Fintel reports that on July 25, 2023, Goldman Sachs maintained coverage of Regions Financial (NYSE:RF) with a Buy recommendation.

Analyst Price Forecast Suggests 8.16% Upside

As of July 6, 2023, the average one-year price target for Regions Financial is 21.63. The forecasts range from a low of 19.19 to a high of $26.25. The average price target represents an increase of 8.16% from its latest reported closing price of 20.00.

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The projected annual revenue for Regions Financial is 7,952MM, an increase of 9.31%. The projected annual non-GAAP EPS is 2.59.

What is the Fund Sentiment?

There are 1591 funds or institutions reporting positions in Regions Financial. This is a decrease of 16 owner(s) or 1.00% in the last quarter. Average portfolio weight of all funds dedicated to RF is 0.21%, a decrease of 14.64%. Total shares owned by institutions increased in the last three months by 1.23% to 811,917K shares. The put/call ratio of RF is 1.24, indicating a bearish outlook.

What are Other Shareholders Doing?

Wellington Management Group Llp holds 33,752K shares representing 3.60% ownership of the company. In it’s prior filing, the firm reported owning 97K shares, representing an increase of 99.71%. The firm increased its portfolio allocation in RF by 4,066.63% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 28,870K shares representing 3.08% ownership of the company. In it’s prior filing, the firm reported owning 28,378K shares, representing an increase of 1.70%. The firm decreased its portfolio allocation in RF by 19.13% over the last quarter.

VIMSX – Vanguard Mid-Cap Index Fund Investor Shares holds 21,825K shares representing 2.33% ownership of the company. In it’s prior filing, the firm reported owning 21,764K shares, representing an increase of 0.28%. The firm decreased its portfolio allocation in RF by 16.44% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 21,795K shares representing 2.32% ownership of the company. In it’s prior filing, the firm reported owning 21,602K shares, representing an increase of 0.89%. The firm decreased its portfolio allocation in RF by 19.45% over the last quarter.

Geode Capital Management holds 19,884K shares representing 2.12% ownership of the company. In it’s prior filing, the firm reported owning 19,609K shares, representing an increase of 1.39%. The firm decreased its portfolio allocation in RF by 19.26% over the last quarter.

Regions Financial Background Information
(This description is provided by the company.)

Regions Financial Corporation, with $147 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates more than 1,300 banking offices and 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC.

This article originally appeared on Fintel

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