Regions Financial (NYSE:RF) Given Market Perform Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their market perform rating on shares of Regions Financial (NYSE:RF) in a report issued on Tuesday morning, MarketBeat.com reports. They currently have a $31.00 price objective on the bank’s stock.

A number of other research firms have also recently commented on RF. Weiss Ratings reiterated a “buy (b)” rating on shares of Regions Financial in a research note on Monday, December 29th. Wall Street Zen cut shares of Regions Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Piper Sandler boosted their price objective on shares of Regions Financial from $29.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday. The Goldman Sachs Group reissued a “buy” rating and issued a $32.00 target price on shares of Regions Financial in a research report on Tuesday, January 6th. Finally, Barclays raised their target price on Regions Financial from $27.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, January 5th. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $29.27.

Regions Financial Stock Down 0.6%

Regions Financial stock opened at $27.62 on Tuesday. Regions Financial has a 1-year low of $17.74 and a 1-year high of $29.25. The business has a fifty day moving average price of $26.80 and a 200-day moving average price of $26.03. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $24.22 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 0.99 and a beta of 1.03.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Regions Financial had a net margin of 22.44% and a return on equity of 12.55%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 earnings per share. Equities research analysts forecast that Regions Financial will post 2.26 EPS for the current fiscal year.

Regions Financial announced that its board has approved a stock repurchase plan on Wednesday, December 10th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the bank to repurchase up to 12.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Regions Financial

Several institutional investors and hedge funds have recently modified their holdings of RF. American National Bank & Trust grew its holdings in Regions Financial by 2,433.3% during the second quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock worth $25,000 after acquiring an additional 1,022 shares during the period. CVA Family Office LLC boosted its position in Regions Financial by 163.2% in the 2nd quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock worth $25,000 after purchasing an additional 656 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in Regions Financial in the 2nd quarter worth approximately $25,000. FNY Investment Advisers LLC acquired a new stake in shares of Regions Financial during the 2nd quarter worth approximately $30,000. Finally, United Community Bank purchased a new position in shares of Regions Financial during the 3rd quarter valued at approximately $30,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

Regions Financial Company Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.