Regions Financial (NYSE:RF) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Regions Financial (NYSE:RF) from a sell rating to a hold rating in a research note issued to investors on Saturday.

RF has been the topic of a number of other research reports. Jefferies Financial Group raised their price target on shares of Regions Financial from $22.00 to $24.00 and gave the stock a buy rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods cut their target price on shares of Regions Financial from $22.00 to $21.00 and set a market perform rating on the stock in a research note on Tuesday, July 9th. Citigroup raised shares of Regions Financial from a neutral rating to a buy rating and lifted their target price for the company from $20.00 to $23.00 in a research note on Monday, March 18th. Morgan Stanley cut their target price 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, Piper Sandler lifted their target price on shares of Regions Financial from $20.00 to $21.00 and gave the company a neutral rating in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Regions Financial presently has a consensus rating of Hold and an average price target of $20.39.

Regions Financial Price Performance

Shares of Regions Financial stock opened at $21.78 on Friday. The firm has a market cap of $19.94 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 2.34 and a beta of 1.18. Regions Financial has a 12-month low of $13.72 and a 12-month high of $21.83. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. The company’s fifty day simple moving average is $19.42 and its two-hundred day simple moving average is $19.24.

Regions Financial (NYSE:RF) last announced its quarterly earnings results 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 the consensus estimate of $1.75 billion. Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. Regions Financial’s revenue was down 10.5% on a year-over-year basis. During the same period last year, the business earned $0.62 EPS. As a group, equities analysts expect that Regions Financial will post 1.96 EPS for the current year.

Insider Activity at Regions Financial

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Regions Financial by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock worth $2,281,118,000 after buying an additional 3,119,237 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Regions Financial by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock worth $1,080,928,000 after acquiring an additional 1,951,026 shares during the period. Norges Bank bought a new stake in shares of Regions Financial in the fourth quarter worth approximately $210,379,000. Allspring Global Investments Holdings LLC grew its stake in shares of Regions Financial by 1.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank’s stock worth $162,163,000 after acquiring an additional 103,529 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Regions Financial by 19.9% in the fourth quarter. Victory Capital Management Inc. now owns 3,661,093 shares of the bank’s stock worth $70,952,000 after acquiring an additional 606,647 shares during the period. 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.