Wells Fargo & Company Issues Pessimistic Forecast for Regions Financial (NYSE:RF) Stock Price

Regions Financial (NYSE:RF - Get Free Report) had its price target lowered by stock analysts at Wells Fargo & Company from $28.00 to $26.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the bank's stock. Wells Fargo & Company's target price would suggest a potential upside of 19.46% from the company's current price.

A number of other research firms also recently weighed in on RF. Barclays raised their price target on Regions Financial from $25.00 to $26.00 and gave the company an "underweight" rating in a research report on Monday, January 6th. Citigroup cut their target price on Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Compass Point lifted their price target on shares of Regions Financial from $25.00 to $31.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Truist Financial lowered their price objective on shares of Regions Financial from $26.00 to $24.00 and set a "hold" rating for the company in a report on Friday, March 21st. Finally, Piper Sandler increased their target price on shares of Regions Financial from $25.00 to $29.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Regions Financial has an average rating of "Moderate Buy" and an average target price of $27.17.

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Regions Financial Price Performance

Regions Financial stock traded up $0.35 during midday trading on Friday, reaching $21.77. 9,060,822 shares of the stock were exchanged, compared to its average volume of 7,802,565. The company's fifty day moving average is $23.25 and its 200-day moving average is $23.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial has a 52 week low of $17.72 and a 52 week high of $27.96. The firm has a market cap of $19.71 billion, a PE ratio of 11.22, a PEG ratio of 1.93 and a beta of 1.19.

Regions Financial (NYSE:RF - Get Free Report) last announced its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm posted $0.39 earnings per share. Regions Financial's quarterly revenue was up .2% on a year-over-year basis. On average, sell-side analysts forecast that Regions Financial will post 2.26 EPS for the current year.

Insider Transactions at Regions Financial

In other Regions Financial news, Director Joia M. Johnson bought 2,300 shares of Regions Financial stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $21.18 per share, with a total value of $48,714.00. Following the acquisition, the director now owns 17,486 shares in the company, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased a total of 3,868 shares of company stock valued at $86,722 in the last quarter. 0.29% of the stock is owned by insiders.

Institutional Investors Weigh In On Regions Financial

Several large investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Regions Financial in the 4th quarter worth approximately $279,103,000. State Street Corp raised its stake in Regions Financial by 16.3% during the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank's stock worth $1,306,813,000 after acquiring an additional 7,791,399 shares during the period. Invesco Ltd. lifted 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 purchasing an additional 1,963,954 shares in the last quarter. Deutsche Bank AG boosted its position in shares of 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 purchasing an additional 1,907,121 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of Regions Financial by 575.8% in the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank's stock worth $39,784,000 after purchasing an additional 1,452,956 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Company Profile

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.