Regions Financial (NYSE:RF) Price Target Raised to $32.00

Regions Financial (NYSE:RF) had its price objective boosted by research analysts at JPMorgan Chase & Co. from $31.50 to $32.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 3.03% from the stock’s current price.

Several other research firms also recently weighed in on RF. Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 target price on shares of Regions Financial in a research report on Friday, July 17th. Royal Bank Of Canada reiterated an “outperform” rating and set a $34.00 target price on shares of Regions Financial in a research note on Monday, July 20th. Evercore reaffirmed an “underperform” rating and set a $31.00 price target on shares of Regions Financial in a report on Monday, July 6th. Morgan Stanley increased their price objective on Regions Financial from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Finally, Robert W. Baird reaffirmed an “underperform” rating and issued a $28.00 price target on shares of Regions Financial in a report on Monday, July 6th. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Regions Financial presently has a consensus rating of “Hold” and a consensus price target of $32.24.

Regions Financial Trading Down 0.7%

Shares of NYSE:RF traded down $0.21 during midday trading on Wednesday, reaching $31.06. 3,642,813 shares of the company’s stock were exchanged, compared to its average volume of 12,617,448. The firm’s 50 day simple moving average is $29.52 and its two-hundred day simple moving average is $28.40. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market cap of $26.51 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 1.18 and a beta of 1.00. Regions Financial has a fifty-two week low of $22.70 and a fifty-two week high of $32.47.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, July 17th. The bank reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. Regions Financial’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 earnings per share. As a group, sell-side analysts forecast that Regions Financial will post 2.62 EPS for the current fiscal year.

Insider Buying and Selling at Regions Financial

In related news, EVP Brian R. Willman sold 7,014 shares of the firm’s 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 is available at this link. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of RF. Root Financial Partners LLC increased its stake in Regions Financial by 3.9% in the 4th quarter. Root Financial Partners LLC now owns 9,148 shares of the bank’s stock valued at $248,000 after buying an additional 346 shares during the period. Master S Wealth Management Inc. lifted its position in Regions Financial by 1.0% in the first quarter. Master S Wealth Management Inc. now owns 38,631 shares of the bank’s stock valued at $1,009,000 after purchasing an additional 372 shares during the period. Van ECK Associates Corp boosted its holdings in Regions Financial by 1.1% in the 4th quarter. Van ECK Associates Corp now owns 33,604 shares of the bank’s stock valued at $911,000 after purchasing an additional 373 shares in the last quarter. Legacy Wealth Managment LLC ID grew its holdings in Regions Financial by 17.3% during the first quarter. Legacy Wealth Managment LLC ID now owns 2,589 shares of the bank’s stock worth $68,000 after acquiring an additional 381 shares during the period. Finally, Lcnb Corp boosted its position in shares of Regions Financial by 3.8% during the 4th quarter. Lcnb Corp now owns 10,725 shares of the bank’s stock worth $291,000 after purchasing an additional 390 shares in the last quarter. Institutional investors and hedge funds 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.