Citigroup Forecasts Strong Price Appreciation for Regions Financial (NYSE:RF) Stock

Regions Financial (NYSE:RF - Get Free Report) had its target price upped by Citigroup from $27.00 to $30.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the bank's stock. Citigroup's price target suggests a potential upside of 12.97% from the company's current price.

RF has been the subject of several other research reports. JPMorgan Chase & Co. decreased their price target 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. Morgan Stanley lifted their price target on shares of Regions Financial from $27.00 to $29.00 and gave the stock an "equal weight" rating in a report on Monday. Truist Financial reissued a "hold" rating on shares of Regions Financial in a report on Friday, May 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of Regions Financial from $29.00 to $30.00 and gave the company an "outperform" rating in a report on Monday. Finally, The Goldman Sachs Group decreased their target price on shares of Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $27.33.

Regions Financial Price Performance

Shares of Regions Financial stock traded up $0.19 during trading on Thursday, reaching $26.56. 14,766,989 shares of the stock traded hands, compared to its average volume of 9,327,843. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82. Regions Financial has a 52-week low of $17.74 and a 52-week high of $27.96. The business has a fifty day simple moving average of $23.01 and a two-hundred day simple moving average of $22.48. The company has a market capitalization of $23.87 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 1.51 and a beta of 0.98.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a net margin of 21.81% and a return on equity of 13.08%. The firm's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 earnings per share. Sell-side analysts expect that Regions Financial will post 2.26 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in Regions Financial by 3.7% during the 1st quarter. Wellington Management Group LLP now owns 44,211,562 shares of the bank's stock valued at $960,717,000 after buying an additional 1,562,512 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Regions Financial by 6.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 31,092,742 shares of the bank's stock valued at $675,645,000 after purchasing an additional 1,909,162 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 purchasing an additional 403,283 shares in the last quarter. Invesco Ltd. boosted its position in shares of Regions Financial by 35.7% during the 1st quarter. Invesco Ltd. now owns 20,990,446 shares of the bank's stock valued at $456,122,000 after purchasing an additional 5,521,772 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Regions Financial by 7.7% during the 4th quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank's stock valued at $401,097,000 after purchasing an additional 1,224,645 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors.

About Regions Financial

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.

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