Regions Financial (NYSE:RF) Given New $28.00 Price Target at Piper Sandler

Regions Financial (NYSE:RF) had its price target reduced by analysts at Piper Sandler from $31.00 to $28.00 in a report released on Monday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. Piper Sandler’s price target suggests a potential upside of 10.91% from the company’s current price.

A number of other brokerages also recently issued reports on RF. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $31.00 price target on shares of Regions Financial in a research report on Tuesday, January 20th. Wells Fargo & Company downgraded shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price objective for the company. in a research report on Friday, January 16th. UBS Group reissued a “neutral” rating and issued a $30.00 price target on shares of Regions Financial in a research report on Wednesday, February 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $32.00 target price on shares of Regions Financial in a research report on Tuesday, March 3rd. Finally, Brean Capital began coverage on Regions Financial in a research report on Thursday, March 12th. They set a “neutral” rating on the stock. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $29.72.

Regions Financial Stock Performance

Shares of NYSE:RF traded up $0.09 on Monday, hitting $25.25. 7,707,827 shares of the company were exchanged, compared to its average volume of 15,314,854. The firm has a market capitalization of $21.80 billion, a P/E ratio of 11.02, a price-to-earnings-growth ratio of 0.91 and a beta of 1.02. The company has a current ratio of 0.80, a quick 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 stock’s 50 day moving average price is $27.97 and its 200 day moving average price is $26.75.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The business’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.56 EPS. Sell-side analysts predict that Regions Financial will post 2.26 EPS for the current year.

Regions Financial announced that its board has approved 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 buy up to 12.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Regions Financial

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

Institutional Trading of Regions Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. boosted its position in shares of Regions Financial by 5.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 70,801 shares of the bank’s stock worth $1,919,000 after buying an additional 3,893 shares during the period. World Investment Advisors lifted its position in Regions Financial by 11.1% in the fourth quarter. World Investment Advisors now owns 17,855 shares of the bank’s stock worth $484,000 after purchasing an additional 1,790 shares during the period. Nalls Sherbakoff Group LLC purchased a new position in Regions Financial in the 4th quarter worth about $1,443,000. Corient Private Wealth LLC lifted its stake in Regions Financial by 34.8% in the 4th quarter. Corient Private Wealth LLC now owns 120,539 shares of the bank’s stock worth $3,268,000 after acquiring an additional 31,148 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in Regions Financial by 1.1% during the 4th quarter. Hsbc Holdings PLC now owns 2,021,803 shares of the bank’s stock worth $54,831,000 after acquiring an additional 22,033 shares during the period. 79.39% of the stock is currently 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.