Regions Financial (NYSE:RF) Given New $21.00 Price Target at Truist Financial

Regions Financial (NYSE:RF - Get Free Report) had its price objective cut by stock analysts at Truist Financial from $24.00 to $21.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "hold" rating on the bank's stock. Truist Financial's price target indicates a potential upside of 7.90% from the company's previous close.

Several other research firms also recently commented on RF. Stephens decreased their price objective on Regions Financial from $26.00 to $24.00 and set an "overweight" rating on the stock in a research note on Monday. JPMorgan Chase & Co. decreased their price objective on shares of Regions Financial from $26.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Morgan Stanley lowered their price objective on Regions Financial from $29.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Monday, April 7th. Wells Fargo & Company decreased their target price on Regions Financial from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Friday, March 28th. Finally, Citigroup lowered their target price on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $25.53.

Regions Financial Stock Performance

Regions Financial stock traded up $0.37 during mid-day trading on Tuesday, reaching $19.46. 3,239,098 shares of the stock traded hands, compared to its average volume of 8,120,173. The stock has a market capitalization of $17.62 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The business's 50-day moving average is $21.49 and its 200-day moving average is $23.54. Regions Financial has a 12-month low of $17.72 and a 12-month high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last announced its earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the business posted $0.37 earnings per share. As a group, sell-side analysts predict that Regions Financial will post 2.26 EPS for the current fiscal year.

Insider Transactions at Regions Financial

In related news, Director Joia M. Johnson bought 2,300 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were acquired at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the purchase, the director now directly owns 17,486 shares of the company's stock, valued at approximately $370,353.48. The trade was a 15.15 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have purchased 3,343 shares of company stock worth $74,348. Insiders own 0.29% of the company's stock.

Hedge Funds Weigh In On Regions Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in Regions Financial during the 4th quarter worth about $279,103,000. Invesco Ltd. increased its holdings in Regions Financial by 14.5% during the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank's stock valued at $363,823,000 after buying an additional 1,963,954 shares during the period. Deutsche Bank AG raised its stake in Regions Financial by 52.7% in the fourth quarter. Deutsche Bank AG now owns 5,522,612 shares of the bank's stock worth $129,892,000 after buying an additional 1,907,121 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Regions Financial by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank's stock worth $686,398,000 after buying an additional 1,396,647 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Regions Financial during the 4th quarter valued at $31,480,000. Institutional investors own 79.39% of the company's stock.

About Regions Financial

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.

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