Wells Fargo & Company Issues Positive Forecast for Regions Financial (NYSE:RF) Stock Price

Regions Financial (NYSE:RF) had its price target lifted by analysts at Wells Fargo & Company from $28.00 to $30.00 in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage currently has an “underweight” rating on the bank’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 0.94% from the stock’s current price.

RF has been the subject of several other research reports. JPMorgan Chase & Co. lowered their price target on shares of Regions Financial from $31.50 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Brean Capital initiated coverage on shares of Regions Financial in a research note on Thursday, March 12th. They issued a “neutral” rating on the stock. Royal Bank Of Canada lifted their target price on shares of Regions Financial from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Piper Sandler dropped their target price on shares of Regions Financial from $31.00 to $28.00 and set a “neutral” rating for the company in a research report on Monday, March 30th. Finally, Morgan Stanley increased their price target on Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Regions Financial has an average rating of “Hold” and an average price target of $30.62.

Regions Financial Trading Up 0.0%

RF stock opened at $30.29 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.18. Regions Financial has a twelve month low of $22.70 and a twelve month high of $31.53. The company has a market cap of $25.84 billion, a P/E ratio of 12.62, a PEG ratio of 1.15 and a beta of 1.00. The business has a fifty day moving average of $28.38 and a 200-day moving average of $28.01.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, April 17th. The bank reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.92 billion. Regions Financial had a return on equity of 12.70% and a net margin of 23.13%.The company’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the company earned $0.54 earnings per share. As a group, equities research analysts expect 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 Regions Financial stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Regions Financial

Several institutional investors have recently modified their holdings of RF. Empowered Funds LLC lifted its stake in Regions Financial by 7.2% in the first quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after buying an additional 1,278 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Regions Financial by 40.7% during the first quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock worth $1,669,000 after acquiring an additional 22,216 shares during the period. Baird Financial Group Inc. lifted its position in Regions Financial by 0.7% in the 2nd quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock valued at $1,687,000 after acquiring an additional 511 shares in the last quarter. Federated Hermes Inc. lifted its position in Regions Financial by 81.2% in the 2nd quarter. Federated Hermes Inc. now owns 11,677 shares of the bank’s stock valued at $275,000 after acquiring an additional 5,233 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Regions Financial by 5.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank’s stock worth $3,320,000 after purchasing an additional 6,690 shares during the period. Institutional investors own 79.39% of the company’s stock.

Regions Financial Company Profile

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.