Regions Financial (NYSE:RF) Stock Price Target Lowered at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald lowered Regions Financial’s price target from $35 to $32 while maintaining an “overweight” rating, implying 18.49% potential upside from the prior close.
• Analyst sentiment remains mixed: MarketBeat reports an average rating of “Hold” and an average price target of $31.53, based on five Buy, twelve Hold, and three Sell ratings.
• Regions Financial opened at $27.01, and the bank recently exceeded quarterly earnings expectations with EPS of $0.68 versus the $0.63 consensus estimate; institutional investors own 79.39% of its shares.

Regions Financial (NYSE:RF - Get Free Report) had its price target reduced by equities researchers at Cantor Fitzgerald from $35.00 to $32.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an "overweight" rating on the bank's stock. Cantor Fitzgerald's price target indicates a potential upside of 18.49% from the company's previous close.

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Regions Financial from $32.00 to $30.50 and set a "neutral" rating for the company in a report on Friday, October 2nd. Wall Street Zen upgraded Regions Financial from a "sell" rating to a "hold" rating in a research note on Saturday, September 19th. Truist Financial decreased their price objective on Regions Financial from $34.00 to $31.00 and set a "hold" rating for the company in a report on Wednesday, September 23rd. Citigroup upped their price objective on shares of Regions Financial from $32.00 to $36.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Finally, Morgan Stanley lowered their price objective on shares of Regions Financial from $36.00 to $35.00 and set an "equal weight" rating for the company in a research note on Monday, September 28th. Five research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, Regions Financial presently has an average rating of "Hold" and an average target price of $31.53.

Regions Financial Stock Performance

Regions Financial stock opened at $27.01 on Wednesday. The company has a 50 day moving average price of $29.38 and a 200-day moving average price of $28.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. Regions Financial has a fifty-two week low of $22.70 and a fifty-two week high of $32.47. The company has a market capitalization of $23.01 billion, a PE ratio of 10.95, a P/E/G ratio of 1.13 and a beta of 1.05.

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

Institutional Trading of Regions Financial

Several hedge funds and other institutional investors have recently bought and sold shares of RF. Eastern Bank increased its holdings in shares of Regions Financial by 30.7% in the 3rd quarter. Eastern Bank now owns 3,839 shares of the bank's stock valued at $103,000 after acquiring an additional 901 shares during the period. Rockland Trust Co. lifted its stake 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 purchasing an additional 1,829 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of Regions Financial by 13.1% during the 2nd quarter. QRG Capital Management Inc. now owns 144,105 shares of the bank's stock worth $4,352,000 after purchasing an additional 16,681 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Regions Financial by 12.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 733,501 shares of the bank's stock valued at $22,152,000 after purchasing an additional 80,181 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Regions Financial by 433.7% during the second quarter. Envestnet Asset Management Inc. now owns 2,129,927 shares of the bank's stock valued at $64,324,000 after purchasing an additional 1,730,874 shares in the last quarter. 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, 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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