Regions Financial (NYSE:RF) Price Target Lowered to $23.00 at JPMorgan Chase & Co.

Regions Financial (NYSE:RF) had its target price cut by investment analysts at JPMorgan Chase & Co. from $26.00 to $23.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 23.38% from the company’s current price.

A number of other brokerages have also recently weighed in on RF. Wells Fargo & Company dropped their price objective on shares of Regions Financial from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Friday, March 28th. Barclays raised their price target on Regions Financial from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Truist Financial reduced their price objective on Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Morgan Stanley reiterated an “equal weight” rating and set a $32.00 price objective (up previously from $28.00) on shares of Regions Financial in a research report on Monday, December 9th. Finally, Compass Point upped their target price on shares of Regions Financial from $25.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.95.

Regions Financial Stock Down 4.9 %

Regions Financial stock opened at $18.64 on Thursday. Regions Financial has a fifty-two week low of $17.72 and a fifty-two week high of $27.96. The firm has a market capitalization of $16.88 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 1.93 and a beta of 1.19. The stock’s fifty day moving average is $22.88 and its two-hundred day moving average is $23.87. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.84.

Regions Financial (NYSE:RF) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $0.39 EPS. Analysts predict that Regions Financial will post 2.26 EPS for the current fiscal year.

Insider Buying and Selling at Regions Financial

In other Regions Financial news, Director Joia M. Johnson purchased 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average price of $21.18 per share, for a total transaction of $48,714.00. Following the completion of the acquisition, the director now owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. This represents a 15.15 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders bought 3,868 shares of company stock valued at $86,722. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Regions Financial

Several institutional investors have recently bought and sold shares of the business. State Street Corp lifted its holdings in shares of Regions Financial by 16.3% during the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after acquiring an additional 7,791,399 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Regions Financial by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 29,183,580 shares of the bank’s stock valued at $686,398,000 after purchasing an additional 1,396,647 shares during the period. Geode Capital Management LLC lifted its stake in shares of Regions Financial by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank’s stock worth $540,284,000 after purchasing an additional 403,283 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Regions Financial by 7.7% in the fourth quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank’s stock worth $401,097,000 after buying an additional 1,224,645 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Regions Financial by 14.5% in the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank’s stock valued at $363,823,000 after buying an additional 1,963,954 shares in the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

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.