Regions Financial (NYSE:RF) Price Target Raised to $31.50 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised its price target on Regions Financial to $31.50 from $29.00 while keeping a neutral rating, implying about 3.74% upside from the prior close.
• Analyst sentiment on RF remains mixed: the stock currently carries a Hold consensus with a $30.84 average target, even as several firms have recently adjusted ratings and price objectives.
• Regions Financial shares were trading around $30.36 and are near their 52-week high of $31.53; the company also recently beat quarterly EPS expectations, reporting $0.62 per share versus estimates of $0.61.

Regions Financial (NYSE:RF - Get Free Report) had its price objective raised by equities researchers at JPMorgan Chase & Co. from $29.00 to $31.50 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the bank's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 3.74% from the stock's previous close.

A number of other research firms have also recently weighed in on RF. DA Davidson cut shares of Regions Financial from a "buy" rating to a "neutral" rating and set a $33.00 price target on the stock. in a report on Monday. Truist Financial restated a "hold" rating and issued a $30.00 target price on shares of Regions Financial in a research note on Tuesday, April 21st. Royal Bank Of Canada lifted their price target on shares of Regions Financial from $29.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, April 20th. Stephens began coverage on Regions Financial in a research report on Monday, June 15th. They issued an "equal weight" rating and a $31.00 price objective for the company. Finally, Wells Fargo & Company boosted their target price on Regions Financial from $28.00 to $30.00 and gave the stock an "underweight" rating in a research note on Monday. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $30.84.

Regions Financial Trading Up 0.3%

RF opened at $30.36 on Monday. Regions Financial has a one year low of $22.70 and a one year high of $31.53. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $25.91 billion, a price-to-earnings ratio of 12.65, a P/E/G ratio of 1.15 and a beta of 1.00. The stock's 50 day moving average price is $28.38 and its 200-day moving average price is $28.01.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings results on Friday, April 17th. The bank reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. The firm had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.92 billion. Regions Financial had a net margin of 23.13% and a return on equity of 12.70%. The business's revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 earnings per share. On average, equities analysts forecast that Regions Financial will post 2.61 EPS for the current year.

Insider Transactions at Regions Financial

In other Regions Financial news, EVP Brian R. Willman sold 7,014 shares of the firm's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $27.91, for a total value of $195,760.74. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On Regions Financial

Institutional investors have recently added to or reduced their stakes in the stock. Swiss Life Asset Management Ltd increased its stake in Regions Financial by 244.4% during the 4th quarter. Swiss Life Asset Management Ltd now owns 2,255,888 shares of the bank's stock worth $61,135,000 after buying an additional 1,600,926 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Regions Financial by 11.2% during the third quarter. Schroder Investment Management Group now owns 1,732,045 shares of the bank's stock valued at $45,899,000 after acquiring an additional 173,871 shares during the last quarter. Interval Partners LP lifted its position in shares of Regions Financial by 30.5% in the third quarter. Interval Partners LP now owns 786,307 shares of the bank's stock valued at $20,735,000 after acquiring an additional 183,694 shares in the last quarter. Korea Investment CORP lifted its position in shares of Regions Financial by 177.2% in the third quarter. Korea Investment CORP now owns 2,407,473 shares of the bank's stock valued at $63,485,000 after acquiring an additional 1,538,827 shares in the last quarter. Finally, Waterloo Capital L.P. boosted its stake in shares of Regions Financial by 123.7% in the fourth quarter. Waterloo Capital L.P. now owns 135,909 shares of the bank's stock worth $3,683,000 after acquiring an additional 75,149 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Company Profile

Regions Financial Corporation NYSE: RF is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.

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