Regions Financial (NYSE:RF) Price Target Cut to $28.00 by Analysts at Citigroup

Regions Financial (NYSE:RF) had its price target dropped by stock analysts at Citigroup from $30.00 to $28.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the bank’s stock. Citigroup’s price target would suggest a potential upside of 31.80% from the company’s previous close.

Several other equities analysts have also recently issued reports on RF. Barclays boosted their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. Piper Sandler boosted their price target on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Truist Financial raised their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, January 21st. Morgan Stanley reiterated an “equal weight” rating and set a $32.00 target price (up previously from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Finally, Compass Point increased their target price on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Regions Financial presently has an average rating of “Moderate Buy” and an average target price of $27.56.

Regions Financial Stock Performance

Shares of NYSE:RF traded up $0.26 on Wednesday, reaching $21.25. The company’s stock had a trading volume of 6,843,407 shares, compared to its average volume of 7,464,958. Regions Financial has a 52-week low of $17.72 and a 52-week high of $27.96. The stock has a market capitalization of $19.24 billion, a P/E ratio of 10.95, a PEG ratio of 1.93 and a beta of 1.19. The stock’s 50-day moving average is $23.81 and its two-hundred day moving average is $24.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the firm posted $0.39 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, sell-side analysts forecast that Regions Financial will post 2.26 EPS for the current year.

Institutional Investors Weigh In On Regions Financial

Hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new stake in Regions Financial in the 4th quarter valued at approximately $279,103,000. State Street Corp grew its stake in shares of Regions Financial by 16.3% in the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after purchasing an additional 7,791,399 shares in the last quarter. Invesco Ltd. raised its stake in shares of Regions Financial by 14.5% during the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank’s stock valued at $363,823,000 after purchasing an additional 1,963,954 shares in the last quarter. Deutsche Bank AG lifted its holdings in Regions Financial by 52.7% in the fourth quarter. Deutsche Bank AG now owns 5,522,612 shares of the bank’s stock worth $129,892,000 after purchasing an additional 1,907,121 shares during the period. Finally, National Bank of Canada FI grew its position in Regions Financial by 575.8% in the 3rd quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock valued at $39,784,000 after buying an additional 1,452,956 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

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.