JPMorgan Chase & Co. Has Lowered Expectations for Regions Financial (NYSE:RF) Stock Price
JPMorgan Chase & Co. has lowered its target price for Regions Financial (NYSE:RF) from $26.00 to $23.00, maintaining a "neutral" rating. This suggests a potential upside of 4.40% from the current price. Other analysts have varied opinions, with Barclays setting a target of $26.00 and a rating of "underweight," while Compass Point raised their target to $31.00 with a "buy" rating. The consensus rating for Regions Financial is "Moderate Buy" with an average target of $26.95. The stock opened at $22.03, showing a 2.1% increase.
Regions Financial (NYSE:RF - Get Free Report) had its price target lowered by equities research analysts at JPMorgan Chase & Co. from $26.00 to $23.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the bank's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 4.40% from the company's current price.
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Other equities research analysts also recently issued research reports about the stock. Barclays lifted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the stock an "underweight" rating in a research report on Monday, January 6th. Compass Point lifted their price objective on Regions Financial from $25.00 to $31.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Wells Fargo & Company lowered their target price on Regions Financial from $28.00 to $26.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. Morgan Stanley restated an "equal weight" rating and set a $32.00 price target (up from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Finally, Truist Financial lowered their price objective on shares of Regions Financial from $26.00 to $24.00 and set a "hold" rating on the stock in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $26.95.
View Our Latest Stock Report on Regions Financial
Regions Financial Trading Up 2.1 %
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Shares of NYSE:RF opened at $22.03 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial has a 1 year low of $17.72 and a 1 year high of $27.96. The company has a market cap of $19.95 billion, a P/E ratio of 11.36, a PEG ratio of 1.93 and a beta of 1.19. The stock's fifty day moving average price is $23.09 and its 200-day moving average price is $23.93.
Regions Financial (NYSE:RF - Get Free Report) last posted its earnings results on Friday, January 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the business earned $0.39 EPS. The business's revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts expect that Regions Financial will post 2.26 earnings per share for the current year.
Insider Buying and Selling
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In other news, Director Joia M. Johnson bought 2,300 shares of Regions Financial stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $21.18 per share, with a total value of $48,714.00. Following the completion of the acquisition, the director now owns 17,486 shares of the company's stock, valued at $370,353.48. This trade represents a 15.15 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders purchased 3,868 shares of company stock worth $86,722. 0.29% of the stock is owned by insiders.
Hedge Funds Weigh In On Regions Financial
Several institutional investors have recently added to or reduced their stakes in RF. Y.D. More Investments Ltd raised its holdings in shares of Regions Financial by 122.9% during the 4th quarter. Y.D. More Investments Ltd now owns 1,150 shares of the bank's stock worth $27,000 after acquiring an additional 634 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Regions Financial during the fourth quarter valued at $28,000. Picton Mahoney Asset Management lifted its position in Regions Financial by 2,354.9% during the fourth quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank's stock valued at $29,000 after purchasing an additional 1,201 shares during the last quarter. Millstone Evans Group LLC bought a new position in Regions Financial during the fourth quarter valued at $32,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Regions Financial in the 3rd quarter worth $37,000. Hedge funds and other institutional investors own 79.39% of the company's stock.
Regions Financial Company Profile
(Get Free Report)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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