Keefe, Bruyette & Woods Downgrades Regions Financial (NYSE:RF) to Hold

Regions Financial (NYSE:RF) was downgraded by Keefe, Bruyette & Woods from a “moderate buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Other analysts also recently issued research reports about the company. Piper Sandler boosted their target price on Regions Financial from $29.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday. Truist Financial lifted their price target on shares of Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a research note on Monday, December 22nd. Wall Street Zen lowered shares of Regions Financial from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Wells Fargo & Company cut shares of Regions Financial from an “equal weight” rating to an “underweight” rating and set a $30.00 price objective for the company. in a research note on Friday. Finally, Citigroup lifted their target price on shares of Regions Financial from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $29.27.

Regions Financial Price Performance

Shares of NYSE:RF opened at $27.62 on Monday. The company has a 50 day moving average of $26.80 and a 200 day moving average of $26.03. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.23. The stock has a market cap of $24.22 billion, a P/E ratio of 12.06, a P/E/G ratio of 0.99 and a beta of 1.03. Regions Financial has a 12 month low of $17.74 and a 12 month high of $29.25.

Regions Financial (NYSE:RF) last released its quarterly earnings results on Friday, January 16th. The bank reported $0.57 earnings per share for the quarter, missing the consensus estimate 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 business’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.56 EPS. As a group, sell-side analysts forecast that Regions Financial will post 2.26 EPS for the current fiscal year.

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

Institutional Trading of Regions Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Darwin Wealth Management LLC bought a new position in Regions Financial during the 2nd quarter valued at approximately $25,000. CVA Family Office LLC boosted its holdings in Regions Financial by 163.2% in the second quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock worth $25,000 after acquiring an additional 656 shares in the last quarter. American National Bank & Trust grew its stake in shares of Regions Financial by 2,433.3% in 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 last quarter. United Community Bank bought a new position in shares of Regions Financial during the third quarter valued at $30,000. Finally, Spire Wealth Management increased its holdings in shares of Regions Financial by 91.5% during the fourth quarter. Spire Wealth Management now owns 1,166 shares of the bank’s stock valued at $32,000 after acquiring an additional 557 shares in the last quarter. 79.39% of the stock is owned by hedge funds and other institutional investors.

About Regions Financial

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.