Truist Financial Lowers Regions Financial (NYSE:RF) Price Target to $24.00

Regions Financial (NYSE:RF - Get Free Report) had its target price cut by Truist Financial from $26.00 to $24.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "hold" rating on the bank's stock. Truist Financial's price objective suggests a potential upside of 8.45% from the stock's current price.

Other analysts have also recently issued reports about the company. Citigroup reduced their price target on Regions Financial from $30.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. The Goldman Sachs Group boosted their target price on shares of Regions Financial from $29.00 to $33.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Barclays increased their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company an "underweight" rating in a report on Monday, January 6th. Morgan Stanley reissued an "equal weight" rating and set a $32.00 price objective (up previously from $28.00) on shares of Regions Financial in a report on Monday, December 9th. 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 equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Regions Financial has a consensus rating of "Moderate Buy" and a consensus price target of $27.28.

Remove Ads

Regions Financial Stock Performance

RF traded up $0.42 during trading on Friday, hitting $22.13. The stock had a trading volume of 1,354,706 shares, compared to its average volume of 8,724,868. The firm has a market capitalization of $20.04 billion, a P/E ratio of 11.41, a PEG ratio of 1.93 and a beta of 1.19. 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 twelve month low of $17.72 and a twelve month high of $27.96. The company's 50-day moving average price is $23.46 and its 200 day moving average price is $23.96.

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

Insider Buying and Selling

In related news, Director Joia M. Johnson acquired 2,300 shares of the stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $21.18 per share, with a total value 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. This represents a 15.15 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have acquired 3,993 shares of company stock worth $89,682. 0.29% of the stock is owned by company insiders.

Institutional Investors Weigh In On Regions Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Y.D. More Investments Ltd increased its position in Regions Financial by 122.9% during the 4th quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank's stock worth $27,000 after purchasing an additional 634 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Regions Financial during the fourth quarter worth approximately $28,000. Picton Mahoney Asset Management increased its position in shares of Regions Financial by 2,354.9% in the fourth quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank's stock worth $29,000 after acquiring an additional 1,201 shares in the last quarter. Millstone Evans Group LLC purchased a new position in shares of Regions Financial in the 4th quarter valued at $32,000. Finally, Truvestments Capital LLC acquired a new position in shares of Regions Financial during the 3rd quarter valued at $37,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

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.