Regions Financial (NYSE:RF) Price Target Cut to $26.00 by Analysts at Wells Fargo & Company

Regions Financial (NYSE:RF) had its price target reduced by equities researchers at Wells Fargo & Company from $28.00 to $26.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s target price points to a potential upside of 20.40% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Compass Point raised their price objective on Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Morgan Stanley restated an “equal weight” rating and set a $32.00 price target (up from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Barclays upped their price objective on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. Citigroup cut their target price on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Truist Financial cut their price target on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $27.17.

Regions Financial Price Performance

Shares of RF traded down $0.34 during trading hours on Friday, hitting $21.59. 311,976 shares of the company were exchanged, compared to its average volume of 7,448,098. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. Regions Financial has a fifty-two week low of $17.72 and a fifty-two week high of $27.96. The company has a market cap of $19.55 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 1.93 and a beta of 1.19. The firm’s fifty day moving average is $23.30 and its 200 day moving average is $23.93.

Regions Financial (NYSE:RF) last released its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the company earned $0.39 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, equities analysts anticipate that Regions Financial will post 2.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Joia M. Johnson acquired 2,300 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average cost of $21.18 per share, for a total transaction of $48,714.00. Following the purchase, the director now owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. The trade was a 15.15 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have purchased 3,993 shares of company stock valued at $89,682. 0.29% of the stock is owned by company insiders.

Institutional Trading of Regions Financial

Several hedge funds and other institutional investors have recently modified their holdings of the business. 111 Capital purchased a new stake in shares of Regions Financial during the fourth quarter worth $204,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Regions Financial by 51.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 229,249 shares of the bank’s stock valued at $5,392,000 after acquiring an additional 77,586 shares during the period. Lansforsakringar Fondforvaltning AB publ purchased a new position in Regions Financial during the fourth quarter valued at approximately $307,000. Siemens Fonds Invest GmbH increased its holdings in Regions Financial by 345.8% during the 4th quarter. Siemens Fonds Invest GmbH now owns 44,148 shares of the bank’s stock worth $1,038,000 after acquiring an additional 34,244 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Regions Financial in the 4th quarter worth approximately $16,421,000. Institutional investors 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.