Regions Financial (NYSE:RF) Given New $21.00 Price Target at Piper Sandler

Regions Financial (NYSE:RF - Get Free Report) had its price target increased by analysts at Piper Sandler from $20.00 to $21.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a "neutral" rating on the bank's stock. Piper Sandler's price objective points to a potential upside of 7.03% from the stock's current price.

A number of other analysts also recently issued reports on RF. Evercore ISI raised their target price on Regions Financial from $20.00 to $22.00 and gave the stock an "in-line" rating in a research report on Thursday, March 28th. StockNews.com cut Regions Financial from a "hold" rating to a "sell" rating in a research report on Tuesday, February 6th. Barclays reiterated an "underweight" rating and issued a $22.00 price target (up from $20.00) on shares of Regions Financial in a research report on Tuesday, January 2nd. Royal Bank of Canada lifted their price target on Regions Financial from $19.00 to $21.00 and gave the company an "outperform" rating in a research report on Monday, January 22nd. Finally, Keefe, Bruyette & Woods lifted their price target on Regions Financial from $21.00 to $22.00 and gave the company a "market perform" rating in a research report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $20.34.

Regions Financial Stock Performance

NYSE:RF traded up $0.01 during trading hours on Friday, reaching $19.62. The stock had a trading volume of 5,241,245 shares, compared to its average volume of 8,790,399. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a 50 day simple moving average of $19.43 and a 200 day simple moving average of $18.09. Regions Financial has a 12-month low of $13.72 and a 12-month high of $21.08. The stock has a market cap of $18.03 billion, a P/E ratio of 10.66, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21.

Regions Financial (NYSE:RF - Get Free Report) last released its earnings results on Friday, April 19th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.08). Regions Financial had a return on equity of 13.28% and a net margin of 19.75%. The firm had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.75 billion. During the same period in the prior year, the business earned $0.62 earnings per share. The business's quarterly revenue was down 10.5% compared to the same quarter last year. On average, research analysts forecast that Regions Financial will post 1.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director William C. Rhodes III purchased 50,000 shares of the company's stock in a transaction on Tuesday, April 23rd. The stock was purchased at an average price of $19.37 per share, with a total value of $968,500.00. Following the completion of the purchase, the director now directly owns 50,000 shares in the company, valued at approximately $968,500. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On Regions Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Whittier Trust Co. lifted its stake in shares of Regions Financial by 16.5% in the 4th quarter. Whittier Trust Co. now owns 3,881 shares of the bank's stock valued at $75,000 after acquiring an additional 549 shares during the last quarter. CWM LLC lifted its stake in shares of Regions Financial by 1.4% in the 1st quarter. CWM LLC now owns 41,137 shares of the bank's stock valued at $866,000 after acquiring an additional 556 shares during the last quarter. Signet Financial Management LLC lifted its stake in shares of Regions Financial by 4.9% in the 1st quarter. Signet Financial Management LLC now owns 12,438 shares of the bank's stock valued at $262,000 after acquiring an additional 584 shares during the last quarter. Pinnacle Financial Partners Inc lifted its stake in shares of Regions Financial by 0.4% in the 4th quarter. Pinnacle Financial Partners Inc now owns 144,317 shares of the bank's stock valued at $2,797,000 after acquiring an additional 606 shares during the last quarter. Finally, MV Capital Management Inc. lifted its stake in shares of Regions Financial by 75.6% in the 1st quarter. MV Capital Management Inc. now owns 1,435 shares of the bank's stock valued at $30,000 after acquiring an additional 618 shares during the last quarter. 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.