Regions Financial (NYSE:RF) Price Target Raised to $26.00 at Citigroup

Regions Financial (NYSE:RF) had its price objective boosted by stock analysts at Citigroup from $25.00 to $26.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. Citigroup’s target price would suggest a potential upside of 12.21% from the company’s current price.

Several other brokerages have also issued reports on RF. Royal Bank of Canada increased their price target on Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Keefe, Bruyette & Woods reduced their price objective on Regions Financial from $22.00 to $21.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Wells Fargo & Company raised their price objective on Regions Financial from $18.00 to $22.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. Finally, Truist Financial raised their price objective on Regions Financial from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Regions Financial presently has an average rating of “Hold” and a consensus price target of $21.57.

Regions Financial Trading Up 2.0 %

RF stock traded up $0.45 during trading on Thursday, hitting $23.17. The company had a trading volume of 1,835,753 shares, compared to its average volume of 7,929,405. The stock has a market cap of $21.22 billion, a PE ratio of 12.59, a PEG ratio of 2.82 and a beta of 1.17. The business has a 50-day moving average of $21.97 and a 200-day moving average of $20.36. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. Regions Financial has a one year low of $13.72 and a one year high of $23.47.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. Regions Financial had a net margin of 18.91% and a return on equity of 12.64%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the business earned $0.59 EPS. The company’s revenue was down 11.5% compared to the same quarter last year. Research analysts predict that Regions Financial will post 2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Regions Financial

A number of institutional investors have recently added to or reduced their stakes in RF. Norges Bank bought a new position in Regions Financial in the 4th quarter worth about $210,379,000. Cincinnati Insurance Co. purchased a new position in shares of Regions Financial in the 1st quarter worth about $74,606,000. Vanguard Group Inc. boosted its holdings in shares of Regions Financial by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after purchasing an additional 3,119,237 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Regions Financial by 3.6% in the 4th quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock worth $1,080,928,000 after purchasing an additional 1,951,026 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in shares of Regions Financial in the 1st quarter worth about $33,829,000. 79.39% of the stock is currently owned by 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.