Regions Financial Corp. (NYSE:RF) issued its quarterly earnings data on Tuesday. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.03. Regions Financial Corp. had a return on equity of 6.65% and a net margin of 18.63%. The firm earned $1.46 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the firm posted $0.18 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year.
Shares of Regions Financial Corp. (NYSE:RF) opened at 10.25 on Wednesday. The company has a market cap of $12.87 billion, a P/E ratio of 12.89 and a beta of 1.44. The company’s 50 day moving average is $9.91 and its 200-day moving average is $9.30. Regions Financial Corp. has a 12 month low of $7.00 and a 12 month high of $10.47.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Wednesday, December 7th. Regions Financial Corp.’s dividend payout ratio is presently 32.91%.
In other news, EVP Ellen S. Jones sold 10,000 shares of the stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $9.53, for a total transaction of $95,300.00. Following the transaction, the executive vice president now owns 54,886 shares in the company, valued at approximately $523,063.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP C. Keith Herron sold 38,753 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $9.38, for a total transaction of $363,503.14. Following the transaction, the executive vice president now owns 290,384 shares in the company, valued at approximately $2,723,801.92. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Regions Financial Corp. by 6.2% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,215 shares of the company’s stock valued at $104,000 after buying an additional 710 shares during the period. Capital Investment Advisors LLC acquired a new position in shares of Regions Financial Corp. during the third quarter valued at approximately $127,000. Kanaly Trust Co raised its position in shares of Regions Financial Corp. by 9.6% in the second quarter. Kanaly Trust Co now owns 13,044 shares of the company’s stock valued at $111,000 after buying an additional 1,145 shares during the period. Wesbanco Bank Inc. raised its position in shares of Regions Financial Corp. by 14.2% in the second quarter. Wesbanco Bank Inc. now owns 13,329 shares of the company’s stock valued at $114,000 after buying an additional 1,662 shares during the period. Finally, Private Bank & Trust Co. raised its position in shares of Regions Financial Corp. by 35.5% in the third quarter. Private Bank & Trust Co. now owns 13,551 shares of the company’s stock valued at $134,000 after buying an additional 3,551 shares during the period. Institutional investors own 74.26% of the company’s stock.
Several research analysts recently issued reports on RF shares. Bank of America Corp. downgraded Regions Financial Corp. from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 29th. TheStreet downgraded Regions Financial Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Jefferies Group restated a “buy” rating and set a $9.50 price objective on shares of Regions Financial Corp. in a research report on Thursday, July 7th. Wells Fargo & Co. restated a “hold” rating on shares of Regions Financial Corp. in a research report on Saturday, July 9th. Finally, Barclays PLC reaffirmed a “sell” rating on shares of Regions Financial Corp. in a research note on Saturday, July 9th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Regions Financial Corp. currently has a consensus rating of “Hold” and a consensus target price of $10.34.
Regions Financial Corp. Company Profile
Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank, which is a member of the Federal Reserve System. It operates in three segments: Corporate Bank, which represents its commercial banking functions, including commercial and industrial, commercial real estate and investor real estate lending; Consumer Bank, which represents its 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, as well as the corresponding deposit relationships, and Wealth Management, which offers individuals, businesses, governmental institutions and non-profit entities a range of solutions to enable transfer of wealth.
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