Morgan Stanley Reiterates “Equal Weight” Rating for Regions Financial (NYSE:RF)

Regions Financial (NYSE:RF)‘s stock had its “equal weight” rating reiterated by equities research analysts at Morgan Stanley in a report released on Monday, Marketbeat reports. They presently have a $32.00 target price on the bank’s stock, up from their previous target price of $28.00. Morgan Stanley’s target price suggests a potential upside of 26.33% from the company’s current price.

Other research analysts have also issued reports about the stock. Stephens raised shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 target price for the company in a research note on Tuesday, October 29th. Piper Sandler raised their price target on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods upgraded shares of Regions Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $27.00 to $28.00 in a report on Thursday, October 31st. Wells Fargo & Company boosted their target price on shares of Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. Finally, Wedbush boosted their target price on Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.61.

Regions Financial Stock Performance

Shares of NYSE:RF opened at $25.33 on Monday. The business’s 50-day simple moving average is $24.96 and its 200 day simple moving average is $22.43. The company has a market cap of $23.02 billion, a P/E ratio of 14.31, a PEG ratio of 2.72 and a beta of 1.19. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial has a one year low of $17.18 and a one year high of $27.96.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. Regions Financial’s revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 earnings per share. On average, sell-side analysts forecast that Regions Financial will post 2.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Regions Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RF. American National Bank & Trust increased its stake in shares of Regions Financial by 1,856.7% during the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after purchasing an additional 1,114 shares during the last quarter. Quarry LP boosted its holdings in Regions Financial by 157.2% in the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after purchasing an additional 816 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Regions Financial by 530.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after buying an additional 1,256 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Regions Financial in the second quarter worth about $32,000. Finally, EdgeRock Capital LLC bought a new stake in shares of Regions Financial during the 2nd quarter worth about $33,000. Institutional investors own 79.39% of the company’s stock.

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.