Regions Financial Corp. (NYSE:RF) Receives $10.53 Average Target Price from Brokerages
Shares of Regions Financial Corp. (NYSE:RF) have been given an average rating of “Buy” by the twenty-eight ratings firms that are presently covering the stock. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $10.53.
A number of analysts recently issued reports on RF shares. FBR & Co reiterated a “buy” rating and set a $10.50 price objective on shares of Regions Financial Corp. in a research note on Wednesday, July 20th. Deutsche Bank AG reiterated a “hold” rating on shares of Regions Financial Corp. in a research note on Wednesday, June 15th. Evercore ISI reiterated a “buy” rating and set a $10.00 price objective (up from $9.00) on shares of Regions Financial Corp. in a research note on Friday, July 22nd. Vetr upgraded Regions Financial Corp. from a “buy” rating to a “strong-buy” rating and set a $10.50 price objective on the stock in a research note on Monday, June 13th. Finally, Credit Suisse Group AG set a $9.50 price objective on Regions Financial Corp. and gave the company a “hold” rating in a research note on Wednesday, September 14th.
In related news, EVP Ellen S. Jones sold 10,000 shares of the firm’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 completion of the transaction, the executive vice president now owns 54,886 shares of the company’s stock, valued at approximately $523,063.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Scott M. Peters sold 23,391 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $9.73, for a total value of $227,594.43. Following the transaction, the executive vice president now directly owns 201,391 shares of the company’s stock, valued at approximately $1,959,534.43. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. AJO LP raised its position in Regions Financial Corp. by 665.8% in the second quarter. AJO LP now owns 12,532,352 shares of the company’s stock worth $106,650,000 after buying an additional 10,895,919 shares during the period. Bank of Montreal Can bought a new position in Regions Financial Corp. during the second quarter worth $44,648,000. Basswood Capital Management L.L.C. raised its position in Regions Financial Corp. by 70.7% in the second quarter. Basswood Capital Management L.L.C. now owns 11,942,752 shares of the company’s stock worth $101,633,000 after buying an additional 4,944,933 shares during the period. Samlyn Capital LLC raised its position in Regions Financial Corp. by 66.0% in the first quarter. Samlyn Capital LLC now owns 11,611,786 shares of the company’s stock worth $91,152,000 after buying an additional 4,616,877 shares during the period. Finally, Systematic Financial Management LP bought a new position in Regions Financial Corp. during the second quarter worth $36,379,000. 74.29% of the stock is owned by institutional investors.
Regions Financial Corp. (NYSE:RF) last released its quarterly earnings data on Tuesday, July 19th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by $0.01. Regions Financial Corp. had a net margin of 18.63% and a return on equity of 6.65%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.37 billion.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be given a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Wednesday, September 7th. Regions Financial Corp.’s dividend payout ratio is currently 32.91%.
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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