Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Regions Financial (NYSE:RF) Stock

Regions Financial (NYSE:RF) had its price target hoisted by Keefe, Bruyette & Woods from $32.00 to $33.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 7.06% from the company’s previous close.

A number of other research analysts have also weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Regions Financial in a report on Friday. DA Davidson cut shares of Regions Financial from a “buy” rating to a “neutral” rating and reduced their target price for the company from $35.00 to $33.00 in a research report on Monday, July 6th. Citigroup raised their price target on shares of Regions Financial from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday. Robert W. Baird reissued an “underperform” rating and issued a $28.00 price target on shares of Regions Financial in a research note on Monday, July 6th. Finally, Morgan Stanley boosted their price target on shares of Regions Financial from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Regions Financial has a consensus rating of “Hold” and an average target price of $32.21.

Regions Financial Trading Down 0.9%

Shares of Regions Financial stock opened at $30.82 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. Regions Financial has a twelve month low of $22.70 and a twelve month high of $32.47. The firm has a market capitalization of $26.31 billion, a PE ratio of 12.58, a P/E/G ratio of 1.20 and a beta of 1.00. The firm’s 50-day moving average price is $29.11 and its 200 day moving average price is $28.30.

Regions Financial (NYSE:RF) last posted its quarterly earnings data on Friday, July 17th. The bank reported $0.68 EPS for the quarter, topping the consensus estimate of $0.63 by $0.05. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the business earned $0.60 EPS. Regions Financial’s quarterly revenue was up .1% on a year-over-year basis. On average, sell-side analysts predict that Regions Financial will post 2.61 EPS for the current fiscal year.

Insider Activity

In other news, EVP Brian R. Willman sold 7,014 shares of Regions Financial stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On Regions Financial

A number of hedge funds have recently modified their holdings of the company. Empowered Funds LLC boosted its holdings in Regions Financial by 7.2% in the 1st quarter. Empowered Funds LLC now owns 19,152 shares of the bank’s stock valued at $416,000 after purchasing an additional 1,278 shares during the last quarter. Woodline Partners LP increased its holdings in shares of Regions Financial by 40.7% during the 1st quarter. Woodline Partners LP now owns 76,797 shares of the bank’s stock worth $1,669,000 after buying an additional 22,216 shares during the last quarter. Baird Financial Group Inc. raised its position in shares of Regions Financial by 0.7% during the 2nd quarter. Baird Financial Group Inc. now owns 71,717 shares of the bank’s stock valued at $1,687,000 after buying an additional 511 shares during the period. Federated Hermes Inc. raised its position in shares of Regions Financial by 81.2% during the 2nd quarter. Federated Hermes Inc. now owns 11,677 shares of the bank’s stock valued at $275,000 after buying an additional 5,233 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in Regions Financial by 5.0% in the second quarter. Daiwa Securities Group Inc. now owns 141,155 shares of the bank’s stock valued at $3,320,000 after acquiring an additional 6,690 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

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.