Truist Financial Cuts Regions Financial (NYSE:RF) Price Target to $24.00

Regions Financial (NYSE:RF) had its price objective lowered by research analysts at Truist Financial from $26.00 to $24.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the bank’s stock. Truist Financial’s target price suggests a potential upside of 10.78% from the company’s current price.

Several other research analysts have also weighed in on the stock. Citigroup lowered their price objective on shares of Regions Financial from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Barclays lifted their price target on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. The Goldman Sachs Group upped their price objective on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Compass Point boosted their target price on Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Piper Sandler increased their price target on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.44.

Regions Financial Stock Performance

RF opened at $21.66 on Friday. The business’s 50-day simple moving average is $23.49 and its 200 day simple moving average is $23.95. Regions Financial has a 52-week low of $17.72 and a 52-week high of $27.96. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market capitalization of $19.62 billion, a PE ratio of 11.17, a PEG ratio of 1.93 and a beta of 1.19.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the business posted $0.39 EPS. The business’s revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts expect that Regions Financial will post 2.26 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Joia M. Johnson bought 2,300 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $21.18 per share, with a total value of $48,714.00. Following the acquisition, the director now directly owns 17,486 shares in the company, valued at $370,353.48. This represents a 15.15 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders purchased 3,993 shares of company stock worth $89,682. 0.29% of the stock is currently owned by company insiders.

Institutional Trading of Regions Financial

A number of institutional investors and hedge funds have recently made changes to their positions in RF. State Street Corp raised its position in Regions Financial by 16.3% during the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after purchasing an additional 7,791,399 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Regions Financial by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock worth $686,398,000 after buying an additional 1,396,647 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Regions Financial by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank’s stock worth $540,284,000 after buying an additional 403,283 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Regions Financial by 7.7% during the 4th quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank’s stock worth $401,097,000 after buying an additional 1,224,645 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Regions Financial by 14.5% in the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank’s stock valued at $363,823,000 after buying an additional 1,963,954 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

About Regions Financial

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.