Wells Fargo & Company Increases Regions Financial (NYSE:RF) Price Target to $28.00

Regions Financial (NYSE:RF) had its price objective upped by Wells Fargo & Company from $24.00 to $28.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 6.22% from the company’s previous close.

Other analysts also recently issued reports about the stock. The Goldman Sachs Group boosted their target price on shares of Regions Financial from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Royal Bank of Canada raised their price objective on Regions Financial from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Morgan Stanley boosted their target price on Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Evercore ISI upped their target price on Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Finally, Citigroup lifted their price target on Regions Financial from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Regions Financial currently has a consensus rating of “Moderate Buy” and an average target price of $26.18.

Regions Financial Stock Performance

Shares of NYSE RF opened at $26.36 on Friday. Regions Financial has a 1 year low of $15.79 and a 1 year high of $26.73. The firm has a market cap of $23.96 billion, a P/E ratio of 14.89, a PEG ratio of 2.76 and a beta of 1.16. The stock has a fifty day moving average price of $23.61 and a two-hundred day moving average price of $21.58. 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 (NYSE:RF) last announced its earnings results 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). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the business earned $0.49 EPS. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. Research analysts forecast that Regions Financial will post 2.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RF. State Street Corp boosted its holdings in Regions Financial by 16.3% in the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after purchasing an additional 7,791,399 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Regions Financial by 575.8% during the 3rd quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock worth $39,784,000 after acquiring an additional 1,452,956 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Regions Financial by 13.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock valued at $201,238,000 after acquiring an additional 1,014,706 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Regions Financial by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock worth $285,562,000 after purchasing an additional 979,597 shares during the last quarter. Finally, Swedbank AB bought a new stake in Regions Financial during the first quarter worth approximately $19,322,000. 79.39% of the stock is owned by institutional investors and hedge funds.

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.