Regions Financial (NYSE:RF) Given New $24.00 Price Target at Wells Fargo & Company

Regions Financial (NYSE:RF) had its target price raised by equities research analysts at Wells Fargo & Company from $22.00 to $24.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 1.52% from the company’s previous close.

RF has been the topic of several other research reports. Barclays lifted their price objective on Regions Financial from $22.00 to $25.00 and gave the stock an “underweight” rating in a report on Monday. Bank of America lifted their price target on shares of Regions Financial from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Wedbush upgraded shares of Regions Financial from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $23.00 to $28.00 in a research note on Tuesday, September 24th. Citigroup lifted their target price on shares of Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Royal Bank of Canada upped their target price on shares of Regions Financial from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Regions Financial has a consensus rating of “Hold” and a consensus price target of $23.64.

Regions Financial Price Performance

Shares of Regions Financial stock opened at $23.64 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $21.65 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 2.80 and a beta of 1.17. The firm has a fifty day moving average price of $22.76 and a two-hundred day moving average price of $20.94. Regions Financial has a fifty-two week low of $13.72 and a fifty-two week high of $24.47.

Regions Financial (NYSE:RF) 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 18.91% and a return on equity of 12.64%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the business posted $0.49 EPS. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. Analysts expect that Regions Financial will post 2.02 EPS for the current year.

Hedge Funds Weigh In On Regions Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of RF. EntryPoint Capital LLC bought a new position in Regions Financial during the first quarter worth about $26,000. American National Bank & Trust boosted its stake in Regions Financial by 1,856.7% during the 3rd quarter. American National Bank & Trust now owns 1,174 shares of the bank’s stock worth $27,000 after acquiring an additional 1,114 shares during the last quarter. Quarry LP grew its holdings in Regions Financial by 157.2% during the second quarter. Quarry LP now owns 1,335 shares of the bank’s stock valued at $27,000 after purchasing an additional 816 shares during the period. MV Capital Management Inc. grew its holdings in Regions Financial by 75.6% during the first quarter. MV Capital Management Inc. now owns 1,435 shares of the bank’s stock valued at $30,000 after purchasing an additional 618 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in Regions Financial by 530.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,493 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,256 shares in the last quarter. 79.39% of the stock is 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.