Robert W. Baird Upgrades Regions Financial (NYSE:RF) to "Neutral"

Key Points

• Robert W. Baird upgraded Regions Financial from “underperform” to “neutral” and set a $28 price target, implying 1.74% downside from the prior close.
• Analyst sentiment remains broadly neutral: Regions Financial has a consensus “hold” rating from 20 analysts and an average price target of $32.29.
• Regions Financial exceeded quarterly expectations, reporting $0.68 in EPS versus the $0.63 consensus and $1.95 billion in revenue; institutional investors own 79.39% of its shares.

Regions Financial (NYSE:RF - Get Free Report) was upgraded by equities researchers at Robert W. Baird from an "underperform" rating to a "neutral" rating in a report released on Friday, Benzinga reports. The brokerage currently has a $28.00 price objective on the bank's stock. Robert W. Baird's price objective suggests a potential downside of 1.74% from the stock's previous close.

Several other research firms have also recently issued reports on RF. Cantor Fitzgerald upped their price target on shares of Regions Financial from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Tuesday, July 21st. Truist Financial raised their price objective on shares of Regions Financial from $30.00 to $34.00 and gave the stock a "hold" rating in a report on Tuesday, July 21st. Morgan Stanley boosted their target price on shares of Regions Financial from $35.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Tuesday, September 8th. Evercore restated an "underperform" rating and issued a $31.00 target price on shares of Regions Financial in a research note on Monday, July 6th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $32.00 price target on shares of Regions Financial in a research report on Friday, July 17th. Six investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $32.29.

Regions Financial Price Performance

Shares of NYSE RF opened at $28.50 on Friday. 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 has a fifty-two week low of $22.70 and a fifty-two week high of $32.47. The business has a 50 day moving average price of $30.77 and a two-hundred day moving average price of $28.82. The firm has a market cap of $24.28 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 1.16 and a beta of 0.99.

Regions Financial (NYSE:RF - Get Free Report) last announced its 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. 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 analyst estimates of $1.94 billion. During the same period in the prior year, the company posted $0.60 EPS. Regions Financial's quarterly revenue was up .1% on a year-over-year basis. Sell-side analysts expect that Regions Financial will post 2.63 earnings per share for the current fiscal year.

Institutional Trading of Regions Financial

Several institutional investors have recently added to or reduced their stakes in RF. Root Financial Partners LLC grew its holdings in Regions Financial by 3.9% during the 4th quarter. Root Financial Partners LLC now owns 9,148 shares of the bank's stock valued at $248,000 after buying an additional 346 shares in the last quarter. WPG Advisers LLC grew its position 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 acquiring an additional 370 shares in the last quarter. Master S Wealth Management Inc. grew its position in Regions Financial by 1.0% in the first quarter. Master S Wealth Management Inc. now owns 38,631 shares of the bank's stock worth $1,009,000 after acquiring an additional 372 shares in the last quarter. Legacy Wealth Managment LLC ID increased its stake in Regions Financial by 17.3% during the first quarter. Legacy Wealth Managment LLC ID now owns 2,589 shares of the bank's stock worth $68,000 after acquiring an additional 381 shares during the last quarter. Finally, Lcnb Corp increased its stake in Regions Financial by 3.8% during the fourth quarter. Lcnb Corp now owns 10,725 shares of the bank's stock worth $291,000 after acquiring an additional 390 shares during 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 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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