Regions Financial (NYSE:RF) Stock Rating Reaffirmed as Hold by TD Cowen

Regions Financial (NYSE:RF)‘s stock had its “hold” rating reaffirmed by TD Cowen in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $30.00 target price on the bank’s stock. TD Cowen’s price target would suggest a potential upside of 12.68% from the stock’s previous close.

RF has been the topic of several other reports. Evercore reiterated an “underperform” rating and issued a $31.00 target price on shares of Regions Financial in a research note on Monday, July 6th. JPMorgan Chase & Co. cut their price target on shares of Regions Financial from $32.00 to $30.50 and set a “neutral” rating for the company in a research note on Friday, October 2nd. Wall Street Zen raised shares of Regions Financial from a “sell” rating to a “hold” rating in a report on Saturday, September 19th. Truist Financial lowered their price objective on shares of Regions Financial from $34.00 to $31.00 and set a “hold” rating on the stock in a research report on Wednesday, September 23rd. Finally, Citigroup lifted their price objective on shares of Regions Financial from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Five research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $31.69.

Regions Financial Trading Down 0.3%

Shares of RF opened at $26.62 on Thursday. The business has a 50-day moving average of $29.72 and a 200 day moving average of $28.92. Regions Financial has a fifty-two week low of $22.70 and a fifty-two week high of $32.47. The firm has a market cap of $22.68 billion, a P/E ratio of 10.86, 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 quick ratio of 0.81 and a current ratio of 0.81.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the business earned $0.60 earnings per share. As a group, research analysts forecast that Regions Financial will post 2.63 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RF. Eastern Bank raised its stake in shares of Regions Financial by 30.7% during the third quarter. Eastern Bank now owns 3,839 shares of the bank’s stock worth $103,000 after acquiring an additional 901 shares in the last quarter. Rockland Trust Co. boosted its stake in shares of Regions Financial by 3.8% in the 3rd quarter. Rockland Trust Co. now owns 50,142 shares of the bank’s stock valued at $1,348,000 after purchasing an additional 1,829 shares in the last quarter. QRG Capital Management Inc. grew its holdings in shares of Regions Financial by 13.1% during the 2nd quarter. QRG Capital Management Inc. now owns 144,105 shares of the bank’s stock valued at $4,352,000 after purchasing an additional 16,681 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Regions Financial by 12.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 733,501 shares of the bank’s stock valued at $22,152,000 after purchasing an additional 80,181 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Regions Financial by 433.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,129,927 shares of the bank’s stock valued at $64,324,000 after purchasing an additional 1,730,874 shares during the last quarter. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Company Profile

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.