Regions Financial Corp. (RF) Now Covered by Wedbush
Investment analysts at Wedbush assumed coverage on shares of Regions Financial Corp. (NYSE:RF) in a research note issued on Thursday. The firm set an “outperform” rating and a $12.00 price target on the stock. Wedbush’s price objective points to a potential upside of 16.28% from the company’s current price. The analysts noted that the move was a valuation call.
Several other research analysts also recently commented on RF. Raymond James Financial Inc. downgraded shares of Regions Financial Corp. from a “strong-buy” rating to an “outperform” rating in a report on Thursday. 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. Keefe, Bruyette & Woods upgraded shares of Regions Financial Corp. from an “underperform” rating to a “market perform” rating and set a $10.50 target price on the stock in a report on Thursday, August 25th. Sanford C. Bernstein downgraded 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. Finally, TheStreet upgraded shares of Regions Financial Corp. from a “hold” rating to a “buy” rating in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $10.38.
Regions Financial Corp. (NYSE:RF) opened at 10.32 on Thursday. Regions Financial Corp. has a 12 month low of $7.00 and a 12 month high of $10.43. The company has a market cap of $12.95 billion, a PE ratio of 12.98 and a beta of 1.44. The stock’s 50 day moving average is $9.80 and its 200 day moving average is $9.17.
Regions Financial Corp. (NYSE:RF) last issued its earnings results 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. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.37 billion. Regions Financial Corp. had a net margin of 18.63% and a return on equity of 6.65%. Equities analysts predict that Regions Financial Corp. will post $0.83 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 9th were paid a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 2.52%. The ex-dividend date was Wednesday, September 7th. Regions Financial Corp.’s payout ratio is presently 32.91%.
In related news, EVP C. Keith Herron sold 38,753 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 290,384 shares in the company, valued at $2,723,801.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ellen S. Jones sold 10,000 shares of the stock in a transaction 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 transaction, the executive vice president now owns 54,886 shares of the company’s stock, valued at approximately $523,063.58. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in RF. AJO LP boosted its position in shares of Regions Financial Corp. by 665.8% in the second quarter. AJO LP now owns 12,532,352 shares of the company’s stock valued at $106,650,000 after buying an additional 10,895,919 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Regions Financial Corp. during the second quarter valued at approximately $44,648,000. Basswood Capital Management L.L.C. boosted its position in shares of 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 valued at $101,633,000 after buying an additional 4,944,933 shares during the last quarter. Samlyn Capital LLC boosted its position in shares of Regions Financial Corp. by 66.0% in the first quarter. Samlyn Capital LLC now owns 11,611,786 shares of the company’s stock valued at $91,152,000 after buying an additional 4,616,877 shares during the last quarter. Finally, Systematic Financial Management LP acquired a new position in shares of Regions Financial Corp. during the second quarter valued at approximately $36,379,000. Institutional investors and hedge funds 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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