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

Regions Financial (NYSE:RF) had its target price decreased by equities research analysts at Truist Financial from $29.00 to $28.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the bank’s stock. Truist Financial’s target price would suggest a potential upside of 7.67% from the company’s current price.

RF has been the topic of several other reports. Brean Capital initiated coverage on shares of Regions Financial in a report on Thursday, March 12th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. upped their target price on Regions Financial from $29.00 to $31.50 and gave the company a “neutral” rating in a research report on Monday, February 9th. UBS Group reissued a “neutral” rating and set a $30.00 price target on shares of Regions Financial in a report on Wednesday, February 4th. Wall Street Zen lowered Regions Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Finally, Morgan Stanley set a $31.00 price objective on Regions Financial in a research report on Monday, January 19th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $29.91.

Regions Financial Stock Performance

RF stock traded up $0.65 during midday trading on Monday, reaching $26.01. 2,546,085 shares of the company were exchanged, compared to its average volume of 15,123,836. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. The business has a 50-day moving average price of $28.23 and a two-hundred day moving average price of $26.81. Regions Financial has a one year low of $17.74 and a one year high of $31.53. The firm has a market capitalization of $22.46 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 0.90 and a beta of 1.02.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 16th. The bank reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.04). The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. Regions Financial’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.56 earnings per share. Equities research analysts forecast that Regions Financial will post 2.26 EPS for the current year.

Regions Financial announced that its Board of Directors has initiated a share buyback program on Wednesday, December 10th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 12.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of Regions Financial stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total value of $1,036,080.00. Following the completion of the transaction, the executive vice president directly owned 17,569 shares of the company’s stock, valued at $505,635.82. The trade was a 67.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by company insiders.

Institutional Trading of Regions Financial

Several large investors have recently modified their holdings of the stock. Root Financial Partners LLC raised its stake in Regions Financial by 3.9% in the fourth quarter. Root Financial Partners LLC now owns 9,148 shares of the bank’s stock valued at $248,000 after purchasing an additional 346 shares in the last quarter. Van ECK Associates Corp grew its stake in Regions Financial by 1.1% during the fourth quarter. Van ECK Associates Corp now owns 33,604 shares of the bank’s stock worth $911,000 after buying an additional 373 shares in the last quarter. Centaurus Financial Inc. increased its holdings in Regions Financial by 3.9% in the 2nd quarter. Centaurus Financial Inc. now owns 10,230 shares of the bank’s stock valued at $241,000 after buying an additional 382 shares during the period. Lcnb Corp raised its position in shares of Regions Financial by 3.8% in the 4th quarter. Lcnb Corp now owns 10,725 shares of the bank’s stock valued at $291,000 after buying an additional 390 shares in the last quarter. Finally, West Paces Advisors Inc. raised its position in shares of Regions Financial by 4.0% in the 4th quarter. West Paces Advisors Inc. now owns 10,505 shares of the bank’s stock valued at $285,000 after buying an additional 405 shares in the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Regions Financial Company Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.