Regions Financial (NYSE:RF) Price Target Cut to $35.00 by Analysts at Morgan Stanley

Key Points

• Morgan Stanley cut Regions Financial’s price target from $36 to $35 while maintaining an “equal weight” rating, implying approximately 27.8% upside from the stock’s $27.38 price.
• Analyst sentiment remains mixed but centers on a “Hold” consensus, with an average price target of $32.06 from 20 analysts.
• Regions Financial exceeded quarterly expectations, reporting $0.68 in EPS versus the $0.63 consensus and $1.95 billion in revenue versus $1.94 billion expected.

Regions Financial (NYSE:RF - Get Free Report) had its target price cut by equities research analysts at Morgan Stanley from $36.00 to $35.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an "equal weight" rating on the bank's stock. Morgan Stanley's target price would indicate a potential upside of 27.81% from the stock's current price.

RF has been the topic of a number of other research reports. JPMorgan Chase & Co. upped their price target on Regions Financial from $31.50 to $32.00 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Stephens began coverage on shares of Regions Financial in a research report on Monday, June 15th. They issued an "equal weight" rating and a $31.00 price objective for the company. Wells Fargo & Company upped their target price on Regions Financial from $28.00 to $30.00 and gave the company an "underweight" rating in a research note on Monday, July 6th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Regions Financial in a research note on Friday, July 17th. Finally, Robert W. Baird raised Regions Financial from an "underperform" rating to a "neutral" rating and set a $28.00 price objective on the stock in a research note on Friday, September 18th. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $32.06.

Regions Financial Stock Performance

NYSE RF traded down $0.24 during trading hours on Monday, hitting $27.38. 454,275 shares of the stock were exchanged, compared to its average volume of 11,522,443. Regions Financial has a 12-month low of $22.70 and a 12-month high of $32.47. The stock has a 50-day moving average of $30.35 and a 200 day moving average of $28.84. The company has a market cap of $23.33 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 1.13 and a beta of 0.99. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26.

Regions Financial (NYSE:RF - Get Free Report) last issued its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.05. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The company's revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 EPS. As a group, equities research analysts forecast that Regions Financial will post 2.63 earnings per share for the current year.

Institutional Trading of Regions Financial

A number of institutional investors and hedge funds have recently modified their holdings of the business. WPG Advisers LLC lifted its position in Regions Financial by 83.5% in the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank's stock valued at $25,000 after purchasing an additional 370 shares during the last quarter. Keating Financial Advisory Services Inc. bought a new stake in Regions Financial during the second quarter valued at about $25,000. Trust Co. of Vermont acquired a new stake in Regions Financial in the 2nd quarter valued at approximately $26,000. SouthState Bank Corp grew its stake in shares of Regions Financial by 94.1% in the fourth quarter. SouthState Bank Corp now owns 1,110 shares of the bank's stock worth $30,000 after acquiring an additional 538 shares during the last quarter. Finally, Gables Capital Management Inc. bought a new position in shares of Regions Financial during the 2nd quarter worth about $30,000. 79.39% of the stock is owned by institutional investors and hedge funds.

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 consumer, commercial and institutional customers.

Regions Bank offers checking and savings accounts, consumer loans, credit cards, mortgages, home equity products and other personal banking services. Its commercial and corporate offerings include business loans, treasury management, equipment financing, capital markets services and other solutions for companies, municipalities and institutions.

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