Regions Financial (NYSE:RF) Price Target Raised to $29.00

Regions Financial (NYSE:RF) had its price target boosted by equities research analysts at Piper Sandler from $25.00 to $29.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. Piper Sandler’s price objective would suggest a potential upside of 9.31% from the company’s previous close.

A number of other research firms have also recently commented on RF. Evercore ISI boosted their price objective on Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company lifted their price objective on Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. Wedbush upped their target price on Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. The Goldman Sachs Group increased their price target on Regions Financial from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Stephens upgraded Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective for the company in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Regions Financial has a consensus rating of “Moderate Buy” and an average price target of $27.18.

Regions Financial Stock Performance

NYSE RF opened at $26.53 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market capitalization of $24.11 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 2.82 and a beta of 1.19. Regions Financial has a 52-week low of $16.86 and a 52-week high of $27.96. The company has a 50-day simple moving average of $24.58 and a 200 day simple moving average of $22.16.

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 the consensus estimate of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The business’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 earned $0.49 EPS. On average, research analysts predict that Regions Financial will post 2.12 EPS for the current year.

Institutional Trading of Regions Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp lifted its holdings in shares of 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 acquiring an additional 7,791,399 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Regions Financial by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock worth $648,269,000 after buying an additional 816,226 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Regions Financial by 1.4% in the third quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock worth $526,118,000 after purchasing an additional 315,605 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Regions Financial by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after acquiring an additional 979,597 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Regions Financial by 13.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock worth $201,238,000 after purchasing an additional 1,014,706 shares during the last quarter. 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.