Regions Financial (NYSE:RF) Stock Price Target Cut by JPMorgan Chase & Co.

Key Points

• JPMorgan cut Regions Financial’s price target from $32.00 to $30.50 while maintaining a “neutral” rating, implying 12.69% upside from the stock’s $27.07 price.
• Analyst sentiment remains mixed but leans toward “Hold”: six analysts rate the stock a Buy, eleven a Hold, and three a Sell, with a consensus price target of $31.97.
• Regions Financial exceeded quarterly expectations, reporting $0.68 in earnings per share versus a $0.63 consensus estimate and $1.95 billion in revenue versus $1.94 billion expected.

Regions Financial (NYSE:RF - Get Free Report) had its price objective decreased by equities researchers at JPMorgan Chase & Co. from $32.00 to $30.50 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a "neutral" rating on the bank's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 12.69% from the stock's current price.

Several other research firms have also issued reports on RF. DA Davidson raised their price target on shares of Regions Financial from $33.00 to $34.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. Weiss Ratings reiterated a "buy (b)" rating on shares of Regions Financial in a report on Friday, July 17th. Jefferies Financial Group reiterated a "hold" rating and issued a $32.00 target price on shares of Regions Financial in a report on Friday, July 17th. Keefe, Bruyette & Woods boosted their price target on shares of Regions Financial from $32.00 to $33.00 and gave the stock a "market perform" rating in a report on Monday, July 20th. Finally, Truist Financial cut their price objective on shares of Regions Financial from $34.00 to $31.00 and set a "hold" rating for the company in a report on Wednesday, September 23rd. Six 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. According to MarketBeat, Regions Financial has an average rating of "Hold" and a consensus target price of $31.97.

Regions Financial Stock Performance

Shares of Regions Financial stock traded up $0.10 on Friday, hitting $27.07. The stock had a trading volume of 3,756,402 shares, compared to its average volume of 11,542,692. Regions Financial has a twelve month low of $22.70 and a twelve month high of $32.47. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26. The stock has a market cap of $23.06 billion, a price-to-earnings ratio of 11.05, a price-to-earnings-growth ratio of 1.12 and a beta of 1.05. The business's 50 day moving average is $30.04 and its two-hundred day moving average is $28.87.

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

Institutional Trading of Regions Financial

A number of hedge funds and other institutional investors have recently modified their holdings of RF. WPG Advisers LLC grew its holdings in Regions Financial by 83.5% in the second quarter. WPG Advisers LLC now owns 813 shares of the bank's stock worth $25,000 after purchasing an additional 370 shares during the period. Keating Financial Advisory Services Inc. purchased a new position in shares of Regions Financial during the second quarter valued at approximately $25,000. Trust Co. of Vermont purchased a new position in shares of Regions Financial during the second quarter valued at approximately $26,000. Gables Capital Management Inc. bought a new stake in shares of Regions Financial in the 2nd quarter worth approximately $30,000. Finally, SouthState Bank Corp grew its stake in shares of Regions Financial by 94.1% in the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank's stock worth $30,000 after buying an additional 538 shares during the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

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, and institutions.

Regions offers a range of products and services, including checking and savings accounts, consumer and commercial loans, mortgages, credit cards, treasury and cash-management services, investment and wealth-management solutions, and capital-markets services.

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