Regions Financial (NYSE:RF) Price Target Cut to $23.00 by Analysts at JPMorgan Chase & Co.

Regions Financial (NYSE:RF) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $26.00 to $23.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 4.40% from the stock’s current price.

RF has been the subject of several other research reports. Wells Fargo & Company dropped their target price on Regions Financial from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Friday, March 28th. Citigroup dropped their price objective on Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a report on Monday, March 24th. Compass Point increased their target price on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Truist Financial lowered their target price on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a research note on Friday, March 21st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $32.00 price target (up previously from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.95.

Regions Financial Stock Up 2.1 %

Shares of RF opened at $22.03 on Thursday. 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 has a fifty day moving average of $23.09 and a 200 day moving average of $23.93. The company has a market cap of $19.95 billion, a PE ratio of 11.36, a P/E/G ratio of 1.93 and a beta of 1.19. Regions Financial has a 52-week low of $17.72 and a 52-week high of $27.96.

Regions Financial (NYSE:RF) last released its earnings results 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 analyst estimates of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the business earned $0.39 EPS. On average, sell-side analysts expect that Regions Financial will post 2.26 EPS for the current year.

Insider Activity

In other news, Director Joia M. Johnson bought 2,300 shares of the firm’s stock in a transaction that occurred on 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have bought 3,868 shares of company stock worth $86,722. Corporate insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Regions Financial

A number of large investors have recently made changes to their positions in RF. State Street Corp grew its stake in Regions Financial by 16.3% during the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after buying an additional 7,791,399 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Regions Financial by 5.0% in the fourth 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 grew its stake in shares of Regions Financial by 1.8% during the fourth 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 during the last quarter. First Trust Advisors LP increased its holdings in shares of Regions Financial by 7.7% during the fourth quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank’s stock valued at $401,097,000 after acquiring an additional 1,224,645 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Regions Financial by 14.5% in the 4th 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 last quarter. 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.