Citigroup Raises Regions Financial (NYSE:RF) Price Target to $30.00

Regions Financial (NYSE:RF) had its price target boosted by analysts at Citigroup from $26.00 to $30.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. Citigroup’s price target suggests a potential upside of 9.95% from the stock’s previous close.

Several other equities analysts have also commented on RF. Evercore ISI raised their price target on Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. Truist Financial increased their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Regions Financial from a “hold” rating to a “buy” rating and boosted their price target for the company from $24.00 to $26.00 in a report on Thursday, October 24th. Barclays upped their price target on shares of Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company lifted their price objective on shares of Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Regions Financial presently has an average rating of “Moderate Buy” and a consensus price target of $26.41.

Regions Financial Price Performance

Regions Financial stock opened at $27.29 on Thursday. The stock has a market cap of $24.80 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 2.72 and a beta of 1.16. The firm has a 50-day moving average of $23.95 and a two-hundred day moving average of $21.77. Regions Financial has a 1 year low of $15.79 and a 1 year high of $27.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 EPS. On average, research analysts forecast that Regions Financial will post 2.12 earnings per share for the current year.

Hedge Funds Weigh In On Regions Financial

Several hedge funds and other institutional investors have recently modified their holdings of RF. EntryPoint Capital LLC acquired a new stake in Regions Financial during the 1st quarter worth about $26,000. American National Bank & Trust raised its stake in shares of Regions Financial by 1,856.7% in the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after purchasing an additional 1,114 shares during the last quarter. Quarry LP raised its stake in shares of Regions Financial by 157.2% in the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after purchasing an additional 816 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Regions Financial by 530.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after buying an additional 1,256 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in Regions Financial in the 2nd quarter worth approximately $32,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

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.