Regions Financial (NYSE:RF) Price Target Increased to $26.00 by Analysts at Citigroup

Regions Financial (NYSE:RF) had its price objective lifted by Citigroup from $25.00 to $26.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the bank’s stock. Citigroup’s target price would indicate a potential upside of 12.51% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group upped their price target on shares of Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Morgan Stanley lifted their price target on shares of Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Bank of America increased their price objective on Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Royal Bank of Canada lifted their target price on Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Finally, StockNews.com raised Regions Financial from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $21.69.

Regions Financial Stock Down 1.1 %

Shares of NYSE RF opened at $23.11 on Thursday. Regions Financial has a 1 year low of $13.72 and a 1 year high of $23.47. The firm has a 50-day simple moving average of $22.08 and a two-hundred day simple moving average of $20.41. The company has a market cap of $21.16 billion, a P/E ratio of 12.56, a PEG ratio of 2.82 and a beta of 1.17. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.76 billion. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. Regions Financial’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same period last year, the company earned $0.59 EPS. Research analysts anticipate that Regions Financial will post 2 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Regions Financial by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after purchasing an additional 3,119,237 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Regions Financial by 3.6% in the fourth quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock valued at $1,080,928,000 after purchasing an additional 1,951,026 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Regions Financial by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after purchasing an additional 979,597 shares during the period. Norges Bank acquired a new stake in shares of Regions Financial during the fourth quarter worth about $210,379,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Regions Financial by 1.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,707,381 shares of the bank’s stock valued at $162,163,000 after buying an additional 103,529 shares during the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

About Regions Financial

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.