Regions Financial (NYSE:RF) Price Target Cut to $34.00 by Analysts at Morgan Stanley

Regions Financial (NYSE:RF) had its price target dropped by analysts at Morgan Stanley from $37.00 to $34.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the bank’s stock. Morgan Stanley’s price objective would suggest a potential upside of 30.39% from the company’s previous close.

RF has been the subject of several other research reports. Cantor Fitzgerald restated an “overweight” rating and set a $32.00 price target on shares of Regions Financial in a research note on Tuesday, March 3rd. Wall Street Zen cut shares of Regions Financial from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. UBS Group reiterated a “neutral” rating and set a $30.00 price target on shares of Regions Financial in a research note on Wednesday, February 4th. Truist Financial reduced their price objective on shares of Regions Financial from $29.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, March 23rd. Finally, Barclays increased their target price on Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, January 5th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $29.91.

Regions Financial Stock Up 3.3%

Shares of Regions Financial stock traded up $0.84 during trading hours on Tuesday, hitting $26.08. The company had a trading volume of 5,781,676 shares, compared to its average volume of 15,269,586. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. The company’s 50-day moving average is $27.92 and its two-hundred day moving average is $26.74. The company has a market cap of $22.52 billion, a P/E ratio of 11.37, a price-to-earnings-growth ratio of 0.91 and a beta of 1.02. Regions Financial has a twelve month low of $17.74 and a twelve month high of $31.53.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, January 16th. The bank reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. Regions Financial’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.56 earnings per share. Analysts anticipate that Regions Financial will post 2.26 earnings per share for the current fiscal year.

Regions Financial announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 10th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the bank to buy up to 12.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Regions Financial

In related news, EVP William D. Ritter sold 36,000 shares of Regions Financial stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the completion of the transaction, the executive vice president directly owned 17,569 shares in the company, valued at $505,635.82. The trade was a 67.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by company insiders.

Institutional Trading of Regions Financial

A number of hedge funds have recently bought and sold shares of the company. Root Financial Partners LLC increased its holdings in shares of Regions Financial by 3.9% during the 4th quarter. Root Financial Partners LLC now owns 9,148 shares of the bank’s stock worth $248,000 after buying an additional 346 shares during the last quarter. Van ECK Associates Corp grew its position in Regions Financial by 1.1% during the fourth quarter. Van ECK Associates Corp now owns 33,604 shares of the bank’s stock valued at $911,000 after acquiring an additional 373 shares during the period. Centaurus Financial Inc. increased its stake in Regions Financial by 3.9% during the second quarter. Centaurus Financial Inc. now owns 10,230 shares of the bank’s stock worth $241,000 after acquiring an additional 382 shares during the last quarter. Lcnb Corp increased its stake in Regions Financial by 3.8% during the fourth quarter. Lcnb Corp now owns 10,725 shares of the bank’s stock worth $291,000 after acquiring an additional 390 shares during the last quarter. Finally, West Paces Advisors Inc. raised its holdings in shares of Regions Financial by 4.0% in the 4th quarter. West Paces Advisors Inc. now owns 10,505 shares of the bank’s stock worth $285,000 after purchasing an additional 405 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

About Regions Financial

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.