Regions Financial (NYSE:RF) Raised to “Hold” at Truist Financial

Regions Financial (NYSE:RF) was upgraded by stock analysts at Truist Financial to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other brokerages also recently issued reports on RF. Keefe, Bruyette & Woods raised Regions Financial from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $27.00 to $28.00 in a research report on Thursday, October 31st. Piper Sandler upped their target price on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Barclays increased their price target on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday. Morgan Stanley restated an “equal weight” rating and set a $32.00 price target (up previously from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Finally, Wedbush increased their price objective on shares of Regions Financial from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Regions Financial currently has a consensus rating of “Moderate Buy” and an average price target of $27.67.

Regions Financial Stock Up 0.3 %

NYSE:RF opened at $23.85 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial has a 1-year low of $17.42 and a 1-year high of $27.96. The company has a 50-day moving average of $25.19 and a 200 day moving average of $23.16. The firm has a market cap of $21.68 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 2.61 and a beta of 1.19.

Regions Financial (NYSE:RF) last posted its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the firm earned $0.49 EPS. Regions Financial’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, research analysts anticipate that Regions Financial will post 2.12 EPS for the current fiscal year.

Institutional Trading of Regions Financial

Hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. increased its position in shares of Regions Financial by 20.0% in the third quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock valued at $35,445,000 after buying an additional 253,708 shares in the last quarter. Commerce Bank increased its holdings in Regions Financial by 392.5% in the 3rd quarter. Commerce Bank now owns 248,325 shares of the bank’s stock worth $5,793,000 after acquiring an additional 197,900 shares in the last quarter. National Pension Service raised its position in Regions Financial by 6.3% during the third quarter. National Pension Service now owns 1,722,024 shares of the bank’s stock worth $40,175,000 after acquiring an additional 102,380 shares during the period. National Bank of Canada FI lifted its holdings in Regions Financial by 575.8% during the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock valued at $39,784,000 after purchasing an additional 1,452,956 shares in the last quarter. Finally, DRW Securities LLC acquired a new stake in shares of Regions Financial in the third quarter valued at about $1,659,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Company Profile

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.