Regions Financial (NYSE:RF) Upgraded to “Neutral” at Robert W. Baird

Regions Financial (NYSE:RF) was upgraded by stock analysts at Robert W. Baird from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a $28.00 target price on the bank’s stock. Robert W. Baird’s price objective points to a potential downside of 1.74% from the stock’s current price.

A number of other research firms have also weighed in on RF. Truist Financial increased their price objective on shares of Regions Financial from $30.00 to $34.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Weiss Ratings restated a “buy (b)” rating on shares of Regions Financial in a research report on Friday, July 17th. Citigroup upped their target price on Regions Financial from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Stephens began coverage on Regions Financial in a report on Monday, June 15th. They issued an “equal weight” rating and a $31.00 price target on the stock. Finally, UBS Group raised their price target on Regions Financial from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.29.

Regions Financial Stock Up 0.1%

NYSE RF opened at $28.50 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26. Regions Financial has a 52 week low of $22.70 and a 52 week high of $32.47. The firm has a market capitalization of $24.28 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 1.16 and a beta of 0.99. The company has a fifty day moving average of $30.77 and a two-hundred day moving average of $28.82.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.05. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. On average, analysts predict that Regions Financial will post 2.63 earnings per share for the current year.

Hedge Funds Weigh In On Regions Financial

A number of institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC boosted its holdings in shares of Regions Financial by 72.4% in the second quarter. Integrated Wealth Concepts LLC now owns 68,965 shares of the bank’s stock valued at $2,083,000 after purchasing an additional 28,968 shares during the period. Nykredit A S bought a new stake in Regions Financial during the 2nd quarter valued at $236,756,000. Corient Private Wealth LP lifted its holdings in shares of Regions Financial by 4.8% in the 2nd quarter. Corient Private Wealth LP now owns 138,099 shares of the bank’s stock worth $4,170,000 after buying an additional 6,281 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Regions Financial by 3.7% in the 2nd quarter. HighTower Advisors LLC now owns 227,928 shares of the bank’s stock worth $6,883,000 after buying an additional 8,073 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Regions Financial during the 2nd quarter worth $26,043,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Company Profile

Regions Financial Corporation (NYSE: RF) is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumer, commercial and institutional customers.

Regions Bank offers checking and savings accounts, consumer loans, credit cards, mortgages, home equity products and other personal banking services. Its commercial and corporate offerings include business loans, treasury management, equipment financing, capital markets services and other solutions for companies, municipalities and institutions.