Regions Financial (NYSE:RF) Price Target Cut to $24.00 by Analysts at Stephens

Regions Financial (NYSE:RF) had its price objective decreased by equities research analysts at Stephens from $26.00 to $24.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the bank’s stock. Stephens’ price objective indicates a potential upside of 26.52% from the stock’s current price.

A number of other analysts have also weighed in on RF. Citigroup cut their target price on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. JPMorgan Chase & Co. reduced their price objective on shares of Regions Financial from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Wells Fargo & Company dropped their target price on Regions Financial from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. Barclays decreased their price target on Regions Financial from $26.00 to $24.00 and set an “underweight” rating for the company in a report on Monday. Finally, Morgan Stanley dropped their price objective on Regions Financial from $29.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, April 7th. 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.21.

Regions Financial Trading Down 1.8 %

Shares of NYSE RF traded down $0.34 during mid-day trading on Monday, reaching $18.97. 1,593,380 shares of the company’s stock were exchanged, compared to its average volume of 8,110,098. The company’s 50-day moving average is $21.59 and its 200-day moving average is $23.57. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market capitalization of $17.18 billion, a price-to-earnings ratio of 9.78, a PEG ratio of 1.93 and a beta of 1.01. Regions Financial has a 52-week low of $17.72 and a 52-week high of $27.96.

Regions Financial (NYSE:RF) last released its earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. During the same period in the previous year, the company posted $0.37 EPS. Analysts expect that Regions Financial will post 2.26 EPS for the current fiscal year.

Insider Activity

In other Regions Financial news, Director Joia M. Johnson bought 2,300 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price of $21.18 per share, with a total value of $48,714.00. Following the transaction, the director now owns 17,486 shares in the company, valued at $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders purchased 3,343 shares of company stock valued at $74,348 in the last ninety days. Company insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Regions Financial

A number of hedge funds have recently made changes to their positions in RF. Ballentine Partners LLC lifted its position in shares of Regions Financial by 2.5% during the fourth quarter. Ballentine Partners LLC now owns 17,458 shares of the bank’s stock worth $411,000 after purchasing an additional 420 shares in the last quarter. Prossimo Advisors LLC increased its position in shares of Regions Financial by 2.3% during the fourth quarter. Prossimo Advisors LLC now owns 19,270 shares of the bank’s stock worth $453,000 after acquiring an additional 430 shares during the last quarter. Greenleaf Trust lifted its stake in shares of Regions Financial by 1.8% in the fourth quarter. Greenleaf Trust now owns 24,382 shares of the bank’s stock worth $573,000 after acquiring an additional 436 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in shares of Regions Financial by 2.3% in the fourth quarter. Lake Street Advisors Group LLC now owns 19,173 shares of the bank’s stock worth $456,000 after acquiring an additional 436 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC grew its stake in Regions Financial by 0.8% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 70,822 shares of the bank’s stock valued at $1,666,000 after purchasing an additional 529 shares in the last quarter. Hedge funds and other institutional investors 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.