Wells Fargo & Company Raises Regions Financial (NYSE:RF) Price Target to $24.00

Regions Financial (NYSE:RF) had its price target raised by stock analysts at Wells Fargo & Company from $22.00 to $24.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 0.71% from the stock’s previous close.

Several other research analysts have also commented on RF. Jefferies Financial Group raised their price objective on Regions Financial from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. StockNews.com lowered Regions Financial from a “hold” rating to a “sell” rating in a research report on Thursday. Royal Bank of Canada boosted their price objective on Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. The Goldman Sachs Group boosted their price objective on Regions Financial from $25.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Bank of America boosted their price objective on Regions Financial from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Regions Financial has an average rating of “Hold” and a consensus price target of $23.21.

Regions Financial Trading Up 0.0 %

Shares of RF stock traded up $0.01 during mid-day trading on Monday, hitting $23.83. 2,028,925 shares of the company’s stock were exchanged, compared to its average volume of 7,897,040. Regions Financial has a fifty-two week low of $13.72 and a fifty-two week high of $24.47. The stock has a market cap of $21.82 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 2.80 and a beta of 1.17. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.33. The stock has a 50-day simple moving average of $22.65 and a two-hundred day simple moving average of $20.89.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, October 18th. The bank reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. Regions Financial had a return on equity of 12.64% and a net margin of 18.91%. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the firm earned $0.49 earnings per share. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. Equities analysts expect that Regions Financial will post 2.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Regions Financial

Several hedge funds and other institutional investors have recently made changes to their positions in RF. EntryPoint Capital LLC acquired a new position in shares of Regions Financial during the first quarter worth approximately $26,000. American National Bank & Trust boosted its position in shares of Regions Financial by 1,856.7% during the third quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after buying an additional 1,114 shares during the period. Quarry LP boosted its position in shares of Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock worth $27,000 after buying an additional 816 shares during the period. MV Capital Management Inc. boosted its position in shares of Regions Financial by 75.6% during the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock worth $30,000 after buying an additional 618 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Regions Financial by 530.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock worth $30,000 after buying an additional 1,256 shares during the period. 79.39% of the stock is currently owned by institutional investors and hedge funds.

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.