Regions Financial (NYSE:RF) Price Target Lowered to $24.00 at Barclays

by · The Cerbat Gem

Regions Financial (NYSE:RF – Get Free Report) had its price objective lowered by equities research analysts at Barclays from $26.00 to $24.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the bank’s stock. Barclays‘s price target would indicate a potential upside of 26.55% from the company’s current price.

Several other brokerages have also recently weighed in on RF. Morgan Stanley reduced their price target on shares of Regions Financial from $29.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, April 7th. Citigroup lowered their price objective on Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Wells Fargo & Company cut their price objective 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. JPMorgan Chase & Co. reduced their price target on shares of Regions Financial from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Finally, Truist Financial cut their price objective on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.32.

View Our Latest Analysis on Regions Financial

Regions Financial Price Performance

Shares of NYSE RF traded down $0.35 during mid-day trading on Monday, reaching $18.97. The company’s stock had a trading volume of 1,358,959 shares, compared to its average volume of 8,109,547. The stock has a fifty day moving average of $21.59 and a two-hundred day moving average of $23.57. The firm has a market capitalization of $17.17 billion, a PE ratio of 9.78, a P/E/G 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. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF – Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the firm posted $0.37 EPS. As a group, sell-side analysts anticipate that Regions Financial will post 2.26 EPS for the current fiscal year.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, Director Joia M. Johnson acquired 2,300 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the acquisition, the director now owns 17,486 shares in the company, valued at approximately $370,353.48. The trade was a 15.15 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have bought 3,343 shares of company stock worth $74,348. Corporate insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Regions Financial

A number of large investors have recently made changes to their positions in the stock. Y.D. More Investments Ltd boosted its position in shares of Regions Financial by 122.9% during the 4th quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank’s stock valued at $27,000 after acquiring an additional 634 shares during the last quarter. Sierra Ocean LLC acquired a new stake in shares of Regions Financial during the 4th quarter worth approximately $28,000. Picton Mahoney Asset Management raised its position in shares of Regions Financial by 2,354.9% during the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank’s stock valued at $29,000 after buying an additional 1,201 shares during the period. Millstone Evans Group LLC purchased a new position in Regions Financial in the fourth quarter worth approximately $32,000. Finally, Grove Bank & Trust increased its stake in Regions Financial by 76.6% during the first quarter. Grove Bank & Trust now owns 1,876 shares of the bank’s stock worth $41,000 after acquiring an additional 814 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

About Regions Financial

(Get Free Report)

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.

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