StockNews.com Upgrades Regions Financial (NYSE:RF) to "Hold"

Jul 06, 2023

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.

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