chase Investment Counsel Corp acquired a new stake in shares of Regions Financial in the second quarter valued at approximately $256,000. Finally, Quarry LP lifted its position in Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after buying an additional 816 shares in the last quarter. 79.39% of the stock is currently 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.