Regions Financial (NYSE:RF) Stock Price Target Lowered at Cantor Fitzgerald

Regions Financial (NYSE:RF) had its price target decreased by analysts at Cantor Fitzgerald from $35.00 to $32.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the bank’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 18.49% from the company’s previous close.

RF has been the subject of several other research reports. DA Davidson increased their price objective on Regions Financial from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Evercore reissued an “underperform” rating and issued a $31.00 price objective on shares of Regions Financial in a research report on Monday, July 6th. Jefferies Financial Group restated a “hold” rating and set a $32.00 target price on shares of Regions Financial in a research note on Friday, July 17th. Keefe, Bruyette & Woods upped their target price on Regions Financial from $32.00 to $33.00 and gave the company a “market perform” rating in a research report on Monday, July 20th. Finally, Wells Fargo & Company increased their price target on Regions Financial from $28.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, July 6th. Five research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Regions Financial currently has a consensus rating of “Hold” and a consensus price target of $31.53.

Regions Financial Trading Down 1.3%

NYSE RF opened at $27.01 on Wednesday. Regions Financial has a 52 week low of $22.70 and a 52 week high of $32.47. The company has a 50 day moving average price of $29.38 and a 200 day moving average price of $28.96. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.26. The firm has a market cap of $23.01 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 1.13 and a beta of 1.05.

Regions Financial (NYSE:RF) last announced its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.05. Regions Financial had a net margin of 23.33% and a return on equity of 12.88%. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the firm earned $0.60 earnings per share. Regions Financial’s revenue was up .1% compared to the same quarter last year. As a group, sell-side analysts forecast that Regions Financial will post 2.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Eastern Bank grew its holdings in shares of Regions Financial by 30.7% during the third quarter. Eastern Bank now owns 3,839 shares of the bank’s stock valued at $103,000 after buying an additional 901 shares during the last quarter. Rockland Trust Co. increased its position in shares of Regions Financial by 3.8% in the 3rd quarter. Rockland Trust Co. now owns 50,142 shares of the bank’s stock valued at $1,348,000 after acquiring an additional 1,829 shares during the period. QRG Capital Management Inc. increased its position in shares of Regions Financial by 13.1% in the 2nd quarter. QRG Capital Management Inc. now owns 144,105 shares of the bank’s stock valued at $4,352,000 after acquiring an additional 16,681 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in Regions Financial by 12.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 733,501 shares of the bank’s stock worth $22,152,000 after acquiring an additional 80,181 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Regions Financial by 433.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,129,927 shares of the bank’s stock worth $64,324,000 after acquiring an additional 1,730,874 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

About Regions Financial

Regions Financial Corporation (NYSE: RF) is a financial services company headquartered in Birmingham, Alabama. Through its principal subsidiary, Regions Bank, the company provides banking and related financial services to consumers, businesses, and institutions.

Regions offers a range of products and services, including checking and savings accounts, consumer and commercial loans, mortgages, credit cards, treasury and cash-management services, investment and wealth-management solutions, and capital-markets services.