Regions Financial (NYSE:RF) Earns “Market Perform” Rating from Keefe, Bruyette & Woods

Regions Financial (NYSE:RF)‘s stock had its “market perform” rating reissued by investment analysts at Keefe, Bruyette & Woods in a research note issued on Tuesday, MarketBeat reports. They currently have a $31.00 price objective on the bank’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 8.20% from the stock’s current price.

Several other equities analysts have also commented on RF. Piper Sandler increased their price target on shares of Regions Financial from $29.00 to $31.00 and gave the company a “neutral” rating in a research note on Tuesday. Wells Fargo & Company cut shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 target price for the company. in a report on Friday, January 16th. Citigroup increased their target price on shares of Regions Financial from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Morgan Stanley set a $31.00 price target on shares of Regions Financial in a research report on Monday. Finally, Truist Financial upped their price objective on shares of Regions Financial from $26.00 to $29.00 and gave the company a “hold” rating in a research note on Monday, December 22nd. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $29.27.

Regions Financial Stock Up 3.7%

Regions Financial stock opened at $28.65 on Tuesday. The stock has a market cap of $25.12 billion, a PE ratio of 12.51, a P/E/G ratio of 0.98 and a beta of 1.03. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. The stock’s fifty day moving average is $26.87 and its two-hundred day moving average is $26.05. Regions Financial has a 1-year low of $17.74 and a 1-year high of $29.25.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.04). Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the company posted $0.56 earnings per share. The company’s revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts expect that Regions Financial will post 2.26 EPS for the current fiscal year.

Regions Financial announced that its Board of Directors has approved a share repurchase plan on Wednesday, December 10th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the bank to repurchase up to 12.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Regions Financial

Several institutional investors have recently added to or reduced their stakes in RF. Norges Bank purchased a new position in Regions Financial during the second quarter worth about $246,790,000. Victory Capital Management Inc. boosted its holdings in Regions Financial by 52.9% in the 3rd quarter. Victory Capital Management Inc. now owns 13,523,714 shares of the bank’s stock valued at $357,417,000 after purchasing an additional 4,679,285 shares in the last quarter. Qube Research & Technologies Ltd increased its position in Regions Financial by 286.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank’s stock worth $106,061,000 after purchasing an additional 2,980,505 shares during the period. AQR Capital Management LLC increased its position in Regions Financial by 151.2% during the 3rd quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank’s stock worth $103,886,000 after purchasing an additional 2,371,048 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Regions Financial by 620.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,563,492 shares of the bank’s stock worth $60,293,000 after buying an additional 2,207,585 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Company Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.