Regions Financial (NYSE:RF) Stock Rating Reaffirmed as Overweight by Cantor Fitzgerald

Regions Financial (NYSE:RF)‘s stock had its “overweight” rating reissued by equities researchers at Cantor Fitzgerald in a note issued to investors on Wednesday, Marketbeat reports. They presently have a $32.00 price objective on the bank’s stock. Cantor Fitzgerald‘s price target suggests a potential upside of 14.07% from the company’s current price.

Several other research firms have also commented on RF. Keefe, Bruyette & Woods lifted their price target on Regions Financial from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Wells Fargo & Company lifted their price target on Regions Financial from $28.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, July 6th. Capital One Financial set a $33.00 price target on Regions Financial in a research report on Monday. Truist Financial dropped their price target on Regions Financial from $31.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, TD Cowen began coverage on Regions Financial in a research report on Thursday, October 8th. They issued a “hold” rating and a $30.00 price target for the company. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Regions Financial presently has a consensus rating of “Hold” and an average target price of $31.13.

Regions Financial Trading Up 0.7%

RF traded up $0.20 on Wednesday, hitting $28.05. The company had a trading volume of 10,435,005 shares, compared to its average volume of 11,636,596. The company has a market cap of $23.90 billion, a PE ratio of 11.00, a PEG ratio of 1.11 and a beta of 1.05. Regions Financial has a 12-month low of $23.59 and a 12-month high of $32.47. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.36. The business’s fifty day simple moving average is $28.97 and its 200 day simple moving average is $29.02.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, October 16th. The bank reported $0.73 EPS for the quarter, topping the consensus estimate of $0.67 by $0.06. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Regions Financial had a return on equity of 13.43% and a net margin of 23.97%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $0.63 earnings per share. Equities research analysts expect that Regions Financial will post 2.66 EPS for the current year.

Institutional Investors Weigh In On Regions Financial

A number of large investors have recently made changes to their positions in RF. State Street Corp increased its holdings in Regions Financial by 6.2% in the 2nd quarter. State Street Corp now owns 50,667,092 shares of the bank’s stock valued at $1,543,092,000 after purchasing an additional 2,953,594 shares during the last quarter. First Trust Advisors LP increased its holdings in Regions Financial by 75.7% in the 1st quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock valued at $348,936,000 after purchasing an additional 5,754,487 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Regions Financial by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,827,358 shares of the bank’s stock valued at $256,633,000 after purchasing an additional 140,398 shares during the last quarter. Nykredit A S acquired a new stake in Regions Financial in the 2nd quarter valued at approximately $236,756,000. Finally, Bank of America Corp DE acquired a new stake in Regions Financial in the 2nd quarter valued at approximately $219,068,000. 79.39% of the stock is 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, institutions and governments.

Regions Bank offers checking and savings accounts, consumer and commercial loans, credit products, mortgages, treasury and cash-management services, investment and wealth-management solutions, and insurance-related services.