Regions Financial (NYSE:RF) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan raised Regions Financial’s price target from $31.50 to $32.00 while maintaining a neutral rating, implying about 3% upside from the previous close.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average target price of $32.24; six analysts rate the stock a Buy, ten a Hold, and four a Sell.
• Regions Financial beat quarterly expectations, reporting $0.68 in earnings per share versus $0.63 expected and $1.95 billion in revenue. The stock recently traded at $31.06, near its 52-week high of $32.47.

Regions Financial (NYSE:RF - Get Free Report) had its target price raised by analysts at JPMorgan Chase & Co. from $31.50 to $32.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the bank's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 3.03% from the stock's previous close.

Several other brokerages have also commented on RF. Weiss Ratings restated a "buy (b)" rating on shares of Regions Financial in a report on Friday, July 17th. Wells Fargo & Company boosted their price objective on shares of Regions Financial from $28.00 to $30.00 and gave the stock an "underweight" rating in a report on Monday, July 6th. Stephens started coverage on shares of Regions Financial in a report on Monday, June 15th. They issued an "equal weight" rating and a $31.00 target price on the stock. DA Davidson lifted their price objective on Regions Financial from $33.00 to $34.00 and gave the company a "neutral" rating in a research report on Monday, July 20th. Finally, Evercore reiterated an "underperform" rating and set a $31.00 price objective on shares of Regions Financial in a research report on Monday, July 6th. Six research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $32.24.

Regions Financial Price Performance

Regions Financial stock traded down $0.21 during midday trading on Wednesday, reaching $31.06. 3,642,813 shares of the stock were exchanged, compared to its average volume of 12,617,448. Regions Financial has a 52 week low of $22.70 and a 52 week high of $32.47. The company's fifty day moving average is $29.52 and its 200-day moving average is $28.40. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $26.51 billion, a PE ratio of 12.68, a PEG ratio of 1.18 and a beta of 1.00.

Regions Financial (NYSE:RF - Get Free Report) last posted its quarterly earnings data on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The firm had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter last year, the company posted $0.60 EPS. The business's quarterly revenue was up .1% on a year-over-year basis. On average, sell-side analysts forecast that Regions Financial will post 2.62 EPS for the current year.

Insider Transactions at Regions Financial

In other news, EVP Brian R. Willman sold 7,014 shares of the company's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $27.91, for a total transaction of $195,760.74. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Regions Financial in the fourth quarter worth about $254,564,000. Victory Capital Management Inc. raised its holdings in Regions Financial by 68.9% in the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank's stock worth $618,860,000 after purchasing an additional 9,312,449 shares during the period. First Trust Advisors LP increased its position in shares of Regions Financial by 75.7% in the first quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank's stock valued at $348,936,000 after buying an additional 5,754,487 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in Regions Financial by 286.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 4,022,031 shares of the bank's stock valued at $106,061,000 after acquiring an additional 2,980,505 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in Regions Financial by 151.2% during the third quarter. AQR Capital Management LLC now owns 3,939,544 shares of the bank's stock valued at $103,886,000 after purchasing an additional 2,371,048 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

About Regions Financial

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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