Citigroup Cuts Regions Financial (NYSE:RF) Price Target to $25.00

Regions Financial (NYSE:RF) had its target price decreased by analysts at Citigroup from $28.00 to $25.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the bank’s stock. Citigroup’s price objective indicates a potential upside of 12.46% from the company’s current price.

A number of other research analysts have also recently issued reports on the stock. Truist Financial dropped their target price on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a report on Friday. Piper Sandler lifted their price objective on Regions Financial from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Barclays upped their target price on Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, January 6th. Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 price target (up previously from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Finally, The Goldman Sachs Group raised their target price on shares of Regions Financial from $29.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Regions Financial has a consensus rating of “Moderate Buy” and an average price target of $27.28.

Regions Financial Price Performance

RF stock traded up $0.52 on Monday, reaching $22.23. 875,568 shares of the company’s stock were exchanged, compared to its average volume of 8,716,195. Regions Financial has a twelve month low of $17.72 and a twelve month high of $27.96. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The stock has a fifty day moving average of $23.46 and a 200-day moving average of $23.96. The firm has a market cap of $20.13 billion, a PE ratio of 11.46, a P/E/G ratio of 1.93 and a beta of 1.19.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the company posted $0.39 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities analysts predict that Regions Financial will post 2.26 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Joia M. Johnson purchased 2,300 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price of $21.18 per share, with a total value of $48,714.00. Following the completion of the transaction, the director now owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders have acquired 3,993 shares of company stock worth $89,682. 0.29% of the stock is owned by company insiders.

Hedge Funds Weigh In On Regions Financial

A number of hedge funds have recently made changes to their positions in RF. Quarry LP grew its holdings in shares of Regions Financial by 29.5% during the 3rd quarter. Quarry LP now owns 1,729 shares of the bank’s stock worth $40,000 after purchasing an additional 394 shares during the period. Ballentine Partners LLC lifted its position in Regions Financial by 2.5% during the fourth quarter. Ballentine Partners LLC now owns 17,458 shares of the bank’s stock valued at $411,000 after buying an additional 420 shares in the last quarter. Prossimo Advisors LLC grew its stake in Regions Financial by 2.3% during the fourth quarter. Prossimo Advisors LLC now owns 19,270 shares of the bank’s stock worth $453,000 after buying an additional 430 shares during the period. Greenleaf Trust increased its position in shares of Regions Financial by 1.8% in the fourth quarter. Greenleaf Trust now owns 24,382 shares of the bank’s stock worth $573,000 after acquiring an additional 436 shares in the last quarter. Finally, Lake Street Advisors Group LLC raised its stake in shares of Regions Financial by 2.3% in the 4th quarter. Lake Street Advisors Group LLC now owns 19,173 shares of the bank’s stock valued at $456,000 after acquiring an additional 436 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

About Regions Financial

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.