Regions Financial (NYSE:RF) Price Target Cut to $26.00 by Analysts at Truist Financial

Key Points

• Truist Financial has reduced its price target for Regions Financial from $28.00 to $26.00, maintaining a "hold" rating on the stock, which suggests a potential upside of 8.58% based on current share prices.
• Despite the cut from Truist, several other brokerages have raised their target prices, with Evercore ISI increasing it to $29.00 and Citigroup to $32.00, reflecting mixed analyst sentiment towards the stock.
• Regions Financial's stock is currently trading at $23.95, with analysts predicting earnings of 2.26 EPS for the fiscal year, while the stock's market cap stands at $21.37 billion.

Regions Financial (NYSE:RF - Get Free Report) had its price target reduced by Truist Financial from $28.00 to $26.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the bank's stock. Truist Financial's price target points to a potential upside of 8.58% from the stock's current price.

Several other brokerages have also recently commented on RF. Evercore ISI raised their target price on Regions Financial from $28.00 to $29.00 and gave the stock an "in-line" rating in a research report on Tuesday, September 30th. Wall Street Zen raised Regions Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Regions Financial in a research report on Wednesday, October 8th. Barclays reaffirmed an "underweight" rating and issued a $27.00 target price (up from $24.00) on shares of Regions Financial in a research report on Monday, July 21st. Finally, Citigroup raised their target price on Regions Financial from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, September 23rd. Twelve equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $28.05.

Regions Financial Stock Performance

Shares of Regions Financial stock traded up $0.37 during midday trading on Monday, hitting $23.95. The company had a trading volume of 28,145,871 shares, compared to its average volume of 12,783,555. The business's 50 day simple moving average is $26.23 and its two-hundred day simple moving average is $23.71. The stock has a market cap of $21.37 billion, a PE ratio of 10.54, a P/E/G ratio of 1.12 and a beta of 1.02. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.82 and a quick ratio of 0.81. Regions Financial has a 1-year low of $17.74 and a 1-year high of $27.96.

Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The bank reported $0.39 earnings per share (EPS) for the quarter. The business had revenue of $1.81 billion for the quarter. Regions Financial had a net margin of 22.49% and a return on equity of 13.05%. As a group, equities analysts predict that Regions Financial will post 2.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Roger W. Jenkins acquired 4,000 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was bought at an average cost of $25.48 per share, with a total value of $101,920.00. Following the completion of the acquisition, the director owned 6,383 shares in the company, valued at $162,638.84. The trade was a 167.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David R. Keenan sold 30,000 shares of Regions Financial stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $25.01, for a total value of $750,300.00. Following the completion of the transaction, the executive vice president directly owned 90,915 shares of the company's stock, valued at $2,273,784.15. This represents a 24.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Darwin Wealth Management LLC bought a new position in shares of Regions Financial in the second quarter valued at about $25,000. CVA Family Office LLC raised its holdings in shares of Regions Financial by 163.2% in the second quarter. CVA Family Office LLC now owns 1,058 shares of the bank's stock valued at $25,000 after buying an additional 656 shares during the last quarter. American National Bank & Trust raised its holdings in shares of Regions Financial by 2,433.3% in the second quarter. American National Bank & Trust now owns 1,064 shares of the bank's stock valued at $25,000 after buying an additional 1,022 shares during the last quarter. Bayforest Capital Ltd raised its holdings in shares of Regions Financial by 637.3% in the first quarter. Bayforest Capital Ltd now owns 1,224 shares of the bank's stock valued at $27,000 after buying an additional 1,058 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of Regions Financial in the second quarter valued at about $30,000. 79.39% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.