Several other analysts have also weighed in on the company. Morgan Stanley reaffirmed an "equal weight" rating and issued a $32.00 price objective (up from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Stephens raised Regions Financial from an "equal weight" rating to an "overweight" rating and set a $26.00 price objective on the stock in a research note on Tuesday, October 29th. Piper Sandler lifted their price target on shares of Regions Financial from $25.00 to $29.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Compass Point increased their price objective on shares of Regions Financial from $25.00 to $31.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company upped their price target on Regions Financial from $24.00 to $28.00 and gave the company an "equal weight" rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Regions Financial has an average rating of "Moderate Buy" and a consensus price target of $27.67.
Read Our Latest Report on RF
Shares of NYSE RF traded up $0.49 during trading hours on Monday, hitting $24.11. 3,647,712 shares of the company's stock were exchanged, compared to its average volume of 6,371,098. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.84 and a quick ratio of 0.83. The company's 50-day moving average price is $25.20 and its 200-day moving average price is $23.07. Regions Financial has a 1-year low of $17.42 and a 1-year high of $27.96. The stock has a market capitalization of $21.91 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 2.64 and a beta of 1.21.
Regions Financial (NYSE:RF - Get Free Report) last released its earnings results on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the company posted $0.49 EPS. The company's quarterly revenue was down 3.7% compared to the same quarter last year. On average, sell-side analysts expect that Regions Financial will post 2.12 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised its position in Regions Financial by 16.3% in the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank's stock worth $1,306,813,000 after purchasing an additional 7,791,399 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Regions Financial by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 27,786,933 shares of the bank's stock valued at $648,269,000 after purchasing an additional 816,226 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Regions Financial by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 22,625,214 shares of the bank's stock worth $526,118,000 after buying an additional 315,605 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Regions Financial by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank's stock worth $285,562,000 after buying an additional 979,597 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Regions Financial by 13.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank's stock valued at $201,238,000 after buying an additional 1,014,706 shares during the period. 79.39% of the stock is owned by institutional investors.
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].
Before you consider Regions Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Regions Financial wasn't on the list.
While Regions Financial currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.