Truist Financial Forecasts Strong Price Appreciation for Regions Financial (NYSE:RF) Stock

Regions Financial (NYSE:RF) had its price target hoisted by analysts at Truist Financial from $25.00 to $26.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the bank’s stock. Truist Financial’s price objective indicates a potential upside of 5.19% from the company’s previous close.

Several other brokerages also recently weighed in on RF. Wells Fargo & Company increased their price target on Regions Financial from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Citigroup increased their target price on shares of Regions Financial from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Wedbush increased their target price on shares of Regions Financial from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. DA Davidson increased their target price on shares of Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Morgan Stanley reissued an “equal weight” rating and set a $32.00 target price (up from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.67.

Regions Financial Stock Up 2.1 %

Regions Financial stock traded up $0.52 during mid-day trading on Tuesday, reaching $24.72. 3,197,603 shares of the company were exchanged, compared to its average volume of 8,642,974. The business has a fifty day moving average of $25.07 and a 200 day moving average of $23.44. The firm has a market cap of $22.47 billion, a P/E ratio of 12.74, a PEG ratio of 2.31 and a beta of 1.21. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial has a 12-month low of $17.42 and a 12-month high of $27.96.

Regions Financial (NYSE:RF) last released its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1,857,300 billion. During the same period in the prior year, the firm earned $0.39 EPS. The firm’s revenue was up .2% on a year-over-year basis. Research analysts anticipate that Regions Financial will post 2.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Citigroup Inc. raised its holdings in shares of Regions Financial by 20.0% during the third quarter. Citigroup Inc. now owns 1,519,299 shares of the bank’s stock valued at $35,445,000 after acquiring an additional 253,708 shares during the period. Aprio Wealth Management LLC acquired a new stake in shares of Regions Financial during the fourth quarter valued at approximately $1,247,000. Nordea Investment Management AB raised its holdings in shares of Regions Financial by 60.4% during the fourth quarter. Nordea Investment Management AB now owns 263,131 shares of the bank’s stock valued at $6,220,000 after acquiring an additional 99,115 shares during the period. Commerce Bank raised its holdings in shares of Regions Financial by 392.5% during the third quarter. Commerce Bank now owns 248,325 shares of the bank’s stock valued at $5,793,000 after acquiring an additional 197,900 shares during the period. Finally, National Pension Service raised its holdings in shares of Regions Financial by 6.3% during the third quarter. National Pension Service now owns 1,722,024 shares of the bank’s stock valued at $40,175,000 after acquiring an additional 102,380 shares during the period. 79.39% of the stock is currently 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.