Regions Financial (NYSE:RF) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan raised Regions Financial’s price target from $30.50 to $31.00 while maintaining a neutral rating, implying 8.43% potential upside from the prior close.
• Analyst sentiment remains mixed but centers on a “Hold” consensus, with seven Buy, ten Hold, and three Sell ratings and an average target price of $31.00.
• Regions Financial shares fell 1.0% to $28.59, while the bank’s latest quarterly results exceeded expectations with EPS of $0.73 versus the $0.67 consensus estimate and revenue of $1.99 billion.

Regions Financial (NYSE:RF - Get Free Report) had its price objective hoisted by JPMorgan Chase & Co. from $30.50 to $31.00 in a research note issued on Friday, Benzinga reports. The firm presently has a "neutral" rating on the bank's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 8.43% from the company's previous close.

RF has been the subject of a number of other reports. Morgan Stanley decreased their price target on Regions Financial from $36.00 to $35.00 and set an "equal weight" rating for the company in a report on Monday, September 28th. Robert W. Baird raised Regions Financial from an "underperform" rating to a "neutral" rating and set a $28.00 price objective for the company in a research note on Friday, September 18th. Evercore reaffirmed an "underperform" rating and set a $28.00 target price on shares of Regions Financial in a report on Tuesday. Keefe, Bruyette & Woods raised their price target on Regions Financial from $32.00 to $33.00 and gave the stock a "market perform" rating in a research report on Monday, July 20th. Finally, Citigroup dropped their price target on shares of Regions Financial from $36.00 to $32.00 and set a "buy" rating on the stock in a research note on Wednesday, October 21st. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $31.00.

Regions Financial Trading Down 1.0%

NYSE:RF traded down $0.29 during mid-day trading on Friday, reaching $28.59. The company's stock had a trading volume of 11,753,311 shares, compared to its average volume of 11,580,916. The company's fifty day simple moving average is $28.56 and its two-hundred day simple moving average is $28.68. Regions Financial has a twelve month low of $23.59 and a twelve month high of $32.47. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.82 and a quick ratio of 0.81. The stock has a market cap of $24.36 billion, a P/E ratio of 11.21, a P/E/G ratio of 1.15 and a beta of 1.05.

Regions Financial (NYSE:RF - Get Free Report) last released its earnings results on Friday, October 16th. The bank reported $0.73 EPS for the quarter, beating the consensus estimate of $0.67 by $0.06. Regions Financial had a net margin of 23.97% and a return on equity of 13.43%. The firm had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.99 billion. During the same quarter last year, the company earned $0.63 EPS. Regions Financial's quarterly revenue was up 3.0% on a year-over-year basis. On average, equities analysts predict that Regions Financial will post 2.70 EPS for the current year.

Hedge Funds Weigh In On Regions Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RF. Rakuten Investment Management Inc. lifted its position in Regions Financial by 9.6% during the 3rd quarter. Rakuten Investment Management Inc. now owns 153,005 shares of the bank's stock worth $4,114,000 after acquiring an additional 13,372 shares in the last quarter. Provenance Wealth Advisors LLC boosted its position in shares of Regions Financial by 103.5% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 1,813 shares of the bank's stock valued at $49,000 after acquiring an additional 922 shares in the last quarter. Welch Group LLC increased its position in Regions Financial by 1.9% in the 3rd quarter. Welch Group LLC now owns 153,064 shares of the bank's stock valued at $4,114,000 after acquiring an additional 2,794 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Regions Financial in the third quarter valued at about $27,959,000. Finally, Profund Advisors LLC raised its holdings in Regions Financial by 3.6% during the 3rd quarter. Profund Advisors LLC now owns 11,044 shares of the bank's stock worth $297,000 after buying an additional 380 shares during the period. Hedge funds and other institutional investors own 79.39% of the company's stock.

Regions Financial Company Profile

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.

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