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Aug 15, 2023StockNews.com Upgrades Regions Financial (NYSE:RF) to "Hold"
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Regions Financial (NYSE:RF - Get Free Report) was upgraded by StockNews.com from a "sell" rating to a "hold" rating in a research report issued on Friday.
A number of other analysts also recently weighed in on RF. Stephens reiterated an "equal weight" rating and issued a $20.00 price target on shares of Regions Financial in a research report on Monday, August 7th. Citigroup raised their price target on shares of Regions Financial from $20.00 to $21.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 25th. Morgan Stanley raised their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company an "overweight" rating in a research note on Monday, July 24th. Wedbush reissued an "outperform" rating and issued a $22.00 target price on shares of Regions Financial in a research note on Monday, July 24th. Finally, DA Davidson raised their target price on shares of Regions Financial from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Monday, July 24th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.03.
View Our Latest Research Report on RF
Regions Financial stock traded down $0.23 during trading hours on Friday, reaching $18.54. 4,913,693 shares of the company's stock traded hands, compared to its average volume of 9,792,064. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.83 and a current ratio of 0.84. Regions Financial has a fifty-two week low of $13.94 and a fifty-two week high of $24.33. The firm has a market capitalization of $17.40 billion, a price-to-earnings ratio of 7.92, a PEG ratio of 1.14 and a beta of 1.18. The firm's 50 day moving average is $19.16 and its 200-day moving average is $19.21.
Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.59 earnings per share for the quarter, meeting analysts' consensus estimates of $0.59. The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.95 billion. Regions Financial had a net margin of 26.86% and a return on equity of 16.54%. Regions Financial's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the company posted $0.59 EPS. On average, analysts predict that Regions Financial will post 2.36 earnings per share for the current year.
In related news, EVP Ronald G. Smith sold 10,000 shares of the business's stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $20.93, for a total value of $209,300.00. Following the completion of the transaction, the executive vice president now owns 281,151 shares of the company's stock, valued at $5,884,490.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.32% of the company's stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Virginia Retirement Systems ET AL acquired a new position in Regions Financial in the second quarter valued at about $19,181,000. Osaic Holdings Inc. grew its position in Regions Financial by 0.9% in the second quarter. Osaic Holdings Inc. now owns 295,395 shares of the bank's stock valued at $5,351,000 after acquiring an additional 2,520 shares during the last quarter. Principal Street Partners LLC grew its position in Regions Financial by 3.4% in the second quarter. Principal Street Partners LLC now owns 253,757 shares of the bank's stock valued at $4,522,000 after acquiring an additional 8,451 shares during the last quarter. Nuveen Asset Management LLC grew its position in Regions Financial by 0.5% in the second quarter. Nuveen Asset Management LLC now owns 4,764,417 shares of the bank's stock valued at $84,902,000 after acquiring an additional 24,549 shares during the last quarter. Finally, National Pension Service grew its position in Regions Financial by 2.8% in the second quarter. National Pension Service now owns 1,546,650 shares of the bank's stock valued at $27,360,000 after acquiring an additional 42,382 shares during the last quarter. Institutional investors and hedge funds own 73.71% of the company's stock.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
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