Regions Financial (NYSE:RF) Rating Lowered to Sell at Wall Street Zen

Regions Financial (NYSE:RF) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other analysts have also issued reports on RF. Weiss Ratings reissued a “buy (b-)” rating on shares of Regions Financial in a research report on Wednesday, October 8th. Cantor Fitzgerald started coverage on shares of Regions Financial in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $30.00 target price for the company. Truist Financial lowered their price target on shares of Regions Financial from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Monday, October 20th. Morgan Stanley set a $32.00 price objective on Regions Financial in a report on Monday, September 29th. Finally, Stephens restated an “equal weight” rating and issued a $27.00 target price (down previously from $30.00) on shares of Regions Financial in a research note on Tuesday, October 14th. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Regions Financial has a consensus rating of “Hold” and an average target price of $27.93.

Regions Financial Price Performance

Shares of NYSE:RF opened at $27.60 on Friday. The company’s fifty day moving average is $25.01 and its two-hundred day moving average is $24.97. The company has a market cap of $24.20 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 1.23 and a beta of 1.04. Regions Financial has a 12-month low of $17.74 and a 12-month high of $27.98. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.27.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Thursday, February 27th. The bank reported $0.39 earnings per share for the quarter. The business had revenue of $1.81 billion for the quarter. Regions Financial had a return on equity of 13.05% and a net margin of 22.49%. Equities analysts expect that Regions Financial will post 2.26 earnings per share for the current fiscal year.

Regions Financial declared that its Board of Directors has authorized a share buyback plan on Wednesday, December 10th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 12.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Regions Financial

Institutional investors have recently modified their holdings of the company. Commerzbank Aktiengesellschaft FI grew its position in shares of Regions Financial by 34.7% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 61,387 shares of the bank’s stock worth $1,444,000 after buying an additional 15,820 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Regions Financial by 3.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 8,972,531 shares of the bank’s stock worth $216,866,000 after acquiring an additional 325,382 shares during the period. Nordea Investment Management AB raised its position in shares of Regions Financial by 4.9% during the 2nd quarter. Nordea Investment Management AB now owns 419,311 shares of the bank’s stock valued at $9,913,000 after acquiring an additional 19,579 shares during the last quarter. Foster Victor Wealth Advisors LLC lifted its stake in shares of Regions Financial by 3.7% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 315,402 shares of the bank’s stock valued at $7,768,000 after purchasing an additional 11,391 shares during the period. Finally, Vise Technologies Inc. acquired a new position in shares of Regions Financial in the 2nd quarter valued at $419,000. 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.