Regions Financial (NYSE:RF) Price Target Lowered to $26.00 at Wells Fargo & Company

Regions Financial (NYSE:RF) had its price objective cut by equities researchers at Wells Fargo & Company from $28.00 to $26.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 20.40% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Morgan Stanley restated an “equal weight” rating and set a $32.00 price target (up previously from $28.00) on shares of Regions Financial in a report on Monday, December 9th. Truist Financial dropped their price target on Regions Financial from $26.00 to $24.00 and set a “hold” rating for the company in a research note on Friday, March 21st. Piper Sandler boosted their price objective on shares of Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Compass Point boosted their price target on shares of Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Citigroup lowered their price target on shares of Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.17.

Regions Financial Price Performance

NYSE RF traded down $0.34 during trading hours on Friday, reaching $21.59. 311,976 shares of the stock traded hands, compared to its average volume of 7,448,098. The stock has a 50 day simple moving average of $23.30 and a two-hundred day simple moving average of $23.93. Regions Financial has a 1 year low of $17.72 and a 1 year high of $27.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. The company has a market cap of $19.55 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19.

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

Insider Activity at Regions Financial

In other Regions Financial news, Director Joia M. Johnson bought 2,300 shares of Regions Financial stock in a transaction on Tuesday, March 11th. The shares were acquired at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the purchase, the director now directly owns 17,486 shares in the company, valued at approximately $370,353.48. This trade represents a 15.15 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders bought 3,993 shares of company stock valued at $89,682. Insiders own 0.29% of the company’s stock.

Institutional Trading of Regions Financial

Several institutional investors and hedge funds have recently made changes to their positions in the company. 111 Capital purchased a new position in Regions Financial in the fourth quarter worth $204,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Regions Financial by 51.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 229,249 shares of the bank’s stock valued at $5,392,000 after acquiring an additional 77,586 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Regions Financial in the 4th quarter valued at approximately $307,000. Siemens Fonds Invest GmbH raised its position in shares of Regions Financial by 345.8% in the 4th quarter. Siemens Fonds Invest GmbH now owns 44,148 shares of the bank’s stock valued at $1,038,000 after purchasing an additional 34,244 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Regions Financial during the 4th quarter worth approximately $16,421,000. 79.39% of the stock is currently owned by institutional investors.

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.