Regions Financial (NYSE:RF) Price Target Raised to $33.00 at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised its price target on Regions Financial from $32 to $33 while keeping a market perform rating, implying modest upside from the prior close.
• Analyst sentiment remains mixed overall: Regions Financial now has a Hold consensus rating with an average price target of $31.44, despite some recent upgrades and target increases from other firms.
• The bank’s latest quarterly results were slightly better than expected, with EPS of $0.68 versus estimates of $0.63 and revenue of $1.95 billion, while shares recently traded near their 52-week high.

Regions Financial (NYSE:RF - Get Free Report) had its price target lifted by research analysts at Keefe, Bruyette & Woods from $32.00 to $33.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price objective would indicate a potential upside of 4.19% from the company's previous close.

Other research analysts also recently issued reports about the company. Truist Financial reissued a "hold" rating and issued a $30.00 price target on shares of Regions Financial in a report on Tuesday, April 21st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Regions Financial in a report on Friday. Cantor Fitzgerald lifted their target price on shares of Regions Financial from $32.00 to $34.00 and gave the company an "overweight" rating in a report on Wednesday. DA Davidson cut shares of Regions Financial from a "buy" rating to a "neutral" rating and decreased their target price for the company from $35.00 to $33.00 in a research note on Monday, July 6th. Finally, Robert W. Baird reissued an "underperform" rating and set a $28.00 price target on shares of Regions Financial in a report on Monday, July 6th. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Regions Financial currently has an average rating of "Hold" and a consensus target price of $31.44.

Regions Financial Stock Performance

NYSE RF opened at $31.67 on Monday. The stock has a 50-day simple moving average of $28.95 and a two-hundred day simple moving average of $28.25. The firm has a market capitalization of $27.03 billion, a P/E ratio of 12.93, a PEG ratio of 1.22 and a beta of 1.00. Regions Financial has a fifty-two week low of $22.70 and a fifty-two week high of $32.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81.

Regions Financial (NYSE:RF - Get Free Report) last issued its earnings results on Friday, July 17th. The bank reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.05. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The company's revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 earnings per share. On average, equities analysts forecast that Regions Financial will post 2.6 earnings per share for the current year.

Insider Activity at Regions Financial

In other 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.34% of the stock is owned by insiders.

Institutional Trading of Regions Financial

Several large investors have recently made changes to their positions in RF. Charles Schwab Investment Management Inc. raised its position in shares of Regions Financial by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,837,339 shares of the bank's stock valued at $862,792,000 after buying an additional 215,061 shares during the last quarter. Victory Capital Management Inc. boosted its position in Regions Financial by 68.9% during the fourth quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank's stock worth $618,860,000 after acquiring an additional 9,312,449 shares during the last quarter. Invesco Ltd. grew its stake in Regions Financial by 3.1% during the 4th quarter. Invesco Ltd. now owns 19,348,237 shares of the bank's stock valued at $524,337,000 after acquiring an additional 573,659 shares in the last quarter. Morgan Stanley grew its stake in Regions Financial by 1.3% during the 4th quarter. Morgan Stanley now owns 18,356,400 shares of the bank's stock valued at $497,459,000 after acquiring an additional 231,924 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Regions Financial by 75.7% during the 1st quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank's stock valued at $348,936,000 after acquiring an additional 5,754,487 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

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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