Regions Financial (NYSE:RF) Stock Price Target Cut by Citigroup

Regions Financial (NYSE:RF) had its target price decreased by equities researchers at Citigroup from $36.00 to $32.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the bank’s stock. Citigroup’s price target indicates a potential upside of 14.06% from the stock’s current price.

Several other equities research analysts have also recently commented on RF. Keefe, Bruyette & Woods lifted their target price on Regions Financial from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Monday, July 20th. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price target on shares of Regions Financial in a research note on Friday, July 17th. Brean Capital upgraded shares of Regions Financial from a “neutral” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $32.00 target price on shares of Regions Financial in a research note on Wednesday. Finally, Evercore reaffirmed an “underperform” rating and issued a $31.00 target price on shares of Regions Financial in a research note on Monday, July 6th. Seven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Regions Financial presently has an average rating of “Hold” and a consensus target price of $31.12.

Regions Financial Price Performance

Regions Financial stock traded up $0.20 during trading hours on Wednesday, hitting $28.05. 5,391,291 shares of the stock were exchanged, compared to its average volume of 11,609,918. The stock has a market capitalization of $23.90 billion, a P/E ratio of 11.00, a P/E/G ratio of 1.11 and a beta of 1.05. The business’s 50-day moving average is $28.97 and its two-hundred day moving average is $29.02. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.81 and a current ratio of 0.82. Regions Financial has a 12 month low of $23.59 and a 12 month high of $32.47.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, October 16th. The bank reported $0.73 EPS for the quarter, topping the consensus estimate of $0.67 by $0.06. Regions Financial had a return on equity of 13.43% and a net margin of 23.97%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the previous year, the business earned $0.63 EPS. Regions Financial’s revenue was up 3.0% compared to the same quarter last year. Equities research analysts expect that Regions Financial will post 2.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Regions Financial by 12.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 119,028 shares of the bank’s stock worth $3,199,000 after acquiring an additional 13,064 shares during the period. Investment Research Partners LLC increased its stake in Regions Financial by 9.3% during the 3rd quarter. Investment Research Partners LLC now owns 40,158 shares of the bank’s stock worth $1,079,000 after acquiring an additional 3,408 shares during the period. First Bank & Trust increased its position in shares of Regions Financial by 423.4% in the third quarter. First Bank & Trust now owns 67,686 shares of the bank’s stock worth $1,819,000 after purchasing an additional 54,755 shares during the period. V Square Quantitative Management LLC raised its stake in Regions Financial by 5.8% in the third quarter. V Square Quantitative Management LLC now owns 35,424 shares of the bank’s stock valued at $952,000 after purchasing an additional 1,947 shares in the last quarter. Finally, Eastern Bank raised its stake in Regions Financial by 30.7% in the third quarter. Eastern Bank now owns 3,839 shares of the bank’s stock valued at $103,000 after purchasing an additional 901 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumers, businesses, institutions and governments.

Regions Bank offers checking and savings accounts, consumer and commercial loans, credit products, mortgages, treasury and cash-management services, investment and wealth-management solutions, and insurance-related services.