The Goldman Sachs Group Forecasts Strong Price Appreciation for Regions Financial (NYSE:RF) Stock

Regions Financial (NYSE:RF) had its target price upped by The Goldman Sachs Group from $29.00 to $33.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 21.06% from the stock’s current price.

A number of other equities analysts also recently commented on RF. StockNews.com upgraded Regions Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Stephens raised shares of Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 price target for the company in a report on Tuesday, October 29th. Truist Financial lifted their price objective on shares of Regions Financial from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Barclays raised their price target on shares of Regions Financial from $22.00 to $25.00 and gave the company an “underweight” rating in a research note on Monday, October 21st. Finally, Morgan Stanley increased their price objective on Regions Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.71.

Regions Financial Trading Down 0.8 %

RF opened at $27.26 on Tuesday. The firm’s 50 day moving average is $24.16 and its 200-day moving average is $21.91. The firm has a market capitalization of $24.78 billion, a P/E ratio of 15.65, a P/E/G ratio of 2.83 and a beta of 1.16. Regions Financial has a 52-week low of $15.79 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 0.35.

Regions Financial (NYSE:RF) last issued its quarterly earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a net margin of 18.78% and a return on equity of 12.60%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 EPS. Analysts expect that Regions Financial will post 2.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Regions Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in RF. State Street Corp increased its stake in shares of Regions Financial by 16.3% in the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after purchasing an additional 7,791,399 shares during the period. National Bank of Canada FI lifted its position in Regions Financial by 575.8% in the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock worth $39,784,000 after purchasing an additional 1,452,956 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Regions Financial by 13.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock worth $201,238,000 after buying an additional 1,014,706 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Regions Financial by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after buying an additional 979,597 shares during the period. Finally, Swedbank AB bought a new position in shares of Regions Financial during the 1st quarter worth about $19,322,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

Regions Financial Company Profile

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.