Regions Financial Corp Rating Reiterated by Zacks (RF)
Regions Financial Corp (NYSE:RF)‘s stock had its “neutral” rating restated by Zacks in a research report issued on Thursday. They currently have a $11.00 target price on the stock. Zacks‘s price objective points to a potential upside of 3.68% from the company’s current price.
Zacks’ analyst wrote, “Regions Financial’s first-quarter 2014 earnings came ahead of the Zacks Consensus Estimate. However, it was below the prior-year quarter figure. Results benefited from increased net interest income and declining expenses. A strong capital position was among the other positives. Further, the announcement of the capital deployment activities following the Fed’s approval of the 2014 capital plan enhanced investors’ confidence in the stock. We believe that the company’s favorable funding mix, improved core business performance, expansion spree, and other strategic initiatives will yield profitable earnings in the coming quarters. Additionally, an improvement in its credit quality will be a catalyst. However, regulatory issues and a declining fee income remain matters of concern.”
Regions Financial Corp (NYSE:RF) traded down 1.12% during mid-day trading on Thursday, hitting $10.61. The stock had a trading volume of 11,706,404 shares. Regions Financial Corp has a 52 week low of $8.84 and a 52 week high of $11.54. The stock has a 50-day moving average of $10.27 and a 200-day moving average of $10.31. The company has a market cap of $14.631 billion and a P/E ratio of 14.17.
Regions Financial Corp (NYSE:RF) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.21 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.20 by $0.01. During the same quarter last year, the company posted $0.23 earnings per share. On average, analysts predict that Regions Financial Corp will post $0.86 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Stephens initiated coverage on shares of Regions Financial Corp in a research note on Tuesday. They set an “overweight” rating and a $12.50 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of Regions Financial Corp from $11.00 to $11.50 in a research note on Monday. Finally, analysts at Nomura initiated coverage on shares of Regions Financial Corp in a research note on Wednesday, May 14th. They set a “neutral” rating and a $11.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $11.03.
Regions Financial Corporation (NYSE:RF) is a financial holding company.
To view Zacks’ full report, visit Zacks’ official website.
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