Barclays Cuts Regions Financial (NYSE:RF) Price Target to $24.00

Regions Financial (NYSE:RF - Get Free Report) had its price objective cut by research analysts at Barclays from $26.00 to $24.00 in a research note issued on Monday,Benzinga reports. The firm currently has an "underweight" rating on the bank's stock. Barclays's price target would suggest a potential upside of 18.34% from the stock's previous close.

RF has been the subject of a number of other research reports. Truist Financial decreased their price target on Regions Financial from $26.00 to $24.00 and set a "hold" rating for the company in a report on Friday, March 21st. JPMorgan Chase & Co. decreased their target price on shares of Regions Financial from $26.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Wells Fargo & Company dropped their price target on shares of Regions Financial from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Friday, March 28th. Citigroup decreased their price objective on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Finally, Morgan Stanley dropped their target price on Regions Financial from $29.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Regions Financial has an average rating of "Moderate Buy" and an average price target of $25.53.

Regions Financial Trading Down 1.3 %

Shares of RF traded down $0.26 on Monday, hitting $20.28. 6,572,572 shares of the stock traded hands, compared to its average volume of 8,107,545. Regions Financial has a 1 year low of $17.72 and a 1 year high of $27.96. The stock's 50 day moving average is $21.16 and its two-hundred day moving average is $23.46. The firm has a market capitalization of $18.36 billion, a P/E ratio of 10.45, a P/E/G ratio of 1.93 and a beta of 1.01. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37.

Regions Financial (NYSE:RF - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. During the same quarter in the prior year, the company posted $0.37 EPS. As a group, sell-side analysts predict that Regions Financial will post 2.26 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Joia M. Johnson purchased 2,300 shares of Regions Financial stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $21.18 per share, with a total value of $48,714.00. Following the completion of the acquisition, the director now owns 17,486 shares in the company, valued at $370,353.48. The trade was a 15.15 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Regions Financial by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank's stock worth $686,398,000 after buying an additional 1,396,647 shares during the period. Geode Capital Management LLC raised its stake in Regions Financial by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank's stock valued at $540,284,000 after acquiring an additional 403,283 shares in the last quarter. First Trust Advisors LP boosted its position in Regions Financial by 7.7% during the 4th quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank's stock worth $401,097,000 after acquiring an additional 1,224,645 shares during the period. Invesco Ltd. grew its stake in shares of Regions Financial by 14.5% in the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank's stock worth $363,823,000 after purchasing an additional 1,963,954 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Regions Financial during the fourth quarter valued at $279,103,000. Institutional investors own 79.39% of the company's stock.

Regions Financial Company Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.