Truist Financial Issues Pessimistic Forecast for Regions Financial (NYSE:RF) Stock Price

Regions Financial (NYSE:RF) had its price target lowered by research analysts at Truist Financial from $29.00 to $28.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the bank’s stock. Truist Financial’s price objective points to a potential upside of 9.27% from the stock’s previous close.

Several other brokerages have also recently commented on RF. JPMorgan Chase & Co. raised their price target 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. Evercore lowered Regions Financial from an “in-line” rating to an “underperform” rating and upped their price objective for the stock from $27.00 to $29.00 in a research report on Tuesday, January 6th. Brean Capital started coverage on Regions Financial in a research note on Thursday, March 12th. They issued a “neutral” rating on the stock. UBS Group reiterated a “neutral” rating and issued a $30.00 target price on shares of Regions Financial in a report on Wednesday, February 4th. Finally, Barclays boosted their target price on Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, January 5th. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $29.91.

Regions Financial Stock Up 0.6%

Shares of NYSE:RF opened at $25.63 on Monday. 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 firm has a market capitalization of $22.13 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 0.90 and a beta of 1.02. The firm’s 50-day moving average is $28.13 and its two-hundred day moving average is $26.78. Regions Financial has a 1 year low of $17.74 and a 1 year high of $31.53.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.04). The business had revenue of $1.92 billion during 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%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 EPS. Analysts predict that Regions Financial will post 2.26 EPS for the current year.

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

Insider Activity

In other news, EVP William D. Ritter sold 36,000 shares of Regions Financial stock in a transaction on 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 sale, the executive vice president directly owned 17,569 shares of the company’s stock, valued at approximately $505,635.82. The trade was a 67.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

Institutional Trading of Regions Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Regions Financial by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,837,339 shares of the bank’s stock valued at $862,792,000 after acquiring an additional 215,061 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Regions Financial by 68.9% during the fourth quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock worth $618,860,000 after purchasing an additional 9,312,449 shares during the last quarter. Invesco Ltd. lifted its stake in Regions Financial by 3.1% during the fourth quarter. Invesco Ltd. now owns 19,348,237 shares of the bank’s stock worth $524,337,000 after purchasing an additional 573,659 shares during the last quarter. Morgan Stanley boosted its holdings in Regions Financial by 1.3% in the fourth quarter. Morgan Stanley now owns 18,356,400 shares of the bank’s stock valued at $497,459,000 after purchasing an additional 231,924 shares in the last quarter. Finally, Norges Bank acquired a new position in Regions Financial in the second quarter valued at approximately $246,790,000. 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.