Cantor Fitzgerald Reiterates Overweight Rating for Regions Financial (NYSE:RF)

Regions Financial (NYSE:RF)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $32.00 target price on the bank’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 14.90% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. Barclays boosted their target price on shares of Regions Financial from $27.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, January 5th. JPMorgan Chase & Co. boosted their price objective on shares of Regions Financial from $29.00 to $31.50 and gave the company a “neutral” rating in a research report on Monday, February 9th. Truist Financial upped their target price on shares of Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a research note on Monday, December 22nd. Morgan Stanley set a $31.00 target price on shares of Regions Financial in a research report on Monday, January 19th. Finally, Wells Fargo & Company lowered Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price target for the company. in a report on Friday, January 16th. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $29.97.

Regions Financial Trading Up 0.4%

RF opened at $27.85 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. The stock’s 50 day moving average price is $28.70 and its 200-day moving average price is $26.87. Regions Financial has a one year low of $17.74 and a one year high of $31.53. The stock has a market cap of $24.05 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 0.98 and a beta of 1.02.

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

Regions Financial declared that its Board of Directors has initiated a stock buyback plan on Wednesday, December 10th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the bank to purchase up to 12.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Darwin Wealth Management LLC purchased a new position in Regions Financial in the second quarter valued at about $25,000. United Community Bank purchased a new stake in shares of Regions Financial during the third quarter valued at about $30,000. SouthState Bank Corp boosted its holdings in shares of Regions Financial by 94.1% in the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock valued at $30,000 after buying an additional 538 shares in the last quarter. Salomon & Ludwin LLC purchased a new position in shares of Regions Financial in the 3rd quarter worth approximately $32,000. Finally, Spire Wealth Management grew its position in shares of Regions Financial by 91.5% in the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock worth $32,000 after buying an additional 557 shares during the last quarter. 79.39% of the stock is owned by institutional investors.

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.