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

Regions Financial (NYSE:RF) had its price target upped by equities researchers at Jefferies Financial Group from $22.00 to $24.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 19.46% from the company’s current price.

Several other analysts also recently weighed in on RF. Evercore ISI reduced their target price on Regions Financial from $22.00 to $21.00 and set an “in-line” rating for the company in a report on Tuesday, June 25th. Truist Financial lowered their target price on shares of Regions Financial from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd. StockNews.com upgraded shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Thursday, June 27th. Morgan Stanley dropped their price objective on shares of Regions Financial from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Finally, Keefe, Bruyette & Woods boosted their price target on Regions Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Regions Financial presently has a consensus rating of “Hold” and an average target price of $20.39.

Regions Financial Stock Performance

RF stock remained flat at $20.09 during midday trading on Wednesday. The company’s stock had a trading volume of 2,244,980 shares, compared to its average volume of 8,016,159. The firm has a 50-day moving average price of $19.32 and a two-hundred day moving average price of $19.18. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The stock has a market cap of $18.40 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 2.19 and a beta of 1.18. Regions Financial has a 12 month low of $13.72 and a 12 month high of $21.08.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.62 EPS. Sell-side analysts predict that Regions Financial will post 1.96 EPS for the current year.

Insider Transactions at Regions Financial

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

Institutional Trading of Regions Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Regions Financial by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after acquiring an additional 3,119,237 shares in the last quarter. Advisor Resource Council acquired a new position in Regions Financial in the fourth quarter worth $1,944,000. abrdn plc raised its stake in Regions Financial by 17.0% during the fourth quarter. abrdn plc now owns 2,350,151 shares of the bank’s stock worth $45,546,000 after acquiring an additional 341,878 shares during the period. Mizuho Markets Americas LLC grew its holdings in shares of Regions Financial by 35.6% during the fourth quarter. Mizuho Markets Americas LLC now owns 153,136 shares of the bank’s stock valued at $2,968,000 after purchasing an additional 40,200 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its position in Regions Financial by 1,676.8% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 93,711 shares of the bank’s stock valued at $1,816,000 after purchasing an additional 88,437 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

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.