Regions Financial (NYSE:RF) Given New $26.00 Price Target at Truist Financial

Regions Financial (NYSE:RF) had its price target hoisted by investment analysts at Truist Financial from $25.00 to $26.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the bank’s stock. Truist Financial’s price target suggests a potential upside of 9.11% from the company’s current price.

A number of other brokerages have also weighed in on RF. Jefferies Financial Group boosted their price objective on Regions Financial from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. StockNews.com lowered Regions Financial from a “hold” rating to a “sell” rating in a research report on Thursday. Morgan Stanley upped their price target on Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods reduced their price target on Regions Financial from $22.00 to $21.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Finally, Evercore ISI upped their price target on Regions Financial from $24.50 to $26.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $23.21.

Regions Financial Price Performance

Shares of Regions Financial stock traded up $0.01 during trading on Monday, reaching $23.83. 2,028,925 shares of the company’s stock were exchanged, compared to its average volume of 7,897,040. The company has a market cap of $21.82 billion, a P/E ratio of 12.95, a PEG ratio of 2.80 and a beta of 1.17. Regions Financial has a 1-year low of $13.72 and a 1-year high of $24.47. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.83. The firm’s 50-day moving average price is $22.65 and its 200 day moving average price is $20.89.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, October 18th. The bank reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. The business 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 12.64% and a net margin of 18.91%. Regions Financial’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS. As a group, research analysts anticipate that Regions Financial will post 2.02 earnings per share for the current year.

Hedge Funds Weigh In On Regions Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. grew its holdings in Regions Financial by 281.7% during the first quarter. Bessemer Group Inc. now owns 79,593 shares of the bank’s stock valued at $1,675,000 after purchasing an additional 58,739 shares during the period. UniSuper Management Pty Ltd grew its holdings in Regions Financial by 1,075.7% during the first quarter. UniSuper Management Pty Ltd now owns 44,781 shares of the bank’s stock valued at $942,000 after purchasing an additional 40,972 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in Regions Financial by 30.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 415,105 shares of the bank’s stock valued at $8,734,000 after purchasing an additional 98,003 shares during the period. Swedbank AB bought a new position in Regions Financial during the first quarter valued at $19,322,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in shares of Regions Financial in the first quarter worth $33,829,000. 79.39% of the stock is owned by 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.