Regions Financial (NYSE:RF) Cut to Neutral at DA Davidson

Regions Financial (NYSE:RF) was downgraded by equities research analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research note issued on Monday, MarketBeat reports. They presently have a $33.00 target price on the bank’s stock. DA Davidson’s price target suggests a potential upside of 8.96% from the stock’s current price.

A number of other equities research analysts have also weighed in on RF. Morgan Stanley lifted their target price on Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. JPMorgan Chase & Co. lowered their price objective on shares of Regions Financial from $31.50 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Piper Sandler dropped their price objective on Regions Financial from $31.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, March 30th. Wells Fargo & Company boosted their price objective on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday. Finally, Brean Capital began coverage on shares of Regions Financial in a research note on Thursday, March 12th. They issued a “neutral” rating for the company. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, Regions Financial presently has a consensus rating of “Hold” and a consensus target price of $30.69.

Regions Financial Stock Up 0.0%

Shares of NYSE:RF opened at $30.29 on Monday. The firm has a market capitalization of $25.84 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 1.15 and a beta of 1.00. The business has a 50 day simple moving average of $28.38 and a two-hundred day simple moving average of $28.01. Regions Financial has a 1 year low of $22.70 and a 1 year high of $31.53. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.80 and a quick ratio of 0.80.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, April 17th. The bank reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.92 billion. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.Regions Financial’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.54 EPS. On average, equities analysts predict that Regions Financial will post 2.61 EPS for the current year.

Insider Buying and Selling

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $27.91, for a total value of $195,760.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Darwin Wealth Management LLC purchased a new stake in shares of Regions Financial during the 2nd quarter worth about $25,000. SouthState Bank Corp lifted its position in shares of Regions Financial by 94.1% during the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock valued at $30,000 after buying an additional 538 shares in the last quarter. Spire Wealth Management grew its stake in Regions Financial by 91.5% in the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock valued at $32,000 after acquiring an additional 557 shares during the period. Princeton Global Asset Management LLC grew its stake in Regions Financial by 260.4% in the 4th quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock valued at $32,000 after acquiring an additional 854 shares during the period. Finally, Leonteq Securities AG purchased a new stake in Regions Financial in the 4th quarter worth $33,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.