Regions Financial (NYSE:RF) PT Raised to $29.00

Regions Financial (NYSE:RF) had its target price hoisted by investment analysts at DA Davidson from $27.00 to $29.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the bank’s stock. DA Davidson’s target price indicates a potential upside of 22.36% from the stock’s current price.

RF has been the topic of a number of other research reports. Truist Financial raised their price target on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday. Evercore ISI raised their target price on shares of Regions Financial from $24.50 to $26.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. The Goldman Sachs Group upped their price target on shares of Regions Financial from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Barclays raised their price objective on shares of Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a research report on Monday. Finally, Citigroup upped their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $23.64.

Regions Financial Stock Down 0.5 %

Shares of RF stock traded down $0.12 during trading hours on Monday, reaching $23.70. 2,944,951 shares of the stock were exchanged, compared to its average volume of 7,901,552. The business’s fifty day moving average is $22.65 and its two-hundred day moving average is $20.89. The firm has a market capitalization of $21.71 billion, a P/E ratio of 12.88, a P/E/G ratio of 2.80 and a beta of 1.17. Regions Financial has a 12-month low of $13.72 and a 12-month high of $24.47. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, October 18th. The bank reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. Regions Financial’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 EPS. As a group, research analysts expect that Regions Financial will post 2.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Regions Financial

Institutional investors have recently modified their holdings of the stock. CWM LLC raised its stake in Regions Financial by 1.1% during the third quarter. CWM LLC now owns 42,346 shares of the bank’s stock valued at $988,000 after buying an additional 480 shares in the last quarter. Resonant Capital Advisors LLC raised its position in shares of Regions Financial by 2.4% during the 3rd quarter. Resonant Capital Advisors LLC now owns 21,845 shares of the bank’s stock valued at $515,000 after acquiring an additional 506 shares in the last quarter. IFG Advisory LLC lifted its stake in Regions Financial by 1.8% during the second quarter. IFG Advisory LLC now owns 30,928 shares of the bank’s stock worth $620,000 after purchasing an additional 546 shares during the last quarter. HB Wealth Management LLC boosted its holdings in Regions Financial by 0.6% in the first quarter. HB Wealth Management LLC now owns 96,720 shares of the bank’s stock worth $2,035,000 after purchasing an additional 551 shares during the period. Finally, Perigon Wealth Management LLC boosted its holdings in Regions Financial by 2.8% in the first quarter. Perigon Wealth Management LLC now owns 20,594 shares of the bank’s stock worth $433,000 after purchasing an additional 565 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

About Regions Financial

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.