Regions Financial (NYSE:RF) Price Target Raised to $31.50 at JPMorgan Chase & Co.

Regions Financial (NYSE:RF) had its price target hoisted by research analysts at JPMorgan Chase & Co. from $29.00 to $31.50 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 2.36% from the stock’s current price.

Several other equities analysts also recently weighed in on RF. Weiss Ratings reiterated a “buy (b)” rating on shares of Regions Financial in a research note on Monday, December 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $31.00 target price on shares of Regions Financial in a research report on Tuesday, January 20th. Truist Financial boosted their price target on shares of Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a research note on Monday, December 22nd. Wells Fargo & Company downgraded Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price target on the stock. in a report on Friday, January 16th. Finally, Stephens restated an “equal weight” rating and set a $27.00 target price (down previously from $30.00) on shares of Regions Financial in a report on Tuesday, October 14th. Six research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $29.84.

Regions Financial Price Performance

Shares of RF stock traded down $0.16 on Monday, reaching $30.78. The company had a trading volume of 6,503,811 shares, compared to its average volume of 15,511,571. The business’s 50-day moving average is $27.85 and its 200 day moving average is $26.39. The stock has a market capitalization of $26.99 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 1.10 and a beta of 1.04. Regions Financial has a one year low of $17.74 and a one year high of $31.17. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23.

Regions Financial (NYSE:RF) last posted its quarterly earnings results 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). Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the firm posted $0.56 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities research analysts forecast that Regions Financial will post 2.26 EPS for the current fiscal year.

Regions Financial announced that its board has approved a share repurchase program on Wednesday, December 10th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the bank to repurchase up to 12.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the sale, the executive vice president directly owned 17,569 shares of the company’s stock, valued at approximately $505,635.82. This trade represents a 67.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Institutional Trading of Regions Financial

Several institutional investors have recently added to or reduced their stakes in the stock. Darwin Wealth Management LLC purchased a new stake in Regions Financial during the 2nd quarter worth about $25,000. CVA Family Office LLC boosted its position in Regions Financial by 163.2% during the second quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock worth $25,000 after acquiring an additional 656 shares during the last quarter. United Community Bank acquired a new stake in Regions Financial during the third quarter worth about $30,000. Spire Wealth Management boosted its position in Regions Financial by 91.5% in the 4th quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock valued at $32,000 after buying an additional 557 shares during the last quarter. Finally, Princeton Global Asset Management LLC raised its position in shares of Regions Financial by 260.4% during the 4th quarter. Princeton Global Asset Management LLC now owns 1,182 shares of the bank’s stock valued at $32,000 after acquiring an additional 854 shares in the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

About Regions Financial

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.