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Regions Financial (RF) Receives a Buy from Wedbush

In a report released yesterday, Peter Winter from Wedbush maintained a Buy rating on Regions Financial (RFResearch Report), with a price target of $24.00. The company’s shares closed last Friday at $20.65.

According to TipRanks.com, Winter is a 3-star analyst with an average return of 1.5% and a 38.0% success rate. Winter covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Prosperity Bancshares, and Huntington Bancshares.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Regions Financial with a $23.42 average price target, an 11.9% upside from current levels. In a report issued on July 11, Jefferies also maintained a Buy rating on the stock with a $22.00 price target.

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Based on Regions Financial’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.57 billion and net profit of $548 million. In comparison, last year the company earned revenue of $1.6 billion and had a net profit of $642 million.

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Regions Financial Corp. operates as a bank holding company. It provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance and other specialty financing. The company operates through the following segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment represents the company’s commercial banking functions including commercial and industrial, commercial real estate and investor real estate lending. The Consumer Bank segment holds the company’s branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, small business loans, indirect loans, consumer credit cards and other consumer loans. The Wealth Management segment offers individuals, businesses, governmental institutions and non-profit entities a range of solutions to help protect grow and transfer wealth. Regions Financial was founded in 1971 and is headquartered in Birmingham, AL.

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