Regions Financial Corp. (RF) Lowered to Outperform at Raymond James Financial Inc.
A number of other equities research analysts also recently weighed in on the company. Credit Suisse Group AG set a $9.50 price objective on Regions Financial Corp. and gave the company a hold rating in a research report on Wednesday, September 14th. Keefe, Bruyette & Woods raised Regions Financial Corp. from an underperform rating to a market perform rating and set a $10.50 price objective on the stock in a research report on Thursday, August 25th. Sanford C. Bernstein downgraded Regions Financial Corp. from an outperform rating to a market perform rating and dropped their price objective for the company from $9.56 to $9.50 in a research report on Tuesday, August 16th. They noted that the move was a valuation call. TheStreet raised Regions Financial Corp. from a hold rating to a buy rating in a research report on Friday, August 5th. Finally, Evercore ISI reaffirmed a buy rating and set a $10.00 price objective (up previously from $9.00) on shares of Regions Financial Corp. in a research report on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $10.38.
Shares of Regions Financial Corp. (NYSE:RF) traded down 0.58% during midday trading on Thursday, hitting $10.26. 9,724,409 shares of the company were exchanged. The firm has a market capitalization of $12.88 billion, a price-to-earnings ratio of 12.91 and a beta of 1.44. Regions Financial Corp. has a one year low of $7.00 and a one year high of $10.43. The firm’s 50 day moving average price is $9.80 and its 200 day moving average price is $9.17.
Regions Financial Corp. (NYSE:RF) last posted its quarterly 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. Regions Financial Corp. had a return on equity of 6.65% and a net margin of 18.63%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.37 billion. Analysts forecast that Regions Financial Corp. will post $0.83 EPS for the current fiscal year.
The firm also recently disclosed 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 2.52%. Regions Financial Corp.’s dividend payout ratio is currently 32.91%.
In other news, EVP C. Keith Herron sold 38,753 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was 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 directly owns 290,384 shares of the company’s stock, valued at approximately $2,723,801.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ellen S. Jones sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $9.53, for a total value of $95,300.00. Following the transaction, the executive vice president now directly owns 54,886 shares of the company’s stock, valued at $523,063.58. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. boosted its position in 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 in the last quarter. Kanaly Trust Co boosted its stake 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 worth $111,000 after buying an additional 1,145 shares during the period. Wesbanco Bank Inc. boosted its stake 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 worth $114,000 after buying an additional 1,662 shares during the period. Paradigm Financial Advisors LLC purchased a new stake in shares of Regions Financial Corp. during the second quarter worth about $119,000. Finally, Woodmont Investment Counsel LLC boosted its stake in shares of Regions Financial Corp. by 3.1% in the second quarter. Woodmont Investment Counsel LLC now owns 14,144 shares of the company’s stock worth $120,000 after buying an additional 426 shares during the period. 74.29% of the stock is owned by institutional investors and hedge funds.
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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