JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Regions Financial (NYSE:RF) Stock

Regions Financial (NYSE:RF) had its price objective upped by equities researchers at JPMorgan Chase & Co. from $29.00 to $31.50 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 2.36% from the company’s current price.

Several other research firms also recently issued reports on RF. Stephens restated an “equal weight” rating and set a $27.00 price objective (down from $30.00) on shares of Regions Financial in a report on Tuesday, October 14th. Morgan Stanley set a $31.00 price target on shares of Regions Financial in a research note on Monday, January 19th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $31.00 price target on shares of Regions Financial in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Regions Financial in a research report on Monday, December 29th. Finally, TD Cowen reiterated a “buy” rating on shares of Regions Financial in a report on Tuesday, October 21st. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $29.84.

Regions Financial Trading Down 0.5%

Shares of NYSE:RF traded down $0.16 during trading on Monday, reaching $30.78. The stock had a trading volume of 6,503,811 shares, compared to its average volume of 15,511,571. Regions Financial has a fifty-two week low of $17.74 and a fifty-two week high of $31.17. The business has a fifty day moving average price of $27.85 and a 200-day moving average price of $26.39. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.23. The stock has a market cap of $26.99 billion, a P/E ratio of 13.46, a PEG ratio of 1.10 and a beta of 1.04.

Regions Financial (NYSE:RF) last released its earnings results on Friday, January 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.04). The company 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%. Regions Financial’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.56 earnings per share. As a group, analysts anticipate that Regions Financial will post 2.26 earnings per share for the current fiscal year.

Regions Financial declared that its board has authorized a stock buyback program on Wednesday, December 10th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the bank to purchase up to 12.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Regions Financial

In other Regions Financial news, EVP William D. Ritter sold 36,000 shares of the stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $28.78, for a total transaction of $1,036,080.00. Following the completion of the transaction, the executive vice president owned 17,569 shares in the company, valued at approximately $505,635.82. This represents a 67.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Regions Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in RF. GAM Holding AG bought a new position in shares of Regions Financial during the 3rd quarter worth approximately $1,760,000. Allspring Global Investments Holdings LLC lifted its position in Regions Financial by 2.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,205,989 shares of the bank’s stock valued at $241,289,000 after purchasing an additional 233,458 shares during the period. First Citizens Bank & Trust Co. grew its stake in shares of Regions Financial by 6.8% during the third quarter. First Citizens Bank & Trust Co. now owns 690,344 shares of the bank’s stock worth $18,204,000 after purchasing an additional 44,252 shares during the period. iA Global Asset Management Inc. bought a new stake in shares of Regions Financial in the 3rd quarter valued at $1,378,000. Finally, Teacher Retirement System of Texas lifted its stake in Regions Financial by 111.2% in the third quarter. Teacher Retirement System of Texas now owns 290,563 shares of the bank’s stock valued at $7,662,000 after buying an additional 152,987 shares in the last quarter. 79.39% of the stock is currently owned by institutional investors and hedge funds.

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.