TD Cowen Begins Coverage on Regions Financial (NYSE:RF)

Stock analysts at TD Cowen assumed coverage on shares of Regions Financial (NYSE:RF) in a report released on Thursday, MarketBeat Ratings reports. The firm set a “buy” rating and a $31.00 price target on the bank’s stock. TD Cowen’s target price indicates a potential upside of 37.20% from the company’s previous close.

A number of other brokerages have also recently weighed in on RF. JPMorgan Chase & Co. decreased their price target on shares of Regions Financial from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Truist Financial lowered their price target on shares of Regions Financial from $24.00 to $21.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. Stephens decreased their price target on Regions Financial from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. The Goldman Sachs Group dropped their price target on Regions Financial from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, Barclays reduced their price objective on Regions Financial from $26.00 to $24.00 and set an “underweight” rating on the stock in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.80.

Regions Financial Price Performance

RF stock opened at $22.60 on Thursday. Regions Financial has a 52-week low of $17.72 and a 52-week high of $27.96. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.37. The stock has a market cap of $20.31 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 1.93 and a beta of 0.97. The business has a fifty day moving average of $20.69 and a two-hundred day moving average of $23.22.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. Regions Financial had a return on equity of 12.83% and a net margin of 20.20%. During the same period last year, the business posted $0.37 earnings per share. As a group, research analysts anticipate that Regions Financial will post 2.26 earnings per share for the current year.

Insider Activity

In other Regions Financial news, Director Joia M. Johnson purchased 2,300 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $21.18 per share, with a total value of $48,714.00. Following the completion of the purchase, the director now owns 17,486 shares in the company, valued at $370,353.48. This trade represents a 15.15% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its position in Regions Financial by 3.7% during the first quarter. Wellington Management Group LLP now owns 44,211,562 shares of the bank’s stock valued at $960,717,000 after acquiring an additional 1,562,512 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Regions Financial by 6.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 31,092,742 shares of the bank’s stock valued at $675,645,000 after buying an additional 1,909,162 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Regions Financial by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank’s stock worth $540,284,000 after acquiring an additional 403,283 shares during the period. Invesco Ltd. lifted its position in shares of Regions Financial by 35.7% during the 1st quarter. Invesco Ltd. now owns 20,990,446 shares of the bank’s stock worth $456,122,000 after buying an additional 5,521,772 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Regions Financial by 7.7% during the 4th quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank’s stock valued at $401,097,000 after purchasing an additional 1,224,645 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

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.