Regions Financial (NYSE:RF) Stock Price Expected to Rise, Citigroup Analyst Says

Regions Financial (NYSE:RF) had its target price increased by analysts at Citigroup from $26.00 to $30.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. Citigroup’s price objective indicates a potential upside of 12.61% from the company’s current price.

RF has been the subject of several other research reports. DA Davidson boosted their target price on shares of Regions Financial from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, October 21st. The Goldman Sachs Group boosted their price objective on shares of Regions Financial from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Wells Fargo & Company upped their target price on Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. Barclays raised their target price on Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a research note on Monday, October 21st. Finally, Keefe, Bruyette & Woods upgraded shares of 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.41.

Regions Financial Stock Up 1.4 %

NYSE:RF traded up $0.38 on Thursday, reaching $26.64. The stock had a trading volume of 1,195,870 shares, compared to its average volume of 7,903,937. Regions Financial has a 12-month low of $15.79 and a 12-month high of $26.73. The stock has a market cap of $24.21 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 2.72 and a beta of 1.16. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $23.85 and a 200 day moving average of $21.74.

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). Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the business earned $0.49 earnings per share. Regions Financial’s revenue was down 3.7% on a year-over-year basis. On average, research analysts predict that Regions Financial will post 2.12 earnings per share for the current year.

Hedge Funds Weigh In On Regions Financial

A number of hedge funds have recently modified their holdings of the stock. State Street Corp increased its stake in Regions Financial by 16.3% in the 3rd 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. Charles Schwab Investment Management Inc. increased its position in shares of Regions Financial by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock worth $648,269,000 after acquiring an additional 816,226 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Regions Financial by 1.4% during the third quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock valued at $526,118,000 after acquiring an additional 315,605 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Regions Financial by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after acquiring an additional 979,597 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Regions Financial by 13.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock worth $201,238,000 after purchasing an additional 1,014,706 shares during the period. 79.39% of the stock is currently 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.