Wells Fargo & Company Forecasts Strong Price Appreciation for Regions Financial (NYSE:RF) Stock

Regions Financial (NYSE:RF) had its price objective hoisted by investment analysts at Wells Fargo & Company from $24.00 to $28.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 5.74% from the stock’s previous close.

Several other research analysts have also recently issued reports on RF. Stephens upgraded shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 target price for the company in a report on Tuesday, October 29th. Morgan Stanley boosted their target price on Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada boosted their price objective on Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. The Goldman Sachs Group lifted their target price on shares of Regions Financial from $25.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, DA Davidson raised their price objective on shares of Regions Financial from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.18.

Regions Financial Stock Up 0.8 %

RF stock opened at $26.48 on Friday. The company’s 50 day moving average price is $23.46 and its 200 day moving average price is $21.50. The firm has a market capitalization of $24.07 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 2.73 and a beta of 1.16. Regions Financial has a fifty-two week low of $15.79 and a fifty-two week high of $26.73. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.84.

Regions Financial (NYSE:RF) last announced its quarterly earnings data on Friday, October 18th. The bank reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the business posted $0.49 earnings per share. Regions Financial’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, equities research analysts anticipate that Regions Financial will post 2.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Sei Investments Co. raised its stake in Regions Financial by 1.3% in the 1st quarter. Sei Investments Co. now owns 471,222 shares of the bank’s stock valued at $9,914,000 after purchasing an additional 5,962 shares during the last quarter. Avantax Advisory Services Inc. acquired a new position in shares of Regions Financial in the first quarter valued at approximately $287,000. HBK Sorce Advisory LLC lifted its stake in shares of Regions Financial by 27.8% during the first quarter. HBK Sorce Advisory LLC now owns 15,075 shares of the bank’s stock valued at $317,000 after buying an additional 3,275 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its position in Regions Financial by 9.3% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 818,028 shares of the bank’s stock worth $17,049,000 after acquiring an additional 69,291 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Regions Financial during the first quarter worth approximately $829,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Company Profile

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.