Regions Financial (NYSE:RF) Price Target Raised to $28.00 at Morgan Stanley

Regions Financial (NYSE:RF) had its price objective hoisted by investment analysts at Morgan Stanley from $25.00 to $28.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the bank’s stock. Morgan Stanley’s price objective would indicate a potential upside of 24.00% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Bank of America upped their price objective on Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Wells Fargo & Company increased their price target 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. Piper Sandler increased their price target on Regions Financial from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Finally, Truist Financial increased their price target 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 investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $21.51.

Regions Financial Stock Up 0.7 %

NYSE:RF traded up $0.15 during trading hours on Tuesday, reaching $22.58. 405,907 shares of the stock were exchanged, compared to its average volume of 8,171,647. Regions Financial has a twelve month low of $13.72 and a twelve month high of $22.88. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a 50 day moving average of $19.88 and a 200 day moving average of $19.46. The stock has a market cap of $20.66 billion, a PE ratio of 12.27, a PEG ratio of 2.92 and a beta of 1.18.

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

Insiders Place Their Bets

In other Regions Financial news, EVP William D. Ritter sold 23,000 shares of the business’s 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 transaction, the executive vice president now owns 41,671 shares of the company’s stock, valued at $831,336.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.33% of the company’s stock.

Institutional Trading of Regions Financial

Several hedge funds have recently made changes to their positions in RF. Norges Bank bought a new stake in shares of Regions Financial in the fourth quarter valued at $210,379,000. Cincinnati Insurance Co. bought a new stake in shares of Regions Financial during the 1st quarter valued at $74,606,000. Vanguard Group Inc. raised its stake in shares of Regions Financial by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after purchasing an additional 3,119,237 shares during the period. Wellington Management Group LLP raised its stake in shares of Regions Financial by 3.6% during the 4th quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock valued at $1,080,928,000 after purchasing an additional 1,951,026 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in shares of Regions Financial during the 1st quarter valued at $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.