Regions Financial (NYSE:RF) Stock Rating Upgraded by Robert W. Baird

Regions Financial (NYSE:RF) was upgraded by Robert W. Baird from an “underperform” rating to a “neutral” rating in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage presently has a $28.00 price objective on the bank’s stock. Robert W. Baird’s price target points to a potential upside of 2.77% from the stock’s previous close.

Several other research firms have also recently commented on RF. DA Davidson lifted their target price on Regions Financial from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Wells Fargo & Company lifted their target price on Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, July 6th. Truist Financial lifted their target price on Regions Financial from $30.00 to $34.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price objective on shares of Regions Financial in a research note on Friday, July 17th. Finally, Stephens began coverage on Regions Financial in a research note on Monday, June 15th. They issued an “equal weight” rating and a $31.00 target price for the company. Six 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 MarketBeat.com, Regions Financial presently has a consensus rating of “Hold” and an average price target of $32.12.

Regions Financial Price Performance

RF traded down $0.15 during trading on Friday, hitting $27.25. The company’s stock had a trading volume of 8,723,766 shares, compared to its average volume of 11,592,182. The firm’s 50 day moving average price is $30.43 and its two-hundred day moving average price is $28.83. 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 12 month low of $22.70 and a 12 month high of $32.47. The stock has a market capitalization of $23.21 billion, a price-to-earnings ratio of 11.12, a price-to-earnings-growth ratio of 1.14 and a beta of 0.99.

Regions Financial (NYSE:RF) last released its earnings results on Friday, July 17th. The bank reported $0.68 EPS for the quarter, beating the consensus estimate of $0.63 by $0.05. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the firm earned $0.60 EPS. Sell-side analysts forecast that Regions Financial will post 2.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Regions Financial

Several hedge funds have recently modified their holdings of the company. WPG Advisers LLC raised its position in shares of Regions Financial by 83.5% in the 2nd quarter. WPG Advisers LLC now owns 813 shares of the bank’s stock worth $25,000 after acquiring an additional 370 shares in the last quarter. Keating Financial Advisory Services Inc. bought a new position in shares of Regions Financial in the 2nd quarter worth about $25,000. Trust Co. of Vermont acquired a new stake in shares of Regions Financial in the 2nd quarter valued at about $26,000. Gables Capital Management Inc. acquired a new stake in shares of Regions Financial in the 2nd quarter valued at about $30,000. Finally, SouthState Bank Corp boosted its stake in Regions Financial by 94.1% during the 4th quarter. SouthState Bank Corp now owns 1,110 shares of the bank’s stock valued at $30,000 after purchasing an additional 538 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

About Regions Financial

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.