Regions Financial (NYSE:RF) Price Target Cut to $30.00 by Analysts at Stephens

Key Points

• Stephens cut Regions Financial’s price target from $32 to $30 while maintaining an “equal weight” rating, implying 8.66% upside from the prior close.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $31.55 after several firms recently lowered their targets.
• Regions Financial exceeded quarterly earnings expectations, reporting $0.73 in EPS versus the $0.66 consensus, while revenue rose 3% year over year to $1.99 billion.

Regions Financial (NYSE:RF - Get Free Report) had its price objective cut by stock analysts at Stephens from $32.00 to $30.00 in a research report issued on Monday, Benzinga reports. The firm presently has an "equal weight" rating on the bank's stock. Stephens' price target would indicate a potential upside of 8.66% from the company's previous close.

Several other equities research analysts have also commented on the company. Cantor Fitzgerald dropped their price target on Regions Financial from $35.00 to $32.00 and set an "overweight" rating for the company in a research note on Wednesday, October 14th. UBS Group reduced their price objective on Regions Financial from $33.00 to $30.00 and set a "neutral" rating on the stock in a research note on Monday, October 5th. Truist Financial decreased their target price on Regions Financial from $34.00 to $31.00 and set a "hold" rating for the company in a report on Wednesday, September 23rd. TD Cowen initiated coverage on shares of Regions Financial in a research report on Thursday, October 8th. They set a "hold" rating and a $30.00 target price for the company. Finally, DA Davidson increased their target price on shares of Regions Financial from $33.00 to $34.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Six research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $31.55.

Regions Financial Stock Up 0.6%

Shares of RF opened at $27.61 on Monday. Regions Financial has a fifty-two week low of $23.59 and a fifty-two week high of $32.47. The company's fifty day moving average is $29.12 and its two-hundred day moving average is $29.00. The firm has a market cap of $23.52 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 1.13 and a beta of 1.05. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.36.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings data on Friday, October 16th. The bank reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.07. Regions Financial had a return on equity of 13.43% and a net margin of 23.97%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the prior year, the firm posted $0.63 EPS. The business's revenue for the quarter was up 3.0% on a year-over-year basis. Analysts forecast that Regions Financial will post 2.63 earnings per share for the current year.

Institutional Investors Weigh In On Regions Financial

A number of large investors have recently modified their holdings of RF. First Bank & Trust increased its position in Regions Financial by 423.4% in the 3rd quarter. First Bank & Trust now owns 67,686 shares of the bank's stock valued at $1,819,000 after acquiring an additional 54,755 shares during the period. V Square Quantitative Management LLC raised its stake in shares of Regions Financial by 5.8% during the third quarter. V Square Quantitative Management LLC now owns 35,424 shares of the bank's stock valued at $952,000 after purchasing an additional 1,947 shares in the last quarter. Eastern Bank raised its stake in shares of Regions Financial by 30.7% during the third quarter. Eastern Bank now owns 3,839 shares of the bank's stock valued at $103,000 after purchasing an additional 901 shares in the last quarter. Rockland Trust Co. raised its position in shares of Regions Financial by 3.8% during the 3rd quarter. Rockland Trust Co. now owns 50,142 shares of the bank's stock worth $1,348,000 after buying an additional 1,829 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in Regions Financial by 13.1% during the 2nd quarter. QRG Capital Management Inc. now owns 144,105 shares of the bank's stock valued at $4,352,000 after purchasing an additional 16,681 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

About Regions Financial

Regions Financial Corporation NYSE: RF is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumers, businesses, institutions and governments.

Regions Bank offers checking and savings accounts, consumer and commercial loans, credit products, mortgages, treasury and cash-management services, investment and wealth-management solutions, and insurance-related services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.