Evercore ISI Boosts Regions Financial (NYSE:RF) Price Target to $22.00

Regions Financial (NYSE:RF) had its target price lifted by stock analysts at Evercore ISI from $20.00 to $22.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “in-line” rating on the bank’s stock. Evercore ISI’s price target would indicate a potential upside of 5.72% from the company’s current price.

RF has been the topic of several other research reports. Morgan Stanley upped their target price on shares of Regions Financial from $21.00 to $27.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Barclays reiterated an “underweight” rating and set a $22.00 price target (up previously from $20.00) on shares of Regions Financial in a research report on Tuesday, January 2nd. Citigroup upgraded shares of Regions Financial from a “neutral” rating to a “buy” rating and upped their price target for the stock from $20.00 to $23.00 in a research report on Monday, March 18th. Argus downgraded shares of Regions Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Finally, Piper Sandler upped their price target on shares of Regions Financial from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, December 8th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $20.28.

Regions Financial Stock Performance

Shares of Regions Financial stock traded up $0.13 on Thursday, reaching $20.81. The stock had a trading volume of 1,465,983 shares, compared to its average volume of 8,989,477. The business’s 50-day moving average price is $18.88 and its two-hundred day moving average price is $17.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 0.82. Regions Financial has a fifty-two week low of $13.72 and a fifty-two week high of $21.02. The stock has a market cap of $19.12 billion, a P/E ratio of 9.99, a price-to-earnings-growth ratio of 1.44 and a beta of 1.19.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 19th. The bank reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.09). Regions Financial had a return on equity of 14.50% and a net margin of 22.66%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the firm posted $0.67 earnings per share. Regions Financial’s quarterly revenue was down 9.5% compared to the same quarter last year. On average, sell-side analysts forecast that Regions Financial will post 1.98 EPS for the current year.

Institutional Investors Weigh In On Regions Financial

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Regions Financial by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 117,704,755 shares of the bank’s stock valued at $2,281,118,000 after purchasing an additional 3,119,237 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Regions Financial by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 55,775,416 shares of the bank’s stock worth $1,080,928,000 after buying an additional 1,951,026 shares in the last quarter. State Street Corp lifted its holdings in shares of Regions Financial by 0.4% during the first quarter. State Street Corp now owns 50,312,924 shares of the bank’s stock worth $943,529,000 after buying an additional 189,323 shares in the last quarter. Morgan Stanley increased its position in shares of Regions Financial by 16.1% in the fourth quarter. Morgan Stanley now owns 20,189,021 shares of the bank’s stock worth $435,275,000 after purchasing an additional 2,802,291 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Regions Financial by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 20,169,876 shares of the bank’s stock worth $346,922,000 after purchasing an additional 618,384 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

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.