TD Cowen Begins Coverage on Regions Financial (NYSE:RF)

TD Cowen started coverage on shares of Regions Financial (NYSE:RF) in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage set a “hold” rating and a $30.00 price target on the bank’s stock. TD Cowen’s price objective indicates a potential upside of 12.44% from the stock’s previous close.

RF has been the topic of several other research reports. UBS Group dropped their target price on shares of Regions Financial from $33.00 to $30.00 and set a “neutral” rating on the stock in a research note on Monday. Keefe, Bruyette & Woods lifted their price objective on shares of Regions Financial from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Monday, July 20th. Evercore reissued an “underperform” rating and set a $31.00 target price on shares of Regions Financial in a research report on Monday, July 6th. Jefferies Financial Group reissued a “hold” rating and set a $32.00 target price on shares of Regions Financial in a research report on Friday, July 17th. Finally, Citigroup raised their target price on shares of Regions Financial from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Five investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.69.

Regions Financial Stock Performance

NYSE:RF traded down $0.02 during midday trading on Thursday, reaching $26.68. 369,594 shares of the company traded hands, compared to its average volume of 11,497,312. Regions Financial has a twelve month low of $22.70 and a twelve month high of $32.47. The firm has a market capitalization of $22.73 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of 1.12 and a beta of 1.05. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81. The company has a fifty day moving average price of $29.72 and a 200 day moving average price of $28.92.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.05. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The company’s revenue was up .1% on a year-over-year basis. On average, analysts expect that Regions Financial will post 2.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Regions Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. WPG Advisers LLC lifted its stake in Regions Financial by 83.5% during the second quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock worth $25,000 after purchasing an additional 370 shares during the last quarter. Keating Financial Advisory Services Inc. acquired a new position in shares of Regions Financial during the second quarter valued at $25,000. Trust Co. of Vermont acquired a new position in shares of Regions Financial during the second quarter valued at $26,000. Gables Capital Management Inc. acquired a new position in shares of Regions Financial during the second quarter valued at $30,000. Finally, Pin Oak Investment Advisors Inc. acquired a new position in shares of Regions Financial during the second quarter valued at $36,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumers, businesses, and institutions.

Regions offers a range of products and services, including checking and savings accounts, consumer and commercial loans, mortgages, credit cards, treasury and cash-management services, investment and wealth-management solutions, and capital-markets services.