Wedbush started coverage on shares of Regions Financial Corp. (NYSE:RF) in a research note issued to investors on Thursday morning. The brokerage issued an outperform rating and a $12.00 price objective on the stock. The analysts noted that the move was a valuation call.
A number of other equities research analysts have also issued reports on the stock. Sanford C. Bernstein lowered shares of Regions Financial Corp. from an outperform rating to a market perform rating and dropped their target price for the stock from $9.56 to $9.50 in a report on Tuesday, August 16th. They noted that the move was a valuation call. Bank of America Corp. lowered shares of Regions Financial Corp. from a buy rating to a neutral rating in a report on Wednesday, June 29th. Credit Suisse Group AG set a $9.50 target price on shares of Regions Financial Corp. and gave the stock a hold rating in a report on Wednesday, September 14th. Raymond James Financial Inc. cut shares of Regions Financial Corp. from a strong-buy rating to an outperform rating and set a $10.50 price target on the stock. in a research report on Thursday, October 6th. Finally, TheStreet cut shares of Regions Financial Corp. from a buy rating to a hold rating in a research report on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $10.34.
Regions Financial Corp. (NYSE:RF) opened at 10.37 on Thursday. The firm’s 50-day moving average is $9.84 and its 200-day moving average is $9.22. Regions Financial Corp. has a 52-week low of $7.00 and a 52-week high of $10.47. The stock has a market cap of $13.02 billion, a P/E ratio of 13.04 and a beta of 1.44.
Regions Financial Corp. (NYSE:RF) last released its earnings results on Tuesday, July 19th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.01. Regions Financial Corp. had a return on equity of 6.65% and a net margin of 18.63%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Equities research analysts predict that Regions Financial Corp. will post $0.83 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 9th were given a dividend of $0.065 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.26 annualized dividend and a dividend yield of 2.51%. Regions Financial Corp.’s dividend payout ratio is presently 32.91%.
In related news, EVP C. Keith Herron sold 38,753 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $9.38, for a total transaction of $363,503.14. Following the sale, the executive vice president now directly owns 290,384 shares in the company, valued at $2,723,801.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ellen S. Jones sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $9.53, for a total transaction of $95,300.00. Following the sale, the executive vice president now owns 54,886 shares in the company, valued at $523,063.58. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Regions Financial Corp. by 1.0% in the second quarter. Vanguard Group Inc. now owns 127,898,103 shares of the company’s stock worth $1,088,413,000 after buying an additional 1,317,327 shares during the last quarter. FMR LLC raised its stake in Regions Financial Corp. by 3.0% in the second quarter. FMR LLC now owns 113,805,979 shares of the company’s stock worth $968,488,000 after buying an additional 3,323,092 shares during the last quarter. State Street Corp raised its stake in Regions Financial Corp. by 1.9% in the second quarter. State Street Corp now owns 66,867,165 shares of the company’s stock worth $569,040,000 after buying an additional 1,241,187 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Regions Financial Corp. by 5.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 36,010,738 shares of the company’s stock worth $282,684,000 after buying an additional 1,878,532 shares during the last quarter. Finally, LSV Asset Management raised its stake in Regions Financial Corp. by 2.7% in the second quarter. LSV Asset Management now owns 33,211,384 shares of the company’s stock worth $282,628,000 after buying an additional 865,037 shares during the last quarter. Hedge funds and other institutional investors own 74.29% of the company’s stock.
About Regions Financial Corp.
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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