Regions Financial (NYSE:RF) Price Target Cut to $26.00 by Analysts at Wells Fargo & Company

Regions Financial (NYSE:RF) had its price target reduced by research analysts at Wells Fargo & Company from $28.00 to $26.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 28.65% from the stock’s previous close.

RF has been the topic of a number of other reports. Barclays lifted their price target on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, January 6th. Truist Financial lowered their price target on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a research report on Friday, March 21st. Citigroup reduced their target price on Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a report on Monday, March 24th. Morgan Stanley reissued an “equal weight” rating and issued a $32.00 target price (up from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Finally, Compass Point raised their target price on shares of Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.95.

Regions Financial Trading Down 8.2 %

Regions Financial stock traded down $1.81 during trading hours on Friday, reaching $20.21. 4,140,737 shares of the company’s stock were exchanged, compared to its average volume of 7,795,904. The firm has a market capitalization of $18.30 billion, a PE ratio of 10.42, a PEG ratio of 1.93 and a beta of 1.19. The firm’s 50 day simple moving average is $23.09 and its 200 day simple moving average is $23.93. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. Regions Financial has a twelve month low of $17.72 and a twelve month high of $27.96.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.01. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.39 earnings per share. Research analysts predict that Regions Financial will post 2.26 earnings per share for the current year.

Insiders Place Their Bets

In other Regions Financial news, Director Joia M. Johnson purchased 2,300 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $21.18 per share, with a total value of $48,714.00. Following the completion of the purchase, the director now owns 17,486 shares in the company, valued at approximately $370,353.48. This represents a 15.15 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Over the last ninety days, insiders purchased 3,868 shares of company stock worth $86,722. Company insiders own 0.29% of the company’s stock.

Institutional Trading of Regions Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans raised its stake in shares of Regions Financial by 9.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 79,453 shares of the bank’s stock valued at $1,855,000 after acquiring an additional 6,665 shares during the period. Private Trust Co. NA lifted its stake in Regions Financial by 26.5% during the 3rd quarter. Private Trust Co. NA now owns 6,309 shares of the bank’s stock worth $147,000 after acquiring an additional 1,321 shares in the last quarter. FMR LLC boosted its holdings in Regions Financial by 8.4% during the 3rd quarter. FMR LLC now owns 3,109,633 shares of the bank’s stock valued at $72,548,000 after acquiring an additional 241,838 shares during the period. Glenmede Trust Co. NA increased its stake in Regions Financial by 2.9% during the third quarter. Glenmede Trust Co. NA now owns 620,467 shares of the bank’s stock worth $14,475,000 after purchasing an additional 17,753 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Regions Financial by 102.7% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 755,100 shares of the bank’s stock valued at $17,616,000 after purchasing an additional 382,500 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

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.