Regions Financial (NYSE:RF – Get Free Report) had its target price boosted by investment analysts at Barclays from $25.00 to $26.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the bank’s stock. Barclays‘s target price would suggest a potential upside of 7.84% from the company’s current price.
Several other analysts have also weighed in on the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $32.00 price objective (up from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Stephens raised Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective on the stock in a research note on Tuesday, October 29th. Piper Sandler lifted their price target on shares of Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Compass Point increased their price objective on shares of Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company upped their price target on Regions Financial from $24.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Regions Financial has an average rating of “Moderate Buy” and a consensus price target of $27.67.
Regions Financial Stock Performance
Regions Financial (NYSE:RF – Get Free Report) last released its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the company posted $0.49 EPS. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, sell-side analysts expect that Regions Financial will post 2.12 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised its position in Regions Financial by 16.3% in the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after purchasing an additional 7,791,399 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Regions Financial by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank’s stock valued at $648,269,000 after purchasing an additional 816,226 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Regions Financial by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank’s stock worth $526,118,000 after buying an additional 315,605 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Regions Financial by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock worth $285,562,000 after buying an additional 979,597 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Regions Financial by 13.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock valued at $201,238,000 after buying an additional 1,014,706 shares during the period. 79.39% of the stock is owned by institutional investors.
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.
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