Citigroup Issues Pessimistic Forecast for Regions Financial (NYSE:RF) Stock Price

by · The Cerbat Gem

Regions Financial (NYSE:RF – Get Free Report) had its price target lowered by Citigroup from $36.00 to $32.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. Citigroup’s target price points to a potential upside of 14.06% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Evercore restated an “underperform” rating and issued a $31.00 price target on shares of Regions Financial in a research note on Monday, July 6th. Morgan Stanley lowered their price objective on shares of Regions Financial from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Monday, September 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Regions Financial in a research note on Thursday, October 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $32.00 target price on shares of Regions Financial in a research report on Wednesday. Finally, Royal Bank Of Canada cut their target price on shares of Regions Financial from $34.00 to $32.00 and set an “outperform” rating on the stock in a research report on Monday. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $31.12.

Read Our Latest Research Report on RF

Regions Financial Price Performance

Shares of RF stock traded up $0.20 during trading hours on Wednesday, reaching $28.05. The company’s stock had a trading volume of 5,391,291 shares, compared to its average volume of 11,609,918. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.36. Regions Financial has a fifty-two week low of $23.59 and a fifty-two week high of $32.47. The company has a market capitalization of $23.90 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 1.11 and a beta of 1.05. The firm’s 50 day simple moving average is $28.97 and its 200-day simple moving average is $29.02.

Regions Financial (NYSE:RF – Get Free Report) last released its quarterly earnings data on Friday, October 16th. The bank reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.06. Regions Financial had a return on equity of 13.43% and a net margin of 23.97%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period last year, the firm posted $0.63 earnings per share. Regions Financial’s revenue was up 3.0% compared to the same quarter last year. Sell-side analysts forecast that Regions Financial will post 2.66 earnings per share for the current year.

Institutional Investors Weigh In On Regions Financial

A number of institutional investors have recently made changes to their positions in RF. State Street Corp raised its position in shares of Regions Financial by 6.2% during the second quarter. State Street Corp now owns 50,667,092 shares of the bank’s stock worth $1,543,092,000 after acquiring an additional 2,953,594 shares during the last quarter. First Trust Advisors LP boosted its holdings in Regions Financial by 75.7% in the first quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock valued at $348,936,000 after acquiring an additional 5,754,487 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Regions Financial by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 9,827,358 shares of the bank’s stock valued at $256,633,000 after acquiring an additional 140,398 shares during the last quarter. Nykredit A S bought a new stake in Regions Financial in the second quarter valued at approximately $236,756,000. Finally, Bank of America Corp DE acquired a new stake in Regions Financial during the 2nd quarter valued at approximately $219,068,000. Institutional investors own 79.39% of the company’s stock.

About Regions Financial

(Get Free Report)

Regions Financial Corporation (NYSE: RF) is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumers, businesses, institutions and governments.

Regions Bank offers checking and savings accounts, consumer and commercial loans, credit products, mortgages, treasury and cash-management services, investment and wealth-management solutions, and insurance-related services.

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