Regions Financial Corp. (RF) Forecasted to Post FY2018 Earnings of $1.01 Per Share
Regions Financial Corp. (NYSE:RF) – Equities research analysts at Jefferies Group issued their FY2018 EPS estimates for Regions Financial Corp. in a research note issued on Friday. Jefferies Group analyst K. Usdin anticipates that the brokerage will earn $1.01 per share for the year. Jefferies Group has a “Buy” rating and a $9.50 price objective on the stock.
Several other research firms have also recently issued reports on RF. Raymond James Financial Inc. cut Regions Financial Corp. from a “strong-buy” rating to an “outperform” rating and set a $10.50 price target for the company. in a research note on Thursday. TheStreet cut Regions Financial Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Wells Fargo & Co. reissued a “hold” rating on shares of Regions Financial Corp. in a research note on Saturday, July 9th. Sanford C. Bernstein cut Regions Financial Corp. from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $9.56 to $9.50 in a research note on Tuesday, August 16th. They noted that the move was a valuation call. Finally, Credit Suisse Group AG reissued a “hold” rating and issued a $9.50 price target on shares of Regions Financial Corp. in a research note on Wednesday, July 20th. One 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 stock. The stock has an average rating of “Buy” and an average target price of $10.34.
Shares of Regions Financial Corp. (NYSE:RF) opened at 10.46 on Monday. The stock has a market cap of $13.13 billion, a PE ratio of 13.16 and a beta of 1.44. The company’s 50-day moving average price is $9.82 and its 200-day moving average price is $9.18. Regions Financial Corp. has a 52-week low of $7.00 and a 52-week high of $10.47.
Regions Financial Corp. (NYSE:RF) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $0.20 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 analysts’ expectations of $1.37 billion. Regions Financial Corp. had a return on equity of 6.65% and a net margin of 18.63%.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted 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 in the last quarter. FMR LLC boosted 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 in the last quarter. State Street Corp boosted 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 in the last quarter. BlackRock Institutional Trust Company N.A. boosted 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 in the last quarter. Finally, LSV Asset Management boosted 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 in the last quarter. 74.29% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Ellen S. Jones sold 10,000 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 54,886 shares of the company’s stock, valued at approximately $523,063.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott M. Peters sold 23,391 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 201,391 shares of the company’s stock, valued at $1,959,534.43. The disclosure for this sale can be found here. 0.88% of the stock is owned by company insiders.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 9th were given a $0.065 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 2.52%. Regions Financial Corp.’s dividend payout ratio is currently 32.91%.
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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