Regions Financial (NYSE:RF) Price Target Lowered to $20.00 at Truist Financial

Regions Financial (NYSE:RF) had its target price cut by Truist Financial from $22.00 to $20.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the bank’s stock. Truist Financial’s target price points to a potential upside of 3.41% from the stock’s current price.

Other research analysts have also issued reports about the company. Barclays reissued an “underweight” rating and set a $22.00 price target (up from $20.00) on shares of Regions Financial in a research report on Tuesday, January 2nd. Jefferies Financial Group raised Regions Financial from a “hold” rating to a “buy” rating and upped their price target for the company from $15.00 to $22.00 in a research report on Tuesday, January 9th. Royal Bank of Canada boosted their target price on Regions Financial from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Evercore ISI boosted their target price on Regions Financial from $20.00 to $22.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Finally, Argus downgraded Regions Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Regions Financial has a consensus rating of “Hold” and an average price target of $20.17.

Regions Financial Stock Up 0.8 %

NYSE:RF opened at $19.34 on Monday. The firm has a market capitalization of $17.77 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 1.37 and a beta of 1.21. Regions Financial has a 1-year low of $13.72 and a 1-year high of $21.08. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The business’s fifty day moving average price is $19.36 and its 200 day moving average price is $18.05.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, April 19th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08). The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. Regions Financial had a net margin of 19.75% and a return on equity of 13.28%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 earnings per share. On average, sell-side analysts forecast that Regions Financial will post 1.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RF. Moisand Fitzgerald Tamayo LLC bought a new position in shares of Regions Financial in the 3rd quarter valued at approximately $26,000. Laurel Wealth Advisors LLC increased its position in Regions Financial by 86.5% in the 4th quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock worth $27,000 after buying an additional 649 shares during the period. ICA Group Wealth Management LLC bought a new position in Regions Financial in the 4th quarter worth approximately $28,000. Sound Income Strategies LLC increased its position in Regions Financial by 103.2% in the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock worth $29,000 after buying an additional 750 shares during the period. Finally, Glassman Wealth Services increased its position in Regions Financial by 163.3% in the 4th quarter. Glassman Wealth Services now owns 1,559 shares of the bank’s stock worth $30,000 after buying an additional 967 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.