JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Regions Financial (NYSE:RF) Stock

Regions Financial (NYSE:RF) had its price target raised by research analysts at JPMorgan Chase & Co. from $29.00 to $31.50 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 2.14% from the stock’s current price.

A number of other equities research analysts have also issued reports on the company. UBS Group restated a “neutral” rating and issued a $30.00 price target on shares of Regions Financial in a research report on Wednesday, February 4th. Barclays boosted their price objective on Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, January 5th. Piper Sandler raised their target price on Regions Financial from $29.00 to $31.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 20th. Wall Street Zen lowered Regions Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Finally, Stephens reissued an “equal weight” rating and set a $27.00 price target (down previously from $30.00) on shares of Regions Financial in a research report on Tuesday, October 14th. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $29.84.

Regions Financial Price Performance

Regions Financial stock opened at $30.84 on Monday. The company has a fifty day simple moving average of $28.06 and a 200-day simple moving average of $26.45. The firm has a market capitalization of $27.04 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.09 and a beta of 1.04. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. Regions Financial has a 52-week low of $17.74 and a 52-week high of $31.17.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, January 16th. The bank reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the firm posted $0.56 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. On average, equities analysts anticipate that Regions Financial will post 2.26 EPS for the current fiscal year.

Regions Financial announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 10th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 12.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the completion of the transaction, the executive vice president owned 17,569 shares of the company’s stock, valued at $505,635.82. This trade represents a 67.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Regions Financial

Large investors have recently made changes to their positions in the stock. Root Financial Partners LLC raised its position in Regions Financial by 3.9% in the fourth quarter. Root Financial Partners LLC now owns 9,148 shares of the bank’s stock valued at $248,000 after purchasing an additional 346 shares during the period. Centaurus Financial Inc. boosted its position in shares of Regions Financial by 3.9% during the second quarter. Centaurus Financial Inc. now owns 10,230 shares of the bank’s stock worth $241,000 after buying an additional 382 shares during the period. Lcnb Corp grew its stake in shares of Regions Financial by 3.8% in the fourth quarter. Lcnb Corp now owns 10,725 shares of the bank’s stock valued at $291,000 after buying an additional 390 shares in the last quarter. West Paces Advisors Inc. raised its holdings in shares of Regions Financial by 4.0% in the 4th quarter. West Paces Advisors Inc. now owns 10,505 shares of the bank’s stock valued at $285,000 after buying an additional 405 shares during the period. Finally, Park Avenue Securities LLC lifted its stake in Regions Financial by 0.6% during the 4th quarter. Park Avenue Securities LLC now owns 79,012 shares of the bank’s stock worth $2,141,000 after acquiring an additional 443 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

About Regions Financial

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.