Evercore ISI Boosts Regions Financial (NYSE:RF) Price Target to $22.00

Regions Financial (NYSE:RF) had its price target lifted by equities researchers at Evercore ISI from $20.00 to $22.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “in-line” rating on the bank’s stock. Evercore ISI’s price objective points to a potential upside of 5.72% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Keefe, Bruyette & Woods lifted their price target on Regions Financial from $20.00 to $21.00 and gave the stock a “market perform” rating in a research report on Monday, January 22nd. Royal Bank of Canada lifted their price objective on Regions Financial from $19.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Piper Sandler lifted their price objective on Regions Financial from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, December 8th. Argus downgraded Regions Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Finally, Jefferies Financial Group upgraded Regions Financial from a “hold” rating to a “buy” rating and boosted their price target for the company from $15.00 to $22.00 in a research note on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.28.

Regions Financial Price Performance

NYSE RF traded up $0.13 on Thursday, reaching $20.81. 1,465,983 shares of the company’s stock traded hands, compared to its average volume of 8,989,477. Regions Financial has a 12 month low of $13.72 and a 12 month high of $21.02. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a 50-day simple moving average of $18.88 and a 200 day simple moving average of $17.71. The stock has a market cap of $19.12 billion, a PE ratio of 9.99, a P/E/G ratio of 1.44 and a beta of 1.19.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, January 19th. The bank reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.09). The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.80 billion. Regions Financial had a return on equity of 14.50% and a net margin of 22.66%. The firm’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.67 EPS. As a group, research analysts predict that Regions Financial will post 1.98 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dark Forest Capital Management LP acquired a new stake in shares of Regions Financial in the 1st quarter valued at about $26,000. Laurel Wealth Advisors LLC lifted its position in Regions Financial by 86.5% during the 4th quarter. Laurel Wealth Advisors LLC now owns 1,399 shares of the bank’s stock worth $27,000 after acquiring an additional 649 shares during the period. ICA Group Wealth Management LLC acquired a new stake in Regions Financial during the 4th quarter worth approximately $28,000. Sound Income Strategies LLC lifted its position in Regions Financial by 103.2% during the 4th quarter. Sound Income Strategies LLC now owns 1,477 shares of the bank’s stock worth $29,000 after acquiring an additional 750 shares during the period. Finally, Moisand Fitzgerald Tamayo LLC acquired a new stake in Regions Financial during the 3rd quarter worth approximately $26,000. 79.39% of the stock is owned by institutional investors and hedge funds.

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.