Regions Financial (NYSE:RF – Get Free Report) had its price objective decreased by research analysts at Morgan Stanley from $36.00 to $35.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Morgan Stanley’s price target would indicate a potential upside of 27.81% from the stock’s current price.
A number of other research firms also recently weighed in on RF. Wall Street Zen raised shares of Regions Financial from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. Truist Financial dropped their price target on Regions Financial from $34.00 to $31.00 and set a “hold” rating on the stock in a research report on Wednesday. Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 target price on shares of Regions Financial in a research note on Friday, July 17th. Robert W. Baird raised Regions Financial from an “underperform” rating to a “neutral” rating and set a $28.00 price target for the company in a research report on Friday, September 18th. Finally, Cantor Fitzgerald raised their price objective on Regions Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Six equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $32.06.
Read Our Latest Analysis on Regions Financial
Regions Financial Price Performance
Regions Financial (NYSE:RF – Get Free Report) last posted its quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter last year, the company posted $0.60 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. As a group, research analysts forecast that Regions Financial will post 2.63 EPS for the current year.
Institutional Investors Weigh In On Regions Financial
A number of institutional investors and hedge funds have recently modified their holdings of RF. Norges Bank acquired a new position in shares of Regions Financial during the 4th quarter worth approximately $254,564,000. Victory Capital Management Inc. lifted its holdings in Regions Financial by 68.9% during the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock valued at $618,860,000 after purchasing an additional 9,312,449 shares during the last quarter. Nykredit A S acquired a new stake in Regions Financial during the 2nd quarter valued at $236,756,000. Bank of America Corp DE bought a new position in Regions Financial during the second quarter worth $219,068,000. Finally, First Trust Advisors LP boosted its position in Regions Financial by 75.7% during the first quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock worth $348,936,000 after purchasing an additional 5,754,487 shares during the period. 79.39% of the stock is owned by 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 consumer, commercial and institutional customers.
Regions Bank offers checking and savings accounts, consumer loans, credit cards, mortgages, home equity products and other personal banking services. Its commercial and corporate offerings include business loans, treasury management, equipment financing, capital markets services and other solutions for companies, municipalities and institutions.
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