Piper Sandler Issues Pessimistic Forecast for Regions Financial (NYSE:RF) Stock Price

Regions Financial (NYSE:RF) had its target price cut by investment analysts at Piper Sandler from $31.00 to $28.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. Piper Sandler’s price target points to a potential upside of 10.91% from the company’s previous close.

Several other brokerages have also issued reports on RF. Wall Street Zen lowered shares of Regions Financial from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. The Goldman Sachs Group reiterated a “buy” rating and set a $32.00 price objective on shares of Regions Financial in a report on Tuesday, January 6th. Truist Financial reduced their target price on Regions Financial from $29.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, March 23rd. 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 research note on Friday, January 16th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $31.00 price objective on shares of Regions Financial in a report on Tuesday, January 20th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Regions Financial has an average rating of “Hold” and a consensus target price of $29.72.

Regions Financial Trading Up 0.3%

Shares of RF stock traded up $0.09 during mid-day trading on Monday, reaching $25.25. 7,707,827 shares of the stock traded hands, compared to its average volume of 15,314,854. 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 has a 1-year low of $17.74 and a 1-year high of $31.53. The company has a market cap of $21.80 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 0.91 and a beta of 1.02. The stock’s fifty day simple moving average is $27.97 and its two-hundred day simple moving average is $26.75.

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

Regions Financial announced that its board has initiated a stock buyback program on Wednesday, December 10th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the bank to purchase up to 12.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP William D. Ritter sold 36,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 17,569 shares of the company’s stock, valued at $505,635.82. This trade represents a 67.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by insiders.

Hedge Funds Weigh In On Regions Financial

A number of large investors have recently made changes to their positions in RF. GAM Holding AG purchased a new stake in Regions Financial during the third quarter valued at approximately $1,760,000. Allspring Global Investments Holdings LLC increased its position in shares of Regions Financial by 2.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank’s stock worth $241,289,000 after purchasing an additional 233,458 shares in the last quarter. First Citizens Bank & Trust Co. lifted its holdings in shares of Regions Financial by 6.8% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 690,344 shares of the bank’s stock valued at $18,204,000 after purchasing an additional 44,252 shares during the last quarter. iA Global Asset Management Inc. acquired a new stake in shares of Regions Financial in the 3rd quarter worth $1,378,000. Finally, Teacher Retirement System of Texas increased its position in Regions Financial by 111.2% during the 3rd quarter. Teacher Retirement System of Texas now owns 290,563 shares of the bank’s stock valued at $7,662,000 after buying an additional 152,987 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

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.