Citigroup Cuts Regions Financial (NYSE:RF) Price Target to $28.00

Regions Financial (NYSE:RF) had its price target cut by equities researchers at Citigroup from $30.00 to $28.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. Citigroup’s price target points to a potential upside of 31.80% from the stock’s current price.

Several other equities analysts have also commented on the company. The Goldman Sachs Group upped their price target on Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Morgan Stanley reiterated an “equal weight” rating and set a $32.00 price target (up from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Piper Sandler upped their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Wells Fargo & Company lifted their target price on shares of Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. Finally, Truist Financial upped their price target on Regions Financial from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Regions Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

Regions Financial Trading Up 1.2 %

Shares of NYSE RF traded up $0.26 during trading on Wednesday, hitting $21.25. 6,843,407 shares of the company were exchanged, compared to its average volume of 7,464,958. The company has a fifty day moving average price of $23.81 and a 200-day moving average price of $24.05. 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 $19.24 billion, a PE ratio of 10.95, a P/E/G ratio of 1.93 and a beta of 1.19. Regions Financial has a 12-month low of $17.72 and a 12-month high of $27.96.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, January 17th. The bank reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. Regions Financial’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.39 earnings per share. As a group, equities research analysts expect that Regions Financial will post 2.26 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Quarry LP increased its stake in Regions Financial by 29.5% in the third quarter. Quarry LP now owns 1,729 shares of the bank’s stock valued at $40,000 after purchasing an additional 394 shares during the last quarter. Ballentine Partners LLC grew its position in shares of Regions Financial by 2.5% in the 4th quarter. Ballentine Partners LLC now owns 17,458 shares of the bank’s stock valued at $411,000 after buying an additional 420 shares during the last quarter. Prossimo Advisors LLC raised its stake in Regions Financial by 2.3% during the 4th quarter. Prossimo Advisors LLC now owns 19,270 shares of the bank’s stock worth $453,000 after acquiring an additional 430 shares in the last quarter. Greenleaf Trust lifted its position in Regions Financial by 1.8% in the fourth quarter. Greenleaf Trust now owns 24,382 shares of the bank’s stock valued at $573,000 after acquiring an additional 436 shares during the last quarter. Finally, Lake Street Advisors Group LLC boosted its stake in Regions Financial by 2.3% in the fourth quarter. Lake Street Advisors Group LLC now owns 19,173 shares of the bank’s stock valued at $456,000 after acquiring an additional 436 shares in the last quarter. Hedge funds and other 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.