Regions Financial (NYSE:RF) Given New $28.00 Price Target at Wells Fargo & Company

Regions Financial (NYSE:RF - Get Free Report) had its price objective raised by stock analysts at Wells Fargo & Company from $24.00 to $28.00 in a report issued on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the bank's stock. Wells Fargo & Company's price target would indicate a potential upside of 6.22% from the stock's current price.

A number of other research analysts have also recently commented on the company. Stephens upgraded Regions Financial from an "equal weight" rating to an "overweight" rating and set a $26.00 price target on the stock in a research note on Tuesday, October 29th. Morgan Stanley upped their price target on Regions Financial from $25.00 to $28.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 30th. Truist Financial upped their price target on Regions Financial from $25.00 to $26.00 and gave the stock a "hold" rating in a research note on Monday, October 21st. Royal Bank of Canada upped their price target on Regions Financial from $21.00 to $23.00 and gave the stock an "outperform" rating in a research note on Monday, July 22nd. Finally, Argus upgraded Regions Financial from a "hold" rating to a "buy" rating and set a $26.00 price target on the stock in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $26.18.

Regions Financial Trading Up 0.3 %

Regions Financial stock traded up $0.09 during mid-day trading on Friday, hitting $26.36. The company's stock had a trading volume of 9,270,683 shares, compared to its average volume of 7,954,415. The firm has a market capitalization of $23.96 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 2.73 and a beta of 1.16. Regions Financial has a 1 year low of $15.79 and a 1 year high of $26.73. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. The stock's fifty day moving average is $23.53 and its two-hundred day moving average is $21.53.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). The business had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. The company's revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.49 earnings per share. On average, analysts anticipate that Regions Financial will post 2.1 EPS for the current year.

Hedge Funds Weigh In On Regions Financial

Hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its holdings in shares of Regions Financial by 2.6% during the third quarter. Public Employees Retirement System of Ohio now owns 359,381 shares of the bank's stock worth $8,384,000 after buying an additional 9,047 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Regions Financial by 1.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 274,779 shares of the bank's stock worth $6,411,000 after buying an additional 2,751 shares during the last quarter. MML Investors Services LLC lifted its position in Regions Financial by 7.7% in the third quarter. MML Investors Services LLC now owns 71,669 shares of the bank's stock valued at $1,672,000 after purchasing an additional 5,101 shares during the period. Legacy Wealth Managment LLC ID acquired a new stake in Regions Financial in the third quarter valued at about $37,000. Finally, Orion Portfolio Solutions LLC acquired a new stake in Regions Financial in the third quarter valued at about $210,000. Hedge funds and other 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.